Bank of New York Mellon Corp Increases Holdings in Hims & Hers Health, Inc. (NYSE:HIMS)

Bank of New York Mellon Corp grew its holdings in Hims & Hers Health, Inc. (NYSE:HIMS) by 1.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,260,292 shares of the company’s stock after buying an additional 15,339 shares during the quarter. Bank of New York Mellon Corp owned 0.57% of Hims & Hers Health worth $37,242,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in HIMS. Summit Securities Group LLC purchased a new stake in shares of Hims & Hers Health during the fourth quarter worth approximately $38,000. UMB Bank n.a. raised its position in Hims & Hers Health by 247.5% in the 1st quarter. UMB Bank n.a. now owns 1,310 shares of the company’s stock valued at $39,000 after purchasing an additional 933 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Hims & Hers Health by 165.4% in the 1st quarter. Fifth Third Bancorp now owns 1,542 shares of the company’s stock valued at $46,000 after acquiring an additional 961 shares during the last quarter. Tsfg LLC purchased a new position in shares of Hims & Hers Health in the 1st quarter valued at about $46,000. Finally, US Bancorp DE raised its position in Hims & Hers Health by 346.7% in the 4th quarter. US Bancorp DE now owns 1,943 shares of the company’s stock valued at $47,000 after purchasing an additional 1,508 shares during the last quarter. 63.52% of the stock is currently owned by hedge funds and other institutional investors.

Hims & Hers Health Stock Up 8.5%

NYSE:HIMS opened at $51.98 on Tuesday. Hims & Hers Health, Inc. has a 12-month low of $13.47 and a 12-month high of $72.98. The firm has a market capitalization of $11.63 billion, a P/E ratio of 75.33, a P/E/G ratio of 1.76 and a beta of 2.02. The stock’s fifty day simple moving average is $53.88 and its 200-day simple moving average is $41.31.

Hims & Hers Health (NYSE:HIMS) last posted its earnings results on Monday, May 5th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.08. Hims & Hers Health had a return on equity of 22.75% and a net margin of 9.24%. The firm had revenue of $586.01 million for the quarter, compared to analyst estimates of $535.21 million. During the same period in the previous year, the company posted $0.05 earnings per share. The company’s revenue for the quarter was up 110.7% on a year-over-year basis. As a group, equities research analysts expect that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Hims & Hers Health in a research note on Monday, June 23rd. TD Cowen downgraded Hims & Hers Health from a “buy” rating to a “hold” rating and cut their price objective for the stock from $44.00 to $30.00 in a report on Tuesday, April 29th. Wall Street Zen downgraded Hims & Hers Health from a “buy” rating to a “hold” rating in a report on Saturday. Piper Sandler reiterated a “neutral” rating and issued a $39.00 target price (up previously from $35.00) on shares of Hims & Hers Health in a research report on Tuesday, May 6th. Finally, UBS Group set a $30.00 target price on Hims & Hers Health in a research note on Monday, June 23rd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Hims & Hers Health presently has an average rating of “Hold” and a consensus price target of $39.58.

Insiders Place Their Bets

In other news, CFO Oluyemi Okupe sold 23,107 shares of the business’s stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $47.25, for a total transaction of $1,091,805.75. Following the completion of the sale, the chief financial officer owned 63,222 shares in the company, valued at $2,987,239.50. The trade was a 26.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael Chi sold 17,102 shares of the company’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $59.75, for a total value of $1,021,844.50. Following the sale, the insider owned 278,654 shares of the company’s stock, valued at $16,649,576.50. The trade was a 5.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 655,433 shares of company stock worth $34,064,594 in the last three months. 17.71% of the stock is owned by corporate insiders.

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.