Hims & Hers Health (NYSE:HIMS) Shares Down 6.3% – Here’s Why

Hims & Hers Health, Inc. (NYSE:HIMS)’s share price fell 6.3% during mid-day trading on Thursday . The stock traded as low as $30.29 and last traded at $30.6360. Approximately 7,248,392 shares were traded during trading, a decline of 76% from the average session volume of 29,921,127 shares. The stock had previously closed at $32.70.

Hims & Hers Health News Roundup

Here are the key news stories impacting Hims & Hers Health this week:

• Positive Sentiment: Investors are focusing on Hims’ growing obesity-drug opportunity as more employers cut coverage for expensive GLP-1 weight-loss drugs, potentially steering more patients toward cash-pay telehealth options. Hims’ obesity drug business may get boost as employers drop coverage
• Positive Sentiment: Novo Nordisk described Hims & Hers as one of its most “voluminous” telehealth partners, reinforcing confidence that the company is seeing meaningful demand tied to its weight-loss offering. HIMS Stock Eyes Big Monthly Win: Novo Nordisk Calls Hims & Hers One Of Its Most ‘Voluminous’ Telehealth Partners
• Positive Sentiment: Commentary on Hims’ subscriber growth highlighted 2.6 million subscribers in Q1, up 9% year over year, suggesting the core business continues to expand. HIMS Stock Eyes Big Monthly Win: Novo Nordisk Calls Hims & Hers One Of Its Most ‘Voluminous’ Telehealth Partners
• Neutral Sentiment: Multiple valuation articles comparing Hims & Hers with Omnicell (OMCL) frame HIMS as a potential value stock, but they do not appear to introduce a clear new catalyst. OMCL or HIMS: Which Is the Better Value Stock Right Now?
• Negative Sentiment: A Seeking Alpha piece downgraded the stock, arguing that fundamentals may not fully support the recent rebound, which could temper bullish sentiment. Hims & Hers: Can Fundamentals Really Support This Rebound Rally? (Downgrade)
• Negative Sentiment: Recent insider selling by Patrick Harrison Carroll may add a small overhang for investors watching management and insider confidence. Patrick Harrison Carroll Sells 23,726 Shares of Hims & Hers Health (NYSE:HIMS) Stock

Analysts Set New Price Targets

Several equities research analysts have commented on HIMS shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $25.00 price target on shares of Hims & Hers Health in a report on Tuesday, May 5th. Jefferies Financial Group set a $24.50 price objective on Hims & Hers Health in a report on Tuesday, May 12th. Citigroup upped their target price on Hims & Hers Health from $24.00 to $28.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Wall Street Zen lowered Hims & Hers Health from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Needham & Company LLC lifted their price target on Hims & Hers Health from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Hims & Hers Health currently has a consensus rating of “Hold” and a consensus target price of $29.37.

Hims & Hers Health Stock Up 3.5%

The company has a debt-to-equity ratio of 2.18, a current ratio of 1.69 and a quick ratio of 1.56. The business’s fifty day simple moving average is $27.94 and its two-hundred day simple moving average is $26.47. The company has a market cap of $7.84 billion, a PE ratio of -376.27, a PEG ratio of 46.76 and a beta of 2.37.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.44). Hims & Hers Health had a positive return on equity of 6.10% and a negative net margin of 0.56%.The firm had revenue of $608.10 million during the quarter, compared to analyst estimates of $616.84 million. During the same quarter last year, the company posted $0.20 EPS. The company’s revenue was up 3.8% on a year-over-year basis. On average, analysts predict that Hims & Hers Health, Inc. will post 0.05 earnings per share for the current year.

Insider Activity at Hims & Hers Health

In other Hims & Hers Health news, COO Michael Chi sold 14,027 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $31.50, for a total transaction of $441,850.50. Following the transaction, the chief operating officer owned 432,124 shares in the company, valued at approximately $13,611,906. This represents a 3.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Patrick Harrison Carroll sold 23,726 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $35.00, for a total value of $830,410.00. Following the transaction, the insider directly owned 181,861 shares of the company’s stock, valued at approximately $6,365,135. The trade was a 11.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 163,973 shares of company stock valued at $4,859,194 in the last ninety days. 11.76% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hims & Hers Health

Large investors have recently added to or reduced their stakes in the stock. Flagship Harbor Advisors LLC acquired a new stake in shares of Hims & Hers Health in the fourth quarter valued at about $28,000. Binnacle Investments Inc acquired a new position in shares of Hims & Hers Health during the 3rd quarter worth about $28,000. Bogart Wealth LLC lifted its stake in Hims & Hers Health by 235.8% in the 4th quarter. Bogart Wealth LLC now owns 900 shares of the company’s stock valued at $29,000 after buying an additional 632 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in Hims & Hers Health in the 1st quarter valued at about $30,000. Finally, Greenline Wealth Management LLC purchased a new position in Hims & Hers Health in the 4th quarter valued at about $36,000. 63.52% of the stock is currently owned by institutional investors and hedge funds.

Hims & Hers Health Company Profile

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.