Massachusetts Financial Services Co. MA Makes New $1.24 Million Investment in Hims & Hers Health, Inc. (NYSE:HIMS)

Massachusetts Financial Services Co. MA purchased a new stake in shares of Hims & Hers Health, Inc. (NYSE:HIMS - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 42,012 shares of the company's stock, valued at approximately $1,241,000.

Other hedge funds also recently modified their holdings of the company. Sigma Planning Corp grew its position in Hims & Hers Health by 21.1% during the first quarter. Sigma Planning Corp now owns 58,874 shares of the company's stock worth $1,740,000 after buying an additional 10,247 shares in the last quarter. Signaturefd LLC boosted its stake in Hims & Hers Health by 17.7% in the 1st quarter. Signaturefd LLC now owns 2,586 shares of the company's stock worth $76,000 after purchasing an additional 388 shares during the period. Securian Asset Management Inc. bought a new stake in Hims & Hers Health during the 1st quarter worth about $429,000. CWM LLC raised its holdings in shares of Hims & Hers Health by 38.0% in the 1st quarter. CWM LLC now owns 9,556 shares of the company's stock valued at $282,000 after purchasing an additional 2,633 shares during the period. Finally, Mutual of America Capital Management LLC raised its holdings in Hims & Hers Health by 239.8% in the 1st quarter. Mutual of America Capital Management LLC now owns 98,402 shares of the company's stock valued at $2,908,000 after acquiring an additional 69,441 shares during the period. Hedge funds and other institutional investors own 63.52% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Truist Financial lifted their target price on shares of Hims & Hers Health from $45.00 to $48.00 and gave the stock a "hold" rating in a research note on Thursday, July 17th. Needham & Company LLC reaffirmed a "hold" rating on shares of Hims & Hers Health in a research note on Monday, June 23rd. Morgan Stanley reissued an "equal weight" rating and set a $40.00 target price on shares of Hims & Hers Health in a research report on Wednesday, June 11th. TD Cowen cut shares of Hims & Hers Health from a "buy" rating to a "hold" rating and cut their price target for the stock from $44.00 to $30.00 in a report on Tuesday, April 29th. Finally, Wall Street Zen upgraded shares of Hims & Hers Health from a "hold" rating to a "buy" rating in a report on Sunday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Hims & Hers Health currently has an average rating of "Hold" and an average target price of $39.83.

Hims & Hers Health Stock Down 2.5%

NYSE:HIMS traded down $1.47 on Thursday, reaching $56.55. 13,698,633 shares of the company's stock were exchanged, compared to its average volume of 33,593,137. The business has a fifty day moving average of $53.31 and a 200-day moving average of $42.35. Hims & Hers Health, Inc. has a 52-week low of $13.47 and a 52-week high of $72.98. The firm has a market capitalization of $12.66 billion, a price-to-earnings ratio of 82.10, a price-to-earnings-growth ratio of 1.84 and a beta of 2.02.

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, beating analysts' consensus estimates of $0.12 by $0.08. Hims & Hers Health had a return on equity of 22.75% and a net margin of 9.24%. The firm had revenue of $586.01 million during the quarter, compared to the consensus estimate of $535.21 million. During the same period in the prior year, the company posted $0.05 earnings per share. The firm's quarterly revenue was up 110.7% compared to the same quarter last year. As a group, equities analysts anticipate that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Insider Activity

In related news, insider Michael Chi sold 17,102 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $59.75, for a total transaction of $1,021,844.50. Following the sale, the insider 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Andrew Dudum sold 128,127 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $58.40, for a total value of $7,482,616.80. Following the sale, the chief executive officer directly owned 89,311 shares in the company, valued at approximately $5,215,762.40. The trade was a 58.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 772,518 shares of company stock worth $41,519,462 over the last 90 days. 13.71% of the stock is currently owned by corporate insiders.

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.