Main Street Research LLC Acquires New Shares in Hims & Hers Health, Inc. (NYSE:HIMS)

Main Street Research LLC bought a new stake in Hims & Hers Health, Inc. (NYSE:HIMS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,100 shares of the company's stock, valued at approximately $210,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in Hims & Hers Health during the 4th quarter worth $18,048,000. O Shaughnessy Asset Management LLC bought a new stake in shares of Hims & Hers Health during the fourth quarter worth about $208,000. Commonwealth Equity Services LLC grew its holdings in shares of Hims & Hers Health by 111.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 58,894 shares of the company's stock worth $1,424,000 after purchasing an additional 31,062 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Hims & Hers Health by 51.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 17,225 shares of the company's stock valued at $417,000 after buying an additional 5,885 shares during the period. Finally, Amundi raised its holdings in Hims & Hers Health by 49.1% in the 4th quarter. Amundi now owns 12,741 shares of the company's stock valued at $328,000 after buying an additional 4,197 shares during the last quarter. Institutional investors and hedge funds own 63.52% of the company's stock.

Insider Activity at Hims & Hers Health

In related news, insider Michael Chi sold 17,102 shares of the firm's stock in a transaction that occurred on 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 sale, the insider directly owned 278,654 shares of the company's stock, valued at $16,649,576.50. This trade represents a 5.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Oluyemi Okupe sold 23,107 shares of the firm's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $47.25, for a total value of $1,091,805.75. Following the transaction, the chief financial officer directly owned 63,222 shares in the company, valued at approximately $2,987,239.50. This represents a 26.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 670,250 shares of company stock worth $34,487,591 in the last ninety days. Corporate insiders own 13.71% of the company's stock.

Analysts Set New Price Targets

HIMS has been the topic of a number of analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Hims & Hers Health in a research report on Monday, June 23rd. Citigroup restated a "sell" rating on shares of Hims & Hers Health in a report on Monday, June 23rd. TD Cowen lowered shares of Hims & Hers Health from a "buy" rating to a "hold" rating and reduced their price objective for the company from $44.00 to $30.00 in a research note on Tuesday, April 29th. UBS Group set a $30.00 price objective on Hims & Hers Health in a research note on Monday, June 23rd. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $39.00 price objective (up previously from $35.00) on shares of Hims & Hers Health in a research report on Tuesday, May 6th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $39.58.

Hims & Hers Health Stock Up 4.5%

NYSE HIMS traded up $2.18 on Wednesday, reaching $51.14. The company had a trading volume of 39,400,648 shares, compared to its average volume of 23,723,014. Hims & Hers Health, Inc. has a 52-week low of $13.47 and a 52-week high of $72.98. The stock has a market capitalization of $11.45 billion, a P/E ratio of 113.86, a P/E/G ratio of 1.80 and a beta of 2.02. The company's fifty day moving average is $52.90 and its 200 day moving average is $40.59.

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

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.