Geode Capital Management LLC Purchases 482,177 Shares of Hims & Hers Health, Inc. (NYSE:HIMS)

Geode Capital Management LLC increased its position in shares of Hims & Hers Health, Inc. (NYSE:HIMS) by 12.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,289,549 shares of the company’s stock after purchasing an additional 482,177 shares during the period. Geode Capital Management LLC’s holdings in Hims & Hers Health were worth $79,029,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of HIMS. Quest Partners LLC increased its stake in Hims & Hers Health by 22.6% in the 3rd quarter. Quest Partners LLC now owns 4,373 shares of the company’s stock worth $81,000 after buying an additional 807 shares in the last quarter. CWM LLC grew its position in shares of Hims & Hers Health by 21.4% during the third quarter. CWM LLC now owns 5,982 shares of the company’s stock worth $110,000 after purchasing an additional 1,054 shares in the last quarter. Arizona State Retirement System raised its stake in Hims & Hers Health by 3.0% during the 2nd quarter. Arizona State Retirement System now owns 40,344 shares of the company’s stock valued at $815,000 after purchasing an additional 1,173 shares during the period. Victory Capital Management Inc. raised its stake in Hims & Hers Health by 6.6% during the 2nd quarter. Victory Capital Management Inc. now owns 19,469 shares of the company’s stock valued at $393,000 after purchasing an additional 1,212 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in Hims & Hers Health by 679.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock worth $37,000 after purchasing an additional 1,603 shares during the period. Hedge funds and other institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Stock Performance

NYSE:HIMS opened at $26.20 on Friday. The stock’s fifty day moving average is $25.78 and its 200 day moving average is $21.27. The firm has a market capitalization of $5.72 billion, a PE ratio of 59.55 and a beta of 1.25. Hims & Hers Health, Inc. has a fifty-two week low of $8.09 and a fifty-two week high of $35.02.

Hims & Hers Health (NYSE:HIMS) last announced its earnings results on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.26. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The business had revenue of $401.56 million for the quarter, compared to the consensus estimate of $382.20 million. During the same quarter in the prior year, the firm posted ($0.04) earnings per share. The business’s revenue for the quarter was up 77.1% on a year-over-year basis. Equities analysts forecast that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

Insiders Place Their Bets

In other news, insider Michael Chi sold 2,054 shares of Hims & Hers Health stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $33.56, for a total transaction of $68,932.24. Following the completion of the sale, the insider now directly owns 184,947 shares in the company, valued at approximately $6,206,821.32. This trade represents a 1.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Oluyemi Okupe sold 9,868 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $19.96, for a total transaction of $196,965.28. Following the sale, the chief financial officer now directly owns 195,988 shares of the company’s stock, valued at $3,911,920.48. This represents a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,085,157 shares of company stock valued at $26,765,193 over the last 90 days. Insiders own 17.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on HIMS shares. Bank of America cut shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $32.00 to $18.00 in a research report on Thursday, November 14th. Piper Sandler reiterated a “neutral” rating and issued a $21.00 price target (up previously from $18.00) on shares of Hims & Hers Health in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. TD Cowen reaffirmed a “buy” rating and issued a $28.00 target price on shares of Hims & Hers Health in a report on Wednesday, November 20th. Finally, Canaccord Genuity Group increased their price target on Hims & Hers Health from $28.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $22.80.

Hims & Hers Health Company Profile

Hims & Hers Health, Inc operates a telehealth platform that connects consumers to licensed healthcare professionals in the United States, the United Kingdom, and internationally. The company offers a range of curated prescription and non-prescription health and wellness products and services available to purchase on its websites and mobile application directly by customers.