Fmr LLC Trims Stock Position in Hims & Hers Health, Inc. (NYSE:HIMS)

Fmr LLC trimmed its holdings in shares of Hims & Hers Health, Inc. (NYSE:HIMS) by 99.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,131 shares of the company’s stock after selling 3,808,320 shares during the period. Fmr LLC’s holdings in Hims & Hers Health were worth $592,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of HIMS. Renaissance Technologies LLC lifted its holdings in Hims & Hers Health by 113.1% in the 2nd quarter. Renaissance Technologies LLC now owns 6,039,408 shares of the company’s stock valued at $121,936,000 after purchasing an additional 3,205,108 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Hims & Hers Health by 164.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 528,142 shares of the company’s stock worth $10,663,000 after purchasing an additional 328,142 shares during the period. State of Michigan Retirement System lifted its stake in shares of Hims & Hers Health by 177.8% during the 2nd quarter. State of Michigan Retirement System now owns 500,000 shares of the company’s stock worth $10,095,000 after purchasing an additional 320,000 shares during the period. Carnegie Investment Counsel acquired a new stake in shares of Hims & Hers Health during the third quarter worth $5,531,000. Finally, Bank of New York Mellon Corp grew its position in shares of Hims & Hers Health by 67.5% in the second quarter. Bank of New York Mellon Corp now owns 678,602 shares of the company’s stock valued at $13,701,000 after purchasing an additional 273,473 shares during the period. 63.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on HIMS shares. Morgan Stanley assumed coverage on Hims & Hers Health in a research note on Tuesday. They issued an “overweight” rating and a $42.00 price target on the stock. Bank of America lowered Hims & Hers Health from a “buy” rating to an “underperform” rating and cut their target price for the stock from $32.00 to $18.00 in a research report on Thursday, November 14th. Needham & Company LLC began coverage on Hims & Hers Health in a report on Thursday, August 22nd. They issued a “buy” rating and a $24.00 price objective on the stock. TD Cowen reiterated a “buy” rating and set a $28.00 target price on shares of Hims & Hers Health in a report on Wednesday, November 20th. Finally, Canaccord Genuity Group increased their target price on shares of Hims & Hers Health from $28.00 to $38.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.80.

Insider Buying and Selling

In other news, CEO Andrew Dudum sold 78,127 shares of Hims & Hers Health stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $29.62, for a total value of $2,314,121.74. Following the completion of the transaction, the chief executive officer now owns 109,956 shares in the company, valued at approximately $3,256,896.72. This trade represents a 41.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Chi sold 2,054 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $33.56, for a total value of $68,932.24. Following the transaction, the insider now owns 184,947 shares in the company, valued at $6,206,821.32. This trade represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,143,575 shares of company stock worth $27,724,979. Corporate insiders own 17.71% of the company’s stock.

Hims & Hers Health Stock Down 8.3 %

HIMS stock opened at $28.55 on Thursday. The company has a market capitalization of $6.24 billion, a PE ratio of 64.89 and a beta of 1.25. The stock’s 50 day moving average is $25.46 and its two-hundred day moving average is $21.19. Hims & Hers Health, Inc. has a 52-week low of $8.09 and a 52-week high of $35.02.

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

Hims & Hers Health 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.