Bank of New York Mellon Corp Acquires 15,339 Shares of Hims & Hers Health, Inc. (NYSE:HIMS)

Bank of New York Mellon Corp raised its stake in Hims & Hers Health, Inc. (NYSE:HIMS - Free Report) by 1.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,260,292 shares of the company's stock after buying an additional 15,339 shares during the period. Bank of New York Mellon Corp owned about 0.57% of Hims & Hers Health worth $37,242,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new stake in shares of Hims & Hers Health in the 1st quarter valued at about $10,894,000. New York State Teachers Retirement System lifted its stake in shares of Hims & Hers Health by 95.2% in the 1st quarter. New York State Teachers Retirement System now owns 194,795 shares of the company's stock valued at $5,756,000 after purchasing an additional 94,983 shares during the period. Amalgamated Bank lifted its stake in shares of Hims & Hers Health by 50.7% in the 1st quarter. Amalgamated Bank now owns 84,197 shares of the company's stock valued at $2,488,000 after purchasing an additional 28,310 shares during the period. Sunbelt Securities Inc. lifted its stake in shares of Hims & Hers Health by 183.3% in the 1st quarter. Sunbelt Securities Inc. now owns 1,700 shares of the company's stock valued at $50,000 after purchasing an additional 1,100 shares during the period. Finally, Tsfg LLC acquired a new position in shares of Hims & Hers Health in the 1st quarter valued at about $46,000. Institutional investors own 63.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. TD Cowen downgraded Hims & Hers Health from a "buy" rating to a "hold" rating and dropped their price objective for the company from $44.00 to $30.00 in a research note on Tuesday, April 29th. Piper Sandler reissued a "neutral" rating and issued a $39.00 price objective (up from $35.00) on shares of Hims & Hers Health in a research note on Tuesday, May 6th. Wall Street Zen downgraded Hims & Hers Health from a "buy" rating to a "hold" rating in a research note on Saturday. Bank of America boosted their price objective on Hims & Hers Health from $22.00 to $26.00 and gave the company an "underperform" rating in a research note on Tuesday, April 29th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Hims & Hers Health in a research note on Monday, June 23rd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $39.58.

Insider Transactions at Hims & Hers Health

In other news, insider Soleil Boughton sold 2,572 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $47.82, for a total value of $122,993.04. Following the completion of the sale, the insider directly owned 158,165 shares of the company's stock, valued at $7,563,450.30. This represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Andrew Dudum sold 65,110 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $59.22, for a total value of $3,855,814.20. Following the completion of the sale, the chief executive officer directly owned 95,105 shares of the company's stock, valued at approximately $5,632,118.10. This trade represents a 40.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 633,126 shares of company stock valued at $33,717,663. Corporate insiders own 13.71% of the company's stock.

Hims & Hers Health Trading Up 2.6%

HIMS stock traded up $1.29 during trading on Wednesday, reaching $51.75. 22,057,821 shares of the stock were exchanged, compared to its average volume of 24,058,495. The firm's 50 day moving average is $53.89 and its 200 day moving average is $41.45. Hims & Hers Health, Inc. has a twelve month low of $13.47 and a twelve month high of $72.98. The firm has a market cap of $11.58 billion, a P/E ratio of 75.00, a price-to-earnings-growth ratio of 1.86 and a beta of 2.02.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.12 by $0.08. The firm had revenue of $586.01 million during the quarter, compared to the consensus estimate of $535.21 million. Hims & Hers Health had a return on equity of 22.75% and a net margin of 9.24%. The company's quarterly revenue was up 110.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.05 earnings per share. As a group, analysts predict that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Hims & Hers Health Profile

Hims & Hers Health, Inc operates a telehealth consultation platform. It connects consumers to healthcare professionals, enabling them to access medical care for mental health, sexual health, dermatology and primary care. The company was founded in 2017 and is headquartered in San Francisco, CA.