OP Asset Management Ltd Makes New Investment in Hims & Hers Health, Inc. $HIMS

Key Points

• OP Asset Management opened a new position in Hims & Hers Health during the first quarter, buying 36,061 shares valued at about $749,000.
• Insider activity was mixed: COO Michael Chi sold 14,027 shares, while Director David B. Wells bought 48,400 shares. Overall, insiders sold 163,973 shares in the last quarter, though insiders still own 11.76% of the company.
• Hims & Hers shares were trading around $34.54, and the company recently reported a quarterly earnings miss with EPS of -$0.40 versus expectations of $0.04, even as revenue rose 3.8% year over year to $608.1 million.

OP Asset Management Ltd acquired a new stake in shares of Hims & Hers Health, Inc. (NYSE:HIMS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 36,061 shares of the company's stock, valued at approximately $749,000.

Other hedge funds have also recently modified their holdings of the company. BAM Wealth Management LLC increased its stake in shares of Hims & Hers Health by 5.6% in the 4th quarter. BAM Wealth Management LLC now owns 7,380 shares of the company's stock worth $240,000 after acquiring an additional 393 shares in the last quarter. Xponance Inc. lifted its position in Hims & Hers Health by 1.5% during the 3rd quarter. Xponance Inc. now owns 28,195 shares of the company's stock valued at $1,599,000 after acquiring an additional 419 shares during the period. Captrust Financial Advisors boosted its stake in Hims & Hers Health by 3.1% during the second quarter. Captrust Financial Advisors now owns 14,612 shares of the company's stock worth $728,000 after acquiring an additional 443 shares in the last quarter. Sherman Porfolios LLC boosted its stake in Hims & Hers Health by 10.5% during the third quarter. Sherman Porfolios LLC now owns 4,934 shares of the company's stock worth $280,000 after acquiring an additional 467 shares in the last quarter. Finally, Binnacle Investments Inc purchased a new stake in Hims & Hers Health in the third quarter worth about $28,000. Institutional investors own 63.52% of the company's stock.

Insiders Place Their Bets

In other news, COO Michael Chi sold 14,027 shares of the business's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $31.50, for a total value of $441,850.50. Following the completion of the transaction, the chief operating officer owned 432,124 shares in the company, valued at $13,611,906. The trade was a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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. Also, Director David B. Wells acquired 48,400 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average cost of $24.23 per share, for a total transaction of $1,172,732.00. Following the completion of the transaction, the director directly owned 224,417 shares of the company's stock, valued at $5,437,623.91. The trade was a 27.50% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have sold 163,973 shares of company stock worth $4,859,194. 11.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on HIMS shares. Leerink Partners raised their target price on shares of Hims & Hers Health from $17.50 to $25.00 and gave the company a "market perform" rating in a research note on Monday, March 16th. Zacks Research cut Hims & Hers Health from a "hold" rating to a "strong sell" rating in a research report on Monday, June 8th. Citigroup upped their price target on Hims & Hers Health from $24.00 to $28.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 12th. Truist Financial lifted their price objective on Hims & Hers Health from $18.00 to $23.00 and gave the company a "hold" rating in a research note on Friday, May 22nd. Finally, Weiss Ratings downgraded Hims & Hers Health from a "hold (c)" rating to a "sell (d)" rating in a report on Tuesday, May 12th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $29.37.

Hims & Hers Health Trading Up 3.4%

Shares of NYSE HIMS opened at $34.54 on Wednesday. The firm's 50 day moving average price is $28.18 and its 200-day moving average price is $26.31. The company has a market cap of $7.99 billion, a PE ratio of -383.76, a P/E/G ratio of 47.73 and a beta of 2.37. Hims & Hers Health, Inc. has a 52-week low of $13.74 and a 52-week high of $70.43. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.56 and a current ratio of 1.69.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.44). Hims & Hers Health had a negative net margin of 0.56% and a positive return on equity of 6.10%. The firm had revenue of $608.10 million for the quarter, compared to the consensus estimate of $616.84 million. During the same period last year, the business earned $0.20 EPS. Hims & Hers Health's revenue was up 3.8% on a year-over-year basis. On average, equities research analysts expect that Hims & Hers Health, Inc. will post 0.05 EPS for the current fiscal year.

Hims & Hers Health Profile

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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