Cetera Investment Advisers Buys 15,588 Shares of Hims & Hers Health, Inc. (NYSE:HIMS)

Key Points

• Cetera Investment Advisers significantly increased its stake in Hims & Hers Health, acquiring an additional 15,588 shares, bringing its total holdings to 30,216 shares valued at approximately $893,000.
• Hims & Hers Health reported a quarterly earnings miss, with an EPS of $0.17 compared to analysts' expectations of $0.18, and revenue of $544.83 million against forecasts of $550.06 million.
• Institutional investors currently hold 63.52% of Hims & Hers Health stock, reflecting growing interest from several hedge funds who have recently increased their positions in the company.

Cetera Investment Advisers grew its stake in shares of Hims & Hers Health, Inc. (NYSE:HIMS - Free Report) by 106.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,216 shares of the company's stock after buying an additional 15,588 shares during the period. Cetera Investment Advisers' holdings in Hims & Hers Health were worth $893,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of HIMS. UMB Bank n.a. increased its position in shares of Hims & Hers Health by 247.5% in the first quarter. UMB Bank n.a. now owns 1,310 shares of the company's stock worth $39,000 after purchasing an additional 933 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Hims & Hers Health by 47.7% in the first quarter. Larson Financial Group LLC now owns 1,419 shares of the company's stock worth $42,000 after purchasing an additional 458 shares during the last quarter. Tsfg LLC bought a new position in shares of Hims & Hers Health in the first quarter worth approximately $46,000. Fifth Third Bancorp increased its position in shares of Hims & Hers Health by 165.4% in 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 last quarter. Finally, Sunbelt Securities Inc. increased its position in shares of Hims & Hers Health by 183.3% in the first quarter. Sunbelt Securities Inc. now owns 1,700 shares of the company's stock worth $50,000 after purchasing an additional 1,100 shares during the last quarter. 63.52% of the stock is currently owned by institutional investors.

Hims & Hers Health Stock Performance

NYSE:HIMS opened at $47.88 on Wednesday. The firm has a market cap of $10.72 billion, a PE ratio of 59.85, a price-to-earnings-growth ratio of 3.16 and a beta of 2.08. Hims & Hers Health, Inc. has a fifty-two week low of $13.47 and a fifty-two week high of $72.98. The company has a debt-to-equity ratio of 1.72, a quick ratio of 4.46 and a current ratio of 4.98. The business has a 50 day moving average price of $53.39 and a 200-day moving average price of $45.30.

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HIMS shares. Wall Street Zen cut shares of Hims & Hers Health from a "buy" rating to a "hold" rating in a research report on Monday, July 28th. Truist Financial upped their price objective on shares of Hims & Hers Health from $45.00 to $48.00 and gave the stock a "hold" rating in a research report on Thursday, July 17th. Piper Sandler restated a "neutral" rating and issued a $39.00 price objective (up from $35.00) on shares of Hims & Hers Health in a research report on Tuesday, May 6th. Citigroup restated a "sell" rating on shares of Hims & Hers Health in a research report on Monday, June 23rd. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Hims & Hers Health in a research report on Tuesday, August 5th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $39.83.

Insiders Place Their Bets

In related news, insider Patrick Harrison Carroll sold 60,000 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $53.58, for a total value of $3,214,800.00. Following the completion of the sale, the insider owned 169,940 shares of the company's stock, valued at $9,105,385.20. This trade represents a 26.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Soleil Boughton sold 2,572 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $51.64, for a total value of $132,818.08. Following the completion of the sale, the insider directly owned 153,021 shares of the company's stock, valued at $7,902,004.44. The trade was a 1.65% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,460,276 shares of company stock worth $77,374,454. Insiders own 17.71% of the company's stock.

About Hims & Hers Health

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.

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