Hims & Hers Health (NYSE:HIMS) Shares Down 8% – Here’s Why

Hims & Hers Health, Inc. (NYSE:HIMS) shares dropped 8% during mid-day trading on Monday . The company traded as low as $22.78 and last traded at $23.0530. Approximately 6,482,082 shares changed hands during trading, a decline of 80% from the average daily volume of 32,769,262 shares. The stock had previously closed at $25.05.

Trending Headlines about Hims & Hers Health

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

• Positive Sentiment: Hims & Hers upsized its convertible notes offering to $350 million, giving it more cash to fund international expansion, the proposed Eucalyptus acquisition, and AI/platform investment. Hims & Hers Health, Inc. Prices Upsized $350 Million Convertible Senior Notes Offering to Support International Expansion and Accelerate AI-Driven Platform Investment
• Neutral Sentiment: Bank of America cut its price target to $28 from $30 but kept a neutral rating, suggesting a more cautious outlook while still implying some upside from recent levels. Benzinga report on Bank of America price target cut
• Neutral Sentiment: CFO Oluyemi Okupe sold 7,950 shares for about $187,938, but the sale was made under a pre-arranged 10b5-1 trading plan, which makes it less informative than an open-market discretionary sale. Hims & Hers Health (NYSE:HIMS) CFO Sells $187,938.00 in Stock
• Negative Sentiment: Investors are reacting negatively to the new convertible debt, worried the financing could dilute existing shareholders and add pressure to the stock. Why Hims & Hers Stock Is Falling Today
• Negative Sentiment: Recent Q1 results were weak, with earnings of -$0.40 per share versus a $0.04 estimate and revenue slightly below expectations, keeping sentiment cautious. Hims & Hers Health, Inc. Announces Proposed Convertible Senior Notes Offering to Support International Expansion and Accelerate AI-Driven Platform Investment

Wall Street Analyst Weigh In

HIMS has been the topic of a number of recent analyst reports. Evercore set a $24.00 price objective on Hims & Hers Health in a research report on Tuesday, February 24th. Leerink Partners boosted their price objective on shares of Hims & Hers Health from $17.50 to $25.00 and gave the stock a “market perform” rating in a report on Monday, March 16th. Weiss Ratings cut Hims & Hers Health from a “hold (c)” rating to a “sell (d)” rating in a report on Tuesday, May 12th. Jefferies Financial Group set a $24.50 price target on shares of Hims & Hers Health in a report on Tuesday, May 12th. Finally, Truist Financial reiterated a “hold” rating and issued a $18.00 price objective (down from $37.00) on shares of Hims & Hers Health in a research report on Tuesday, February 24th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Hims & Hers Health has an average rating of “Hold” and a consensus target price of $29.37.

Hims & Hers Health Stock Performance

The firm has a market capitalization of $5.12 billion, a P/E ratio of -249.61, a price-to-earnings-growth ratio of 39.32 and a beta of 2.43. The business’s 50 day simple moving average is $24.05 and its two-hundred day simple moving average is $28.43. The company has a current ratio of 1.69, a quick ratio of 1.56 and a debt-to-equity ratio of 2.18.

Hims & Hers Health (NYSE:HIMS) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.44). The business had revenue of $608.10 million during the quarter, compared to analysts’ expectations of $616.84 million. Hims & Hers Health had a positive return on equity of 6.10% and a negative net margin of 0.56%.The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.20 EPS. Sell-side analysts anticipate that Hims & Hers Health, Inc. will post 0.04 EPS for the current fiscal year.

Insider Transactions at Hims & Hers Health

In related news, CFO Oluyemi Okupe sold 36,922 shares of the business’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $25.90, for a total transaction of $956,279.80. Following the completion of the sale, the chief financial officer directly owned 281,867 shares in the company, valued at approximately $7,300,355.30. The trade was a 11.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Chi sold 97,289 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $24.69, for a total transaction of $2,402,065.41. Following the sale, the chief operating officer directly owned 407,282 shares of the company’s stock, valued at approximately $10,055,792.58. The trade was a 19.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 212,807 shares of company stock valued at $5,473,644. Corporate insiders own 11.76% of the company’s stock.

Institutional Investors Weigh In On Hims & Hers Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its stake in Hims & Hers Health by 44.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 916 shares of the company’s stock worth $54,000 after buying an additional 283 shares in the last quarter. W.G. Shaheen & Associates DBA Whitney & Co raised its position in shares of Hims & Hers Health by 4.8% during the 3rd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 7,695 shares of the company’s stock valued at $436,000 after buying an additional 350 shares in the last quarter. Sigma Planning Corp lifted its stake in shares of Hims & Hers Health by 1.5% in the 1st quarter. Sigma Planning Corp now owns 26,007 shares of the company’s stock valued at $540,000 after purchasing an additional 388 shares during the last quarter. BAM Wealth Management LLC lifted its position in Hims & Hers Health by 5.6% in the fourth quarter. BAM Wealth Management LLC now owns 7,380 shares of the company’s stock worth $240,000 after buying an additional 393 shares during the last quarter. Finally, Xponance Inc. lifted its holdings in shares of Hims & Hers Health by 1.5% in the 3rd quarter. Xponance Inc. now owns 28,195 shares of the company’s stock worth $1,599,000 after acquiring an additional 419 shares during the last quarter. 63.52% of the stock is owned by hedge funds and other institutional investors.

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.