Neo Ivy Capital Management Decreases Stock Position in Hims & Hers Health, Inc. (NYSE:HIMS)

Key Points

• Neo Ivy Capital Management reduced its stake in Hims & Hers Health by 88.1%, now holding 19,838 shares valued at $586,000 as per the latest SEC 13F filing.
• CEO Andrew Dudum and CFO Oluyemi Okupe recently sold significant portions of their stocks, with Dudum decreasing his ownership by 58.93% and Okupe by 26.77%.
• Hims & Hers Health reported a 110.7% year-over-year increase in revenue, totaling $586.01 million for the last quarter, exceeding analysts' expectations.

Neo Ivy Capital Management reduced its stake in shares of Hims & Hers Health, Inc. (NYSE:HIMS - Free Report) by 88.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,838 shares of the company's stock after selling 146,896 shares during the period. Neo Ivy Capital Management's holdings in Hims & Hers Health were worth $586,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in HIMS. Signaturefd LLC lifted its stake in shares of Hims & Hers Health by 17.7% in the 1st quarter. Signaturefd LLC now owns 2,586 shares of the company's stock valued at $76,000 after purchasing an additional 388 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Hims & Hers Health in the fourth quarter valued at about $18,048,000. O Shaughnessy Asset Management LLC acquired a new position in Hims & Hers Health in the fourth quarter valued at about $208,000. Commonwealth Equity Services LLC lifted its position in Hims & Hers Health by 111.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 58,894 shares of the company's stock valued at $1,424,000 after buying an additional 31,062 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Hims & Hers Health by 128.5% in the 1st quarter. GAMMA Investing LLC now owns 5,143 shares of the company's stock worth $152,000 after acquiring an additional 2,892 shares during the last quarter. 63.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Michael Chi sold 2,100 shares of the company's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $57.52, for a total value of $120,792.00. Following the completion of the sale, the insider owned 278,654 shares in the company, valued at approximately $16,028,178.08. This represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Oluyemi Okupe sold 11,581 shares of the company's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $47.70, for a total transaction of $552,413.70. Following the completion of the sale, the chief financial officer owned 54,084 shares of the company's stock, valued at approximately $2,579,806.80. This represents a 17.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 788,368 shares of company stock valued at $42,410,254 over the last ninety days. 13.71% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on HIMS shares. Piper Sandler restated a "neutral" rating and set a $39.00 price target (up from $35.00) on shares of Hims & Hers Health in a research note on Tuesday, May 6th. Bank of America increased their target price on Hims & Hers Health from $22.00 to $26.00 and gave the stock an "underperform" rating in a research note on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Hims & Hers Health in a research report on Wednesday, May 7th. Truist Financial increased their price target on shares of Hims & Hers Health from $45.00 to $48.00 and gave the stock a "hold" rating in a research report on Thursday, July 17th. Finally, TD Cowen cut shares of Hims & Hers Health from a "buy" rating to a "hold" rating and reduced their price target for the stock from $44.00 to $30.00 in a research report on Tuesday, April 29th. 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, the company presently has a consensus rating of "Hold" and a consensus price target of $39.83.

Hims & Hers Health Trading Up 0.3%

HIMS traded up $0.18 on Friday, hitting $57.50. 46,302,225 shares of the company's stock were exchanged, compared to its average volume of 30,801,588. The firm has a market cap of $12.87 billion, a PE ratio of 83.33, a P/E/G ratio of 2.13 and a beta of 2.02. Hims & Hers Health, Inc. has a twelve month low of $13.47 and a twelve month high of $72.98. The stock has a fifty day moving average of $53.15 and a two-hundred day moving average of $42.88.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.12 by $0.08. The firm had revenue of $586.01 million for the quarter, compared to analysts' expectations of $535.21 million. Hims & Hers Health had a return on equity of 22.75% and a net margin of 9.24%. During the same period last year, the firm earned $0.05 EPS. The firm's revenue was up 110.7% compared to the same quarter last year. On average, analysts predict 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.