CenterBook Partners LP Buys Shares of 131,828 Hims & Hers Health, Inc. (NYSE:HIMS)

Key Points

• CenterBook Partners LP made a new investment of approximately $3.90 million in Hims & Hers Health, acquiring 131,828 shares during the first quarter.
• Insider trading activity saw significant sales, with CFO Oluyemi Okupe selling 11,581 shares and another insider selling 2,572 shares, indicating a 1.63% and 17.64% decrease in their positions, respectively.
• Hims & Hers Health reported a net revenue of $544.83 million for the last quarter but missed EPS estimates, posting $0.17 compared to the consensus of $0.18.

CenterBook Partners LP bought a new stake in Hims & Hers Health, Inc. (NYSE:HIMS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 131,828 shares of the company's stock, valued at approximately $3,896,000. CenterBook Partners LP owned 0.06% of Hims & Hers Health at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HIMS. Signaturefd LLC boosted its position in shares of Hims & Hers Health by 17.7% during the first quarter. Signaturefd LLC now owns 2,586 shares of the company's stock worth $76,000 after buying an additional 388 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Hims & Hers Health during the fourth quarter worth about $18,048,000. O Shaughnessy Asset Management LLC acquired a new position in shares of Hims & Hers Health during the fourth quarter worth about $208,000. GAMMA Investing LLC boosted its position in shares of Hims & Hers Health by 128.5% during the first quarter. GAMMA Investing LLC now owns 5,143 shares of the company's stock worth $152,000 after buying an additional 2,892 shares during the period. Finally, New York State Teachers Retirement System boosted its position in shares of Hims & Hers Health by 95.2% during the first quarter. New York State Teachers Retirement System now owns 194,795 shares of the company's stock worth $5,756,000 after buying an additional 94,983 shares during the period. 63.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Piper Sandler reaffirmed a "neutral" rating and set a $39.00 price objective (up from $35.00) on shares of Hims & Hers Health in a research report on Tuesday, May 6th. Citigroup reiterated a "sell" rating on shares of Hims & Hers Health in a report on Monday, June 23rd. UBS Group set a $30.00 target price on Hims & Hers Health in a report on Monday, June 23rd. TD Cowen lowered 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. Finally, Truist Financial upped their price objective on Hims & Hers Health from $45.00 to $48.00 and gave the company a "hold" rating in a research note on Thursday, July 17th. Three equities 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 company's stock. According to data from MarketBeat, Hims & Hers Health presently has a consensus rating of "Hold" and an average target price of $39.83.

Insider Transactions at Hims & Hers Health

In related news, CFO Oluyemi Okupe sold 23,107 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $47.25, for a total transaction of $1,091,805.75. Following the sale, the chief financial officer owned 63,222 shares of the company's stock, valued at $2,987,239.50. This represents a 26.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Andrew Dudum sold 128,127 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $56.76, for a total value of $7,272,488.52. Following the sale, the chief executive officer directly owned 160,215 shares in the company, valued at $9,093,803.40. This represents a 44.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 797,704 shares of company stock worth $43,858,835 over the last three months. Company insiders own 13.71% of the company's stock.

Hims & Hers Health Stock Performance

Shares of Hims & Hers Health stock traded up $0.82 on Friday, hitting $51.87. The stock had a trading volume of 23,133,738 shares, compared to its average volume of 37,328,096. Hims & Hers Health, Inc. has a twelve month low of $13.47 and a twelve month high of $72.98. The business's 50 day moving average is $53.66 and its two-hundred day moving average is $44.95. The company has a quick ratio of 1.32, a current ratio of 4.98 and a debt-to-equity ratio of 1.72. The stock has a market cap of $11.61 billion, a price-to-earnings ratio of 64.84, a price-to-earnings-growth ratio of 3.23 and a beta of 2.08.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Hims & Hers Health had a net margin of 9.63% and a return on equity of 26.26%. The firm had revenue of $544.83 million during the quarter, compared to analyst estimates of $550.06 million. During the same period in the previous year, the company posted $0.06 EPS. Hims & Hers Health's revenue for the quarter was up 72.6% compared to the same quarter last year. Analysts forecast that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

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.