BIT Capital GmbH Raises Stock Position in Hims & Hers Health, Inc. (NYSE:HIMS)

Key Points

• BIT Capital GmbH increased its stake in Hims & Hers Health by 7.4%, holding approximately 4.2% of its investment portfolio in the company.
• Hims & Hers Health's stock price recently declined by 5.5%, despite reporting strong quarterly earnings with a 110.7% revenue increase year-over-year.
• Institutional investors currently own 63.52% of Hims & Hers Health, indicating significant interest from large financial entities.

BIT Capital GmbH grew its position in Hims & Hers Health, Inc. (NYSE:HIMS - Free Report) by 7.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,642,493 shares of the company's stock after purchasing an additional 112,949 shares during the period. Hims & Hers Health comprises about 4.2% of BIT Capital GmbH's portfolio, making the stock its 8th largest position. BIT Capital GmbH owned about 0.74% of Hims & Hers Health worth $48,536,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in HIMS. UMB Bank n.a. grew its position in Hims & Hers Health by 247.5% during the first quarter. UMB Bank n.a. now owns 1,310 shares of the company's stock valued at $39,000 after buying an additional 933 shares during the period. Larson Financial Group LLC grew its position in Hims & Hers Health by 47.7% during the first quarter. Larson Financial Group LLC now owns 1,419 shares of the company's stock valued at $42,000 after buying an additional 458 shares during the period. Fifth Third Bancorp boosted its position in Hims & Hers Health by 165.4% during the first quarter. Fifth Third Bancorp now owns 1,542 shares of the company's stock worth $46,000 after purchasing an additional 961 shares during the period. Tsfg LLC bought a new position in Hims & Hers Health during the first quarter worth about $46,000. Finally, N.E.W. Advisory Services LLC bought a new position in Hims & Hers Health during the first quarter worth about $49,000. Hedge funds and other institutional investors own 63.52% of the company's stock.

Hims & Hers Health Stock Performance

HIMS traded down $4.78 on Tuesday, reaching $58.57. The company had a trading volume of 50,938,215 shares, compared to its average volume of 33,975,656. The business has a 50 day simple moving average of $53.79 and a 200 day simple moving average of $44.51. The company has a market cap of $13.11 billion, a price-to-earnings ratio of 85.43, a P/E/G ratio of 2.31 and a beta of 2.08. Hims & Hers Health, Inc. has a 52-week low of $13.47 and a 52-week high of $72.98.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.17 earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.01). The company had revenue of $544.83 million during the quarter, compared to analysts' expectations of $550.06 million. Hims & Hers Health had a net margin of 9.24% and a return on equity of 22.75%. The company's revenue for the quarter was up 72.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 earnings per share. As a group, equities research analysts predict that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Insider Activity at Hims & Hers Health

In other Hims & Hers Health news, CEO Andrew Dudum sold 125,335 shares of Hims & Hers Health stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $49.54, for a total transaction of $6,209,095.90. Following the transaction, the chief executive officer directly owned 92,313 shares of the company's stock, valued at approximately $4,573,186.02. This trade represents a 57.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Oluyemi Okupe sold 11,581 shares of Hims & Hers Health stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $47.70, for a total transaction of $552,413.70. Following the transaction, the chief financial officer directly owned 54,084 shares in the company, valued at $2,579,806.80. This trade represents a 17.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 737,704 shares of company stock valued at $40,644,035. Company insiders own 17.71% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on HIMS. Bank of America increased their target price on shares of Hims & Hers Health from $22.00 to $26.00 and gave the stock an "underperform" rating in a research report on Tuesday, April 29th. Piper Sandler reiterated a "neutral" rating and set a $39.00 target price (up previously from $35.00) on shares of Hims & Hers Health in a research report on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Hims & Hers Health in a research report on Wednesday, May 7th. Wall Street Zen lowered shares of Hims & Hers Health from a "buy" rating to a "hold" rating in a research report on Monday, July 28th. Finally, Morgan Stanley reiterated an "equal weight" rating and set a $40.00 target price on shares of Hims & Hers Health in a research report on Wednesday, June 11th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $39.83.

Hims & Hers Health Company 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.