Royce & Associates LP Cuts Position in Hims & Hers Health, Inc. (NYSE:HIMS)

Royce & Associates LP decreased its position in Hims & Hers Health, Inc. (NYSE:HIMS) by 55.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 153,000 shares of the company’s stock after selling 188,000 shares during the quarter. Royce & Associates LP owned 0.07% of Hims & Hers Health worth $3,700,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Yong Rong HK Asset Management Ltd acquired a new position in shares of Hims & Hers Health in the fourth quarter worth $41,104,000. Principal Financial Group Inc. grew its stake in shares of Hims & Hers Health by 370.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,365,769 shares of the company’s stock worth $33,024,000 after acquiring an additional 1,075,355 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Hims & Hers Health by 34.5% in the third quarter. Wellington Management Group LLP now owns 3,444,414 shares of the company’s stock worth $63,446,000 after acquiring an additional 883,230 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Hims & Hers Health in the fourth quarter worth $18,048,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Hims & Hers Health by 128.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,244,953 shares of the company’s stock worth $30,103,000 after acquiring an additional 700,500 shares in the last quarter. Hedge funds and other institutional investors own 63.52% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on HIMS. TD Cowen restated a “buy” rating and issued a $28.00 price target on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Bank of America boosted their target price on shares of Hims & Hers Health from $21.00 to $22.00 and gave the stock an “underperform” rating in a research note on Tuesday. Canaccord Genuity Group boosted their target price on shares of Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Piper Sandler boosted their target price on shares of Hims & Hers Health from $24.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 25th. Finally, Morgan Stanley downgraded shares of Hims & Hers Health from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $42.00 to $60.00 in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $37.31.

Insider Activity

In related news, CEO Andrew Dudum sold 128,127 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $33.98, for a total transaction of $4,353,755.46. Following the completion of the transaction, the chief executive officer now directly owns 173,655 shares of the company’s stock, valued at $5,900,796.90. This represents a 42.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Oluyemi Okupe sold 18,959 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $25.77, for a total transaction of $488,573.43. Following the transaction, the chief financial officer now directly owns 132,578 shares of the company’s stock, valued at $3,416,535.06. This represents a 12.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,034,506 shares of company stock valued at $36,635,024. Insiders own 17.71% of the company’s stock.

Hims & Hers Health Price Performance

Shares of HIMS opened at $33.85 on Thursday. Hims & Hers Health, Inc. has a 1-year low of $11.20 and a 1-year high of $72.98. The stock has a market cap of $7.52 billion, a PE ratio of 76.94 and a beta of 1.37. The firm has a fifty day moving average price of $38.88 and a 200 day moving average price of $28.52.

Hims & Hers Health (NYSE:HIMS) last announced its earnings results on Monday, February 24th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The business had revenue of $481.14 million during the quarter, compared to analysts’ expectations of $494.56 million. As a group, equities analysts expect that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal 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.