1,914,177 Shares in Hims & Hers Health, Inc. $HIMS Bought by Norges Bank

Key Points

• Norges Bank bought 1,914,177 shares of Hims & Hers Health in the fourth quarter, worth about $62.2 million, giving it an estimated 0.84% stake in the company.
• Hims & Hers shares were down 6.3% in Friday trading, with the stock opening at $26.25 and trading well below its 52-week high of $70.43.
• The company’s latest earnings missed expectations, reporting ($0.40) EPS versus a projected $0.04, while revenue of $608.1 million also came in slightly below estimates; analysts currently rate the stock a Hold on average.

Norges Bank acquired a new position in Hims & Hers Health, Inc. (NYSE:HIMS - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,914,177 shares of the company's stock, valued at approximately $62,153,000. Norges Bank owned approximately 0.84% of Hims & Hers Health as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of HIMS. Farallon Capital Management LLC increased its holdings in shares of Hims & Hers Health by 30.8% in the 3rd quarter. Farallon Capital Management LLC now owns 10,746,852 shares of the company's stock valued at $609,561,000 after purchasing an additional 2,533,271 shares in the last quarter. BIT Capital GmbH grew its position in Hims & Hers Health by 73.8% during the third quarter. BIT Capital GmbH now owns 2,210,384 shares of the company's stock worth $125,373,000 after buying an additional 938,728 shares during the period. State of Michigan Retirement System increased its holdings in Hims & Hers Health by 49.2% in the third quarter. State of Michigan Retirement System now owns 2,057,700 shares of the company's stock valued at $116,713,000 after buying an additional 678,600 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Hims & Hers Health by 25.6% during the 4th quarter. SG Americas Securities LLC now owns 371,553 shares of the company's stock valued at $12,064,000 after acquiring an additional 75,679 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Hims & Hers Health by 7.2% during the 4th quarter. Vanguard Group Inc. now owns 20,925,666 shares of the company's stock valued at $679,456,000 after acquiring an additional 1,407,651 shares during the period. Institutional investors and hedge funds own 63.52% of the company's stock.

Hims & Hers Health Trading Down 6.3%

Shares of HIMS opened at $26.25 on Friday. 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 firm has a 50 day simple moving average of $24.61 and a 200-day simple moving average of $27.08. Hims & Hers Health, Inc. has a 1-year low of $13.74 and a 1-year high of $70.43. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of -291.71, a price-to-earnings-growth ratio of 49.14 and a beta of 2.37.

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

Analysts Set New Price Targets

HIMS has been the topic of a number of research reports. Needham & Company LLC upped their price target on Hims & Hers Health from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. Morgan Stanley reduced their price objective on Hims & Hers Health from $40.00 to $21.00 and set an "equal weight" rating for the company in a report on Tuesday, February 24th. Truist Financial boosted their target price on Hims & Hers Health from $18.00 to $23.00 and gave the stock a "hold" rating in a research report on Friday, May 22nd. Jefferies Financial Group set a $24.50 target price on Hims & Hers Health in a report on Tuesday, May 12th. Finally, TD Cowen cut their price target on Hims & Hers Health from $25.00 to $23.00 and set a "hold" rating for the company in a research note on Friday, March 27th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $28.70.

Insider Buying and Selling

In related news, COO Michael Chi sold 97,289 shares of the business's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $24.69, for a total value of $2,402,065.41. Following the completion of the transaction, the chief operating officer 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. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Soleil Boughton sold 9,463 shares of the company's stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $30.00, for a total transaction of $283,890.00. Following the completion of the transaction, the insider owned 299,368 shares in the company, valued at approximately $8,981,040. This trade represents a 3.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 212,807 shares of company stock valued at $5,473,644. Company insiders own 11.76% of the company's stock.

Hims & Hers Health 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.

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