Hims & Hers Health, Inc. $HIMS Stock Position Trimmed by Wellington Management Group LLP

Key Points

• Wellington Management cut its Hims & Hers Health position by 67.8% in the second quarter, selling 660,843 shares and retaining 313,463 shares valued at approximately $10.9 million.
• Hims & Hers reported strong revenue growth of 38.2% year over year to $753.2 million, but its loss of $0.37 per share significantly missed the $0.05 loss expected by analysts.
• The stock opened at $27.66, while analysts maintained a consensus “Hold” rating with a $32.50 price target; insiders have also sold approximately $6.1 million in shares over the past quarter.

Wellington Management Group LLP trimmed its position in shares of Hims & Hers Health, Inc. (NYSE:HIMS - Free Report) by 67.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 313,463 shares of the company's stock after selling 660,843 shares during the period. Wellington Management Group LLP owned 0.13% of Hims & Hers Health worth $10,868,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc raised its holdings in shares of Hims & Hers Health by 801.2% during the second quarter. Versant Capital Management Inc now owns 748 shares of the company's stock valued at $26,000 after buying an additional 665 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Hims & Hers Health by 70.0% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 775 shares of the company's stock worth $27,000 after buying an additional 319 shares in the last quarter. Binnacle Investments Inc bought a new position in Hims & Hers Health in the 3rd quarter worth approximately $28,000. Geneos Wealth Management Inc. acquired a new stake in Hims & Hers Health in the 1st quarter valued at approximately $30,000. Finally, Greenline Wealth Management LLC acquired a new stake in Hims & Hers Health in the 4th quarter valued at approximately $36,000. Institutional investors own 63.52% of the company's stock.

Insider Activity

In other Hims & Hers Health news, insider Patrick Carroll sold 23,726 shares of the company's stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $35.00, for a total transaction of $830,410.00. Following the completion of the sale, the insider directly owned 181,861 shares of the company's stock, valued at approximately $6,365,135. This represents a 11.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Chi sold 14,027 shares of the firm's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $31.50, for a total transaction of $441,850.50. Following the completion of the transaction, the chief operating officer owned 432,124 shares of the company's stock, valued at approximately $13,611,906. The trade was a 3.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 190,227 shares of company stock worth $6,133,613. 11.76% of the stock is owned by company insiders.

Hims & Hers Health Stock Performance

HIMS opened at $27.66 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 0.93 and a debt-to-equity ratio of 4.21. The firm has a market cap of $6.45 billion, a PE ratio of -43.90 and a beta of 2.42. The business has a fifty day simple moving average of $31.55 and a 200-day simple moving average of $26.90. Hims & Hers Health, Inc. has a fifty-two week low of $13.74 and a fifty-two week high of $65.30.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.32). Hims & Hers Health had a negative return on equity of 6.51% and a negative net margin of 5.51%.The company had revenue of $753.21 million for the quarter, compared to analyst estimates of $698.90 million. During the same period last year, the firm earned $0.17 earnings per share. The firm's revenue for the quarter was up 38.2% on a year-over-year basis.

Wall Street Analyst Weigh In

HIMS has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on Hims & Hers Health from $25.00 to $26.00 and gave the stock a "hold" rating in a research report on Tuesday, August 11th. Wall Street Zen raised Hims & Hers Health from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Citigroup cut their price objective on shares of Hims & Hers Health from $35.00 to $33.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 11th. Bank of America upped their price objective on shares of Hims & Hers Health from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Tuesday, August 11th. Finally, Canaccord Genuity Group increased their target price on shares of Hims & Hers Health from $32.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, July 1st. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Hims & Hers Health currently has a consensus rating of "Hold" and a consensus price target of $32.50.

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.

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