Oppenheimer & Co. Inc. Cuts Holdings in Hims & Hers Health, Inc. $HIMS

Key Points

• Oppenheimer & Co. Inc. cut its stake in Hims & Hers Health by 83.8% in the fourth quarter, selling 37,448 shares and ending with 7,254 shares worth about $236,000.
• Hims & Hers Health reported better-than-expected quarterly earnings, posting EPS of $0.08 versus the $0.02 consensus estimate, while revenue rose 28.4% year over year to $617.82 million.
• Analyst sentiment remains mixed: the stock has a Hold consensus rating with an average target price of $31.86, even as several firms recently raised or lowered their price targets.

Oppenheimer & Co. Inc. reduced its position in Hims & Hers Health, Inc. (NYSE:HIMS - Free Report) by 83.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,254 shares of the company's stock after selling 37,448 shares during the period. Oppenheimer & Co. Inc.'s holdings in Hims & Hers Health were worth $236,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Pathway Capital Management LP purchased a new stake in shares of Hims & Hers Health in the third quarter worth about $6,766,000. Steadview Capital Management LLC lifted its position in shares of Hims & Hers Health by 80.0% in the third quarter. Steadview Capital Management LLC now owns 701,845 shares of the company's stock worth $39,809,000 after buying an additional 311,845 shares in the last quarter. Farallon Capital Management LLC lifted its position in shares of Hims & Hers Health by 30.8% in the third quarter. Farallon Capital Management LLC now owns 10,746,852 shares of the company's stock worth $609,561,000 after buying an additional 2,533,271 shares in the last quarter. BIT Capital GmbH lifted its position in shares of Hims & Hers Health by 73.8% in the third quarter. BIT Capital GmbH now owns 2,210,384 shares of the company's stock worth $125,373,000 after buying an additional 938,728 shares in the last quarter. Finally, State of Michigan Retirement System lifted its position in shares of Hims & Hers Health by 49.2% in the third quarter. State of Michigan Retirement System now owns 2,057,700 shares of the company's stock worth $116,713,000 after buying an additional 678,600 shares in the last quarter. 63.52% of the stock is currently owned by hedge funds and other institutional investors.

Hims & Hers Health Stock Up 0.7%

Shares of NYSE:HIMS opened at $28.46 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.70 and a debt-to-equity ratio of 1.80. Hims & Hers Health, Inc. has a 12 month low of $13.74 and a 12 month high of $70.43. The company has a 50-day moving average price of $22.56 and a 200 day moving average price of $29.75. The company has a market cap of $6.49 billion, a price-to-earnings ratio of 55.81, a PEG ratio of 3.85 and a beta of 2.43.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last announced its quarterly earnings results on Monday, February 23rd. The company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.06. Hims & Hers Health had a net margin of 5.47% and a return on equity of 22.48%. The firm had revenue of $617.82 million during the quarter, compared to the consensus estimate of $619.48 million. During the same quarter last year, the firm earned $0.11 EPS. The firm's revenue for the quarter was up 28.4% compared to the same quarter last year. As a group, equities research analysts predict that Hims & Hers Health, Inc. will post 0.53 earnings per share for the current year.

Wall Street Analyst Weigh In

HIMS has been the topic of a number of research analyst reports. Leerink Partners boosted their target price on Hims & Hers Health from $17.50 to $25.00 and gave the stock a "market perform" rating in a research report on Monday, March 16th. Needham & Company LLC raised shares of Hims & Hers Health from a "hold" rating to a "buy" rating and set a $30.00 price target for the company in a report on Monday, March 9th. TD Cowen lowered their price target on shares of Hims & Hers Health from $25.00 to $23.00 and set a "hold" rating for the company in a report on Friday, March 27th. Truist Financial reaffirmed a "hold" rating and issued a $18.00 price target (down from $37.00) on shares of Hims & Hers Health in a report on Tuesday, February 24th. Finally, Barclays increased their price target on shares of Hims & Hers Health from $25.00 to $29.00 and gave the company an "overweight" rating in a report on Wednesday, March 11th. Four analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Hims & Hers Health currently has a consensus rating of "Hold" and an average target price of $31.86.

Insider Activity

In other Hims & Hers Health news, insider Irene Becklund sold 5,529 shares of the firm's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $24.69, for a total value of $136,511.01. Following the completion of the sale, the insider owned 8,752 shares of the company's stock, valued at $216,086.88. This trade represents a 38.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Soleil Boughton sold 9,463 shares of the firm's stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $30.00, for a total transaction of $283,890.00. Following the completion of the sale, the insider directly owned 299,368 shares of the company's stock, valued at approximately $8,981,040. The trade was a 3.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 204,857 shares of company stock worth $5,285,706 in the last ninety days. 11.76% of the stock is currently owned by company insiders.

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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