Principal Financial Group Inc. Has $26.62 Million Stock Position in Hims & Hers Health, Inc. $HIMS

Key Points

• Principal Financial Group nearly doubled its stake in Hims & Hers Health in Q1, buying 632,282 additional shares and ending with 1,282,266 shares worth about $26.62 million.
• Several insiders sold shares in June, including COO Michael Chi and insider Irene Becklund; the sales were made under pre-arranged Rule 10b5-1 plans to cover tax obligations tied to equity vesting.
• Analysts remain mixed on HIMS: recent price targets range from $23 to $40, and the stock currently carries an average “Hold” rating with an average target price of $30.70.

Principal Financial Group Inc. lifted its stake in shares of Hims & Hers Health, Inc. (NYSE:HIMS - Free Report) by 97.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,282,266 shares of the company's stock after purchasing an additional 632,282 shares during the period. Principal Financial Group Inc. owned 0.56% of Hims & Hers Health worth $26,620,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in HIMS. BAM Wealth Management LLC increased its holdings in Hims & Hers Health by 5.6% during the fourth quarter. BAM Wealth Management LLC now owns 7,380 shares of the company's stock worth $240,000 after buying an additional 393 shares during the last quarter. Captrust Financial Advisors lifted its stake in Hims & Hers Health by 3.1% in the second quarter. Captrust Financial Advisors now owns 14,612 shares of the company's stock valued at $728,000 after acquiring an additional 443 shares during the last quarter. Binnacle Investments Inc bought a new position in shares of Hims & Hers Health in the 3rd quarter valued at about $28,000. Cura Wealth Advisors LLC grew its position in shares of Hims & Hers Health by 8.5% in the 4th quarter. Cura Wealth Advisors LLC now owns 6,512 shares of the company's stock valued at $211,000 after acquiring an additional 512 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC increased its stake in shares of Hims & Hers Health by 1.1% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 46,607 shares of the company's stock worth $1,513,000 after purchasing an additional 521 shares during the last quarter. Institutional investors and hedge funds own 63.52% of the company's stock.

Insider Buying and Selling at Hims & Hers Health

In other Hims & Hers Health news, insider Irene Becklund sold 4,490 shares of the company's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $31.50, for a total transaction of $141,435.00. Following the transaction, the insider owned 6,790 shares in the company, valued at approximately $213,885. This represents a 39.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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, COO Michael Chi sold 14,027 shares of the firm's stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $31.50, for a total transaction of $441,850.50. Following the completion of the transaction, the chief operating officer directly owned 432,124 shares in the company, valued at approximately $13,611,906. The trade was a 3.14% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders have sold a total of 83,126 shares of company stock worth $2,711,339 in the last ninety days. 11.76% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

HIMS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Hims & Hers Health from $35.00 to $33.00 and set an "overweight" rating on the stock in a report on Tuesday, May 12th. Canaccord Genuity Group lifted their price target on Hims & Hers Health from $32.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, July 1st. Barclays boosted their price target on Hims & Hers Health from $29.00 to $39.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 17th. UBS Group set a $23.00 price objective on Hims & Hers Health in a research note on Friday, May 22nd. Finally, Citigroup raised their price objective on Hims & Hers Health from $24.00 to $28.00 and gave the company a "neutral" rating in a research report on Tuesday, May 12th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Hims & Hers Health presently has an average rating of "Hold" and an average target price of $30.70.

Hims & Hers Health Price Performance

Shares of HIMS opened at $32.69 on Tuesday. The business has a 50-day simple moving average of $30.21 and a two-hundred day simple moving average of $26.34. The stock has a market cap of $7.57 billion, a PE ratio of -363.18, a PEG ratio of 92.42 and a beta of 2.35. Hims & Hers Health, Inc. has a 12-month low of $13.74 and a 12-month high of $70.43. The company has a quick ratio of 1.56, a current ratio of 1.69 and a debt-to-equity ratio of 2.18.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last posted 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 company had revenue of $608.10 million during the quarter, compared to the consensus estimate of $616.84 million. During the same period last year, the firm posted $0.20 earnings per share. The company's revenue for the quarter was up 3.8% on a year-over-year basis. Analysts anticipate that Hims & Hers Health, Inc. will post 0.03 earnings per share for the current fiscal year.

About Hims & Hers Health

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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