Arrowstreet Capital Limited Partnership Sells 1,402,250 Shares of Hims & Hers Health, Inc. $HIMS

Arrowstreet Capital Limited Partnership lessened its position in shares of Hims & Hers Health, Inc. (NYSE:HIMS) by 71.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 568,970 shares of the company’s stock after selling 1,402,250 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Hims & Hers Health were worth $28,363,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in Hims & Hers Health by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 4,746,081 shares of the company’s stock worth $236,622,000 after purchasing an additional 71,593 shares during the last quarter. Northern Trust Corp grew its position in shares of Hims & Hers Health by 19.5% during the 1st quarter. Northern Trust Corp now owns 2,435,512 shares of the company’s stock worth $71,969,000 after buying an additional 397,310 shares during the period. Nuveen LLC bought a new stake in shares of Hims & Hers Health during the first quarter worth approximately $58,403,000. Norges Bank acquired a new position in Hims & Hers Health in the second quarter valued at approximately $78,464,000. Finally, State of Michigan Retirement System boosted its stake in Hims & Hers Health by 84.9% in the second quarter. State of Michigan Retirement System now owns 1,379,100 shares of the company’s stock valued at $68,748,000 after acquiring an additional 633,300 shares during the last quarter. Institutional investors own 63.52% of the company’s stock.

Insider Activity at Hims & Hers Health

In other news, CFO Oluyemi Okupe sold 145,000 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $55.35, for a total value of $8,025,750.00. Following the completion of the sale, the chief financial officer owned 128,984 shares of the company’s stock, valued at approximately $7,139,264.40. This represents a 52.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael Chi sold 13,749 shares of the firm’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $50.50, for a total transaction of $694,324.50. Following the completion of the transaction, the insider directly owned 297,139 shares of the company’s stock, valued at $15,005,519.50. This represents a 4.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 616,431 shares of company stock valued at $32,924,482. Insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wall Street Zen cut shares of Hims & Hers Health from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Leerink Partnrs upgraded Hims & Hers Health from a “hold” rating to a “strong-buy” rating in a report on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of Hims & Hers Health in a report on Monday, December 1st. Truist Financial decreased their target price on Hims & Hers Health from $48.00 to $37.00 and set a “hold” rating for the company in a research report on Monday, August 18th. Finally, Bank of America increased their price target on shares of Hims & Hers Health from $28.00 to $32.00 and gave the company an “underperform” rating in a research report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $45.27.

Hims & Hers Health Trading Down 1.9%

NYSE HIMS opened at $39.27 on Friday. Hims & Hers Health, Inc. has a 52 week low of $23.97 and a 52 week high of $72.98. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.64 and a current ratio of 1.88. The stock’s 50 day moving average price is $45.76 and its two-hundred day moving average price is $49.74. The stock has a market capitalization of $8.94 billion, a price-to-earnings ratio of 72.72, a PEG ratio of 7.75 and a beta of 2.41.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). Hims & Hers Health had a return on equity of 24.67% and a net margin of 6.05%.The business had revenue of $598.98 million for the quarter, compared to the consensus estimate of $578.99 million. During the same period last year, the firm earned $0.32 earnings per share. The company’s quarterly revenue was up 49.2% compared to the same quarter last year. As a group, analysts anticipate that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Hims & Hers Health announced that its Board of Directors has approved a share repurchase plan on Monday, November 17th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to buy up to 3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Hims & Hers Health Company Profile

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.