Hims & Hers Health (NYSE:HIMS) Reaches New 1-Year Low – Here’s What Happened

Hims & Hers Health, Inc. (NYSE:HIMS) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $16.34 and last traded at $16.6730, with a volume of 5640362 shares traded. The stock had previously closed at $16.69.

Analysts Set New Price Targets

A number of research analysts have weighed in on HIMS shares. Barclays began coverage on shares of Hims & Hers Health in a research report on Monday, December 8th. They set an “overweight” rating and a $48.00 price objective on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Hims & Hers Health in a report on Monday, December 29th. Bank of America reduced their price objective on shares of Hims & Hers Health from $26.00 to $21.00 and set an “underperform” rating on the stock in a research report on Monday, February 9th. TD Cowen dropped their target price on Hims & Hers Health from $30.00 to $20.00 and set a “hold” rating for the company in a research report on Monday, February 9th. Finally, KeyCorp initiated coverage on Hims & Hers Health in a research note on Tuesday, October 21st. They set a “sector weight” rating on the stock. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $39.32.

Hims & Hers Health Price Performance

The firm has a market capitalization of $3.71 billion, a P/E ratio of 30.21, a P/E/G ratio of 2.95 and a beta of 2.43. The stock’s 50 day simple moving average is $30.86 and its 200 day simple moving average is $42.11. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.64 and a current ratio of 1.88.

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

Insider Activity at Hims & Hers Health

In other news, insider Patrick Harrison Carroll sold 10,021 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $36.71, for a total transaction of $367,870.91. Following the transaction, the insider owned 169,940 shares in the company, valued at approximately $6,238,497.40. This trade represents a 5.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Irene Becklund sold 8,411 shares of the company’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $36.71, for a total transaction of $308,767.81. Following the completion of the sale, the insider directly owned 2,126 shares of the company’s stock, valued at approximately $78,045.46. This trade represents a 79.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 129,337 shares of company stock worth $4,651,648 over the last three months. Corporate insiders own 13.71% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

Institutional investors have recently added to or reduced their stakes in the stock. Farallon Capital Management LLC lifted its position in shares of Hims & Hers Health by 30.8% during the third quarter. Farallon Capital Management LLC now owns 10,746,852 shares of the company’s stock valued at $609,561,000 after buying an additional 2,533,271 shares during the last quarter. Invesco Ltd. grew its position in shares of Hims & Hers Health by 502.2% in the 2nd quarter. Invesco Ltd. now owns 2,552,405 shares of the company’s stock worth $127,237,000 after buying an additional 2,128,587 shares during the last quarter. Norges Bank bought a new position in shares of Hims & Hers Health during the 4th quarter worth approximately $62,153,000. Clear Street LLC bought a new position in shares of Hims & Hers Health during the 2nd quarter worth approximately $83,582,000. Finally, Clear Street Group Inc. purchased a new stake in Hims & Hers Health during the third quarter valued at approximately $87,372,000. Institutional investors own 63.52% of the company’s stock.

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.