Hims & Hers Health (NYSE:HIMS) Stock Price Down 6.2% – Here’s Why

Hims & Hers Health, Inc. (NYSE:HIMS) shares fell 6.2% on Wednesday . The stock traded as low as $28.98 and last traded at $28.59. 9,500,766 shares traded hands during trading, a decline of 39% from the average session volume of 15,661,397 shares. The stock had previously closed at $30.47.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HIMS. Weiss Ratings reissued a “hold (c)” rating on shares of Hims & Hers Health in a report on Monday, December 29th. Leerink Partnrs upgraded shares of Hims & Hers Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 4th. Barclays initiated coverage on shares of Hims & Hers Health in a report on Monday, December 8th. They issued an “overweight” rating and a $48.00 target price for the company. KeyCorp started coverage on Hims & Hers Health in a report on Tuesday, October 21st. They set a “sector weight” rating on the stock. Finally, Wall Street Zen lowered Hims & Hers Health from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $44.54.

Hims & Hers Health Stock Performance

The company has a quick ratio of 1.64, a current ratio of 1.88 and a debt-to-equity ratio of 1.67. The business’s 50-day simple moving average is $35.41 and its two-hundred day simple moving average is $45.43. The firm has a market cap of $6.56 billion, a price-to-earnings ratio of 53.39, a P/E/G ratio of 5.32 and a beta of 2.37.

Hims & Hers Health (NYSE:HIMS) last released its earnings results on Monday, November 3rd. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The company had revenue of $598.98 million for the quarter, compared to analysts’ expectations of $578.99 million. Hims & Hers Health had a return on equity of 24.67% and a net margin of 6.05%.The firm’s revenue for the quarter was up 49.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 EPS. As a group, sell-side analysts expect that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Hims & Hers Health announced that its Board of Directors has authorized a share buyback plan on Monday, November 17th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other Hims & Hers Health news, COO Michael Chi sold 13,750 shares of Hims & Hers Health stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $36.71, for a total transaction of $504,762.50. Following the transaction, the chief operating officer owned 305,161 shares of the company’s stock, valued at $11,202,460.31. The trade was a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Deborah M. Autor sold 7,054 shares of Hims & Hers Health stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $36.71, for a total value of $258,952.34. Following the completion of the sale, the insider owned 6,175 shares in the company, valued at approximately $226,684.25. This trade represents a 53.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 125,544 shares of company stock worth $4,620,821 over the last three months. Company insiders own 17.71% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Hims & Hers Health by 23.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 418,699 shares of the company’s stock valued at $12,373,000 after purchasing an additional 78,543 shares during the period. Geneos Wealth Management Inc. purchased a new position in shares of Hims & Hers Health in the first quarter valued at $30,000. Parallel Advisors LLC increased its position in shares of Hims & Hers Health by 175.0% during the second quarter. Parallel Advisors LLC now owns 1,155 shares of the company’s stock worth $58,000 after acquiring an additional 735 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Hims & Hers Health by 24.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 15,638 shares of the company’s stock valued at $750,000 after purchasing an additional 3,050 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in Hims & Hers Health by 87.3% during the 2nd quarter. UMB Bank n.a. now owns 2,453 shares of the company’s stock valued at $122,000 after acquiring an additional 1,143 shares during the last quarter. 63.52% of the stock is currently owned by institutional investors and hedge funds.

About Hims & Hers Health

Hims & Hers Health, Inc is a telehealth platform providing direct-to-consumer personal care products and virtual medical services in the United States. Operating under the Hims & Hers brand, the company offers an integrated digital experience that connects users with licensed healthcare providers, enabling online consultations and prescriptions for a range of conditions. Its telemedicine infrastructure supports both prescription medications and over-the-counter products, with home delivery to patients’ doorsteps.

The company’s product portfolio addresses key areas of men’s and women’s health, including hair loss treatments, sexual wellness therapies, skincare regimens and mental health support.