Cerity Partners LLC Acquires Shares of 11,006 Hims & Hers Health, Inc. (NYSE:HIMS)

Key Points

• Cerity Partners LLC has acquired a new stake in Hims & Hers Health, purchasing 11,006 shares valued at approximately $325,000.
• Hims & Hers Health reported a significant earnings beat in their latest quarterly results, with $0.20 EPS surpassing estimates and a year-over-year revenue increase of 110.7%.
• Insider transactions indicate significant selling activity, with 785,132 shares sold by company insiders, contributing to a decrease in their overall ownership of the stock.

Cerity Partners LLC acquired a new position in shares of Hims & Hers Health, Inc. (NYSE:HIMS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,006 shares of the company's stock, valued at approximately $325,000.

Several other institutional investors and hedge funds also recently made changes to their positions in HIMS. Commonwealth Equity Services LLC raised its position in shares of Hims & Hers Health by 111.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 58,894 shares of the company's stock valued at $1,424,000 after acquiring an additional 31,062 shares during the last quarter. American Century Companies Inc. raised its position in shares of Hims & Hers Health by 8.8% during the 4th quarter. American Century Companies Inc. now owns 140,758 shares of the company's stock valued at $3,404,000 after acquiring an additional 11,425 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Hims & Hers Health during the 4th quarter valued at $861,000. LPL Financial LLC raised its position in shares of Hims & Hers Health by 1.0% during the 4th quarter. LPL Financial LLC now owns 97,958 shares of the company's stock valued at $2,369,000 after acquiring an additional 980 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Hims & Hers Health by 11.1% during the 4th quarter. Vanguard Group Inc. now owns 20,257,116 shares of the company's stock valued at $489,817,000 after acquiring an additional 2,020,722 shares during the last quarter. Institutional investors own 63.52% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on HIMS. Citigroup restated a "sell" rating on shares of Hims & Hers Health in a research report on Monday, June 23rd. Piper Sandler restated a "neutral" rating and issued a $39.00 price objective (up previously from $35.00) on shares of Hims & Hers Health in a research report on Tuesday, May 6th. Morgan Stanley restated an "equal weight" rating and issued a $40.00 price objective on shares of Hims & Hers Health in a research report on Wednesday, June 11th. Needham & Company LLC restated a "hold" rating on shares of Hims & Hers Health in a research report on Monday, June 23rd. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Hims & Hers Health in a research report on Wednesday, May 7th. Three 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. According to data from MarketBeat, Hims & Hers Health has an average rating of "Hold" and an average price target of $39.83.

Insider Transactions at Hims & Hers Health

In related news, insider Michael Chi sold 17,102 shares of the firm's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $59.75, for a total value of $1,021,844.50. Following the completion of the sale, the insider directly owned 278,654 shares in the company, valued at approximately $16,649,576.50. This trade represents a 5.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Andrew Dudum sold 128,127 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $56.76, for a total transaction of $7,272,488.52. Following the completion of the sale, the chief executive officer owned 160,215 shares of the company's stock, valued at $9,093,803.40. This trade represents a 44.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 737,704 shares of company stock worth $40,644,035 in the last three months. Insiders own 13.71% of the company's stock.

Hims & Hers Health Price Performance

HIMS stock traded up $3.83 during trading hours on Thursday, reaching $69.36. 16,510,957 shares of the stock were exchanged, compared to its average volume of 33,734,168. The firm's 50-day moving average is $53.21 and its 200-day moving average is $43.51. Hims & Hers Health, Inc. has a 12 month low of $13.47 and a 12 month high of $72.98. The company has a market cap of $15.53 billion, a price-to-earnings ratio of 100.12, a PEG ratio of 2.22 and a beta of 2.02.

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