Hims & Hers slides as Q1 results show margin compression, swing to net loss, and weight-loss transition risks

Hims & Hers Health, Inc. (HIMS) is down 6.7% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears tied to investor concerns about profitability after the company reported a sharp year-over-year decline in gross margin and a swing to a sizable net loss, even as revenue and subscribers grew. Commentary in its quarterly filing also flags ongoing operational and regulatory uncertainty around GLP-1 offerings, which may be weighing on sentiment.

Details:

The company reported first-quarter 2026 revenue of about $608.1 million (up 4% year-over-year) and nearly 2.6 million subscribers (up 9% year-over-year), but reported a net loss of about $92.1 million versus net income a year earlier.

Gross margin fell to 65% from 73% year-over-year; the company attributed pressure to weight-loss offerings (including shorter shipping cadences and higher fulfillment costs), international mix/new offerings, and restructuring-related charges tied to a U.S. weight-loss strategy update.

Adjusted EBITDA declined to about $44.3 million from $91.1 million in the prior-year quarter, reinforcing near-term profitability concerns.

The quarterly report discusses a rapidly evolving regulatory backdrop for compounded GLP-1s and notes potential government actions/inquiries could create added costs or operational disruption.

Sources:

Business Wire, U.S. Securities and Exchange Commission, Hims & Hers Investor Relations

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$HIMS Insider Trading Activity

$HIMS insiders have traded $HIMS stock on the open market 22 times in the past 6 months. Of those trades, 0 have been purchases and 22 have been sales.

Here’s a breakdown of recent trading of $HIMS stock by insiders over the last 6 months:

OLUYEMI OKUPE (Chief Financial Officer) has made 0 purchases and 10 sales selling 157,440 shares for an estimated $4,743,270.
MICHAEL CHI (Chief Operating Officer) has made 0 purchases and 2 sales selling 111,039 shares for an estimated $2,906,827.
SOLEIL BOUGHTON (Chief Legal Officer) has made 0 purchases and 5 sales selling 24,194 shares for an estimated $678,255.
IRENE BECKLUND (PAO) has made 0 purchases and 2 sales selling 13,940 shares for an estimated $445,278.
PATRICK HARRISON CARROLL (Chief Medical Officer) sold 10,021 shares for an estimated $367,870
DEBORAH M. AUTOR (Chief Policy Officer) sold 7,054 shares for an estimated $258,952
GARCIA ANDREA G PEREZ sold 2,500 shares for an estimated $97,925

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$HIMS Hedge Fund Activity

We have seen 221 institutional investors add shares of $HIMS stock to their portfolio, and 326 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

FORERUNNER VENTURES MANAGEMENT, LLC removed 9,756,893 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $316,806,315
FARALLON CAPITAL MANAGEMENT LLC removed 7,359,866 shares (-68.5%) from their portfolio in Q4 2025, for an estimated $238,974,849
CAPITAL WORLD INVESTORS removed 4,460,282 shares (-23.7%) from their portfolio in Q4 2025, for an estimated $144,825,356
RENAISSANCE TECHNOLOGIES LLC removed 4,278,843 shares (-47.0%) from their portfolio in Q4 2025, for an estimated $138,934,032
MORGAN STANLEY removed 3,346,864 shares (-46.0%) from their portfolio in Q4 2025, for an estimated $108,672,674
TIDAL INVESTMENTS LLC removed 2,759,789 shares (-96.5%) from their portfolio in Q4 2025, for an estimated $89,610,348
PRICE T ROWE ASSOCIATES INC /MD/ removed 2,341,642 shares (-76.3%) from their portfolio in Q4 2025, for an estimated $76,033,115

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$HIMS Price Targets

Multiple analysts have issued price targets for $HIMS recently. We have seen 12 analysts offer price targets for $HIMS in the last 6 months, with a median target of $26.5.

Here are some recent targets:

Allen Lutz from B of A Securities set a target price of $32.0 on 04/24/2026
Cory Carpenter from JP Morgan set a target price of $35.0 on 04/24/2026
Jonna Kim from TD Cowen set a target price of $23.0 on 03/27/2026
Michael Cherny from Leerink Partners set a target price of $25.0 on 03/16/2026
Glen Santangelo from Barclays set a target price of $29.0 on 03/11/2026
George Hill from Deutsche Bank set a target price of $28.0 on 03/10/2026
Daniel Grosslight from Citigroup set a target price of $24.0 on 03/10/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.