Lake Street Private Wealth LLC Boosts Stake in Hims & Hers Health, Inc. (NYSE:HIMS)

Lake Street Private Wealth LLC lifted its position in shares of Hims & Hers Health, Inc. (NYSE:HIMS - Free Report) by 17.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 156,266 shares of the company's stock after purchasing an additional 23,098 shares during the period. Lake Street Private Wealth LLC owned 0.07% of Hims & Hers Health worth $4,618,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Diligent Investors LLC purchased a new position in Hims & Hers Health in the first quarter worth $322,000. RFG Advisory LLC bought a new stake in shares of Hims & Hers Health during the 1st quarter worth $427,000. Strong Tower Advisory Services purchased a new position in shares of Hims & Hers Health in the 1st quarter worth about $572,000. Fiduciary Alliance LLC bought a new position in Hims & Hers Health during the first quarter valued at about $1,465,000. Finally, Rhumbline Advisers grew its position in Hims & Hers Health by 15.7% during the first quarter. Rhumbline Advisers now owns 597,331 shares of the company's stock valued at $17,651,000 after buying an additional 81,107 shares during the period. 63.52% of the stock is currently owned by hedge funds and other institutional investors.

Hims & Hers Health Stock Up 7.0%

HIMS traded up $3.67 during trading on Friday, reaching $56.44. 41,519,706 shares of the company were exchanged, compared to its average volume of 20,626,944. Hims & Hers Health, Inc. has a 12-month low of $13.47 and a 12-month high of $72.98. The company's 50-day moving average is $41.72 and its two-hundred day moving average is $36.90. The company has a market cap of $12.63 billion, a price-to-earnings ratio of 128.28 and a beta of 2.09.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.08. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The firm had revenue of $586.01 million for the quarter, compared to the consensus estimate of $535.21 million. During the same period in the prior year, the firm posted $0.05 earnings per share. The company's revenue for the quarter was up 110.7% on a year-over-year basis. Equities analysts forecast that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Analysts Set New Price Targets

HIMS has been the topic of a number of research analyst reports. TD Cowen cut shares of Hims & Hers Health from a "buy" rating to a "hold" rating and dropped their target price for the company from $44.00 to $30.00 in a research note on Tuesday, April 29th. Leerink Partners lifted their price target on shares of Hims & Hers Health from $24.00 to $40.00 and gave the stock a "market perform" rating in a report on Tuesday, February 25th. Canaccord Genuity Group increased their price objective on Hims & Hers Health from $38.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. Needham & Company LLC raised their target price on Hims & Hers Health from $61.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Citigroup reaffirmed a "sell" rating and set a $30.00 price target (up previously from $25.00) on shares of Hims & Hers Health in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $38.00.

Insiders Place Their Bets

In other news, CFO Oluyemi Okupe sold 11,581 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $52.98, for a total value of $613,561.38. Following the transaction, the chief financial officer now owns 39,153 shares of the company's stock, valued at approximately $2,074,325.94. This represents a 22.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Andrew Dudum sold 128,127 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $33.98, for a total value of $4,353,755.46. Following the transaction, the chief executive officer now owns 173,655 shares of the company's stock, valued at approximately $5,900,796.90. The trade was a 42.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 617,367 shares of company stock worth $25,227,888 in the last three months. 13.71% of the stock is currently owned by corporate insiders.

Hims & Hers Health 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.