Bank of New York Mellon Corp Cuts Stake in Hims & Hers Health, Inc. $HIMS

Bank of New York Mellon Corp cut its holdings in Hims & Hers Health, Inc. (NYSE:HIMS) by 2.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,340,446 shares of the company’s stock after selling 39,911 shares during the period. Bank of New York Mellon Corp owned 0.59% of Hims & Hers Health worth $27,828,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Hims & Hers Health by 7.2% in the fourth quarter. Vanguard Group Inc. now owns 20,925,666 shares of the company’s stock worth $679,456,000 after purchasing an additional 1,407,651 shares during the last quarter. Munich Reinsurance Co Stock Corp in Munich bought a new position in Hims & Hers Health during the fourth quarter valued at approximately $11,187,000. Cunning Capital Partners LP purchased a new position in Hims & Hers Health during the 4th quarter valued at approximately $1,110,000. Virtu Financial LLC bought a new stake in Hims & Hers Health in the 4th quarter worth approximately $1,937,000. Finally, Clear Street Group Inc. increased its stake in Hims & Hers Health by 23.6% in the 4th quarter. Clear Street Group Inc. now owns 1,904,294 shares of the company’s stock worth $61,832,000 after acquiring an additional 363,893 shares during the last quarter. 63.52% of the stock is currently owned by institutional investors.

Insider Transactions at Hims & Hers Health

In other news, COO Michael Chi sold 14,027 shares of Hims & Hers Health stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $31.50, for a total transaction of $441,850.50. Following the completion of the sale, the chief operating officer directly owned 432,124 shares in the company, valued at approximately $13,611,906. This trade represents a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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, insider Patrick Harrison Carroll sold 23,726 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $35.00, for a total transaction of $830,410.00. Following the sale, the insider directly owned 181,861 shares of the company’s stock, valued at $6,365,135. This represents a 11.54% decrease in their ownership of the stock. 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. In the last 90 days, insiders sold 83,126 shares of company stock valued at $2,711,339. Company insiders own 11.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Jefferies Financial Group set a $24.50 target price on Hims & Hers Health in a research report on Tuesday, May 12th. Citigroup boosted their price target on shares of Hims & Hers Health from $28.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday. Truist Financial upped their price target on shares of Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $25.00 price objective on shares of Hims & Hers Health in a research report on Tuesday, May 5th. Finally, Barclays boosted their target price on shares of Hims & Hers Health from $29.00 to $39.00 and gave the stock an “overweight” rating in a report on Wednesday, June 17th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Hims & Hers Health currently has a consensus rating of “Hold” and an average target price of $31.43.

Hims & Hers Health Stock Up 7.6%

NYSE HIMS opened at $30.23 on Tuesday. The company has a quick ratio of 1.56, a current ratio of 1.69 and a debt-to-equity ratio of 2.18. The company has a fifty day moving average of $30.91 and a two-hundred day moving average of $26.25. The firm has a market capitalization of $7.00 billion, a price-to-earnings ratio of -335.84, a PEG ratio of 79.05 and a beta of 2.35. Hims & Hers Health, Inc. has a 52 week low of $13.74 and a 52 week high of $70.43.

Hims & Hers Health (NYSE:HIMS) last announced its 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). The firm had revenue of $608.10 million during the quarter, compared to analysts’ expectations of $616.84 million. Hims & Hers Health had a negative net margin of 0.56% and a positive return on equity of 6.10%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.20 EPS. On average, analysts predict that Hims & Hers Health, Inc. will post 0.03 earnings per share for the current 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.