Hims & Hers Health, Inc. $HIMS Shares Sold by Renaissance Technologies LLC

Key Points

• Renaissance Technologies cut its Hims & Hers Health stake by 56% in the first quarter, selling 2.7 million shares and retaining 2.12 million shares valued at approximately $44 million. Institutional investors collectively own 63.52% of the company.
• Hims & Hers shares recently traded at $30.23, up 7.6%, despite the company reporting a quarterly EPS loss of $0.40 versus analysts’ expected $0.04 profit and revenue slightly below estimates. Revenue still increased 3.8% year over year.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $31.43; targets range from $24.50 to $40.00. Insider activity was also mixed, with a director buying shares while other insiders sold stock under a pre-arranged trading plan.

Renaissance Technologies LLC lessened its stake in Hims & Hers Health, Inc. (NYSE:HIMS - Free Report) by 56.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,118,080 shares of the company's stock after selling 2,699,929 shares during the quarter. Renaissance Technologies LLC owned 0.93% of Hims & Hers Health worth $43,971,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Hims & Hers Health by 7.2% during the fourth quarter. Vanguard Group Inc. now owns 20,925,666 shares of the company's stock worth $679,456,000 after acquiring an additional 1,407,651 shares during the period. State Street Corp lifted its holdings in Hims & Hers Health by 1.8% in the fourth quarter. State Street Corp now owns 7,305,525 shares of the company's stock valued at $237,210,000 after acquiring an additional 132,311 shares during the period. Geode Capital Management LLC lifted its holdings in Hims & Hers Health by 12.4% in the fourth quarter. Geode Capital Management LLC now owns 5,509,764 shares of the company's stock valued at $183,485,000 after acquiring an additional 608,950 shares during the period. Invesco Ltd. boosted its position in Hims & Hers Health by 62.7% in the 3rd quarter. Invesco Ltd. now owns 4,152,409 shares of the company's stock worth $235,525,000 after purchasing an additional 1,600,004 shares in the last quarter. Finally, Marex Group plc grew its stake in shares of Hims & Hers Health by 162.2% during the 4th quarter. Marex Group plc now owns 2,419,518 shares of the company's stock worth $78,562,000 after purchasing an additional 1,496,707 shares during the period. Hedge funds and other institutional investors own 63.52% of the company's stock.

Hims & Hers Health Trading Up 7.6%

Shares of HIMS stock opened at $30.23 on Tuesday. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.69 and a quick ratio of 1.56. The company has a market cap of $7.00 billion, a price-to-earnings ratio of -335.84, a PEG ratio of 79.05 and a beta of 2.35. The stock has a 50 day simple moving average of $30.91 and a 200-day simple moving average of $26.25. Hims & Hers Health, Inc. has a 1-year low of $13.74 and a 1-year high of $70.43.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last announced its earnings results on Monday, May 11th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.44). The business had revenue of $608.10 million for the quarter, compared to analysts' expectations of $616.84 million. Hims & Hers Health had a negative net margin of 0.56% and a positive return on equity of 6.10%. The company's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business earned $0.20 EPS. On average, equities research analysts expect that Hims & Hers Health, Inc. will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling at Hims & Hers Health

In related news, Director David B. Wells bought 48,400 shares of the business's stock in a transaction dated Tuesday, May 26th. The stock was acquired at an average price of $24.23 per share, with a total value of $1,172,732.00. Following the completion of the purchase, the director directly owned 224,417 shares of the company's stock, valued at approximately $5,437,623.91. This trade represents a 27.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Patrick Harrison Carroll sold 23,726 shares of the company's stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $35.00, for a total transaction of $830,410.00. Following the transaction, the insider owned 181,861 shares of the company's stock, valued at approximately $6,365,135. This trade represents a 11.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 83,126 shares of company stock valued at $2,711,339. Insiders own 11.76% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group set a $24.50 target price on shares of Hims & Hers Health in a report on Tuesday, May 12th. JPMorgan Chase & Co. dropped their price target on shares of Hims & Hers Health from $35.00 to $33.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 12th. Truist Financial lifted their price objective on shares of Hims & Hers Health from $23.00 to $27.00 and gave the company a "hold" rating in a report on Friday. Canaccord Genuity Group upped their price objective on shares of Hims & Hers Health from $32.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, July 1st. Finally, Weiss Ratings lowered shares of Hims & Hers Health from a "hold (c)" rating to a "sell (d)" rating in a research note on Tuesday, May 12th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Hims & Hers Health presently has an average rating of "Hold" and a consensus target price of $31.43.

About Hims & Hers Health

Hims & Hers Health, Inc is a telehealth platform providing direct-to-consumer personal care products and virtual medical services in the United States. Operating under the Hims & Hers brand, the company offers an integrated digital experience that connects users with licensed healthcare providers, enabling online consultations and prescriptions for a range of conditions. Its telemedicine infrastructure supports both prescription medications and over-the-counter products, with home delivery to patients' doorsteps.

The company's product portfolio addresses key areas of men's and women's health, including hair loss treatments, sexual wellness therapies, skincare regimens and mental health support.

Want to see what other hedge funds are holding HIMS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hims & Hers Health, Inc. (NYSE:HIMS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.