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

Bank of New York Mellon Corp decreased its position in shares of Hims & Hers Health, Inc. (NYSE:HIMS) by 2.9% during the first quarter, according to its most recent 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 quarter. Bank of New York Mellon Corp’s holdings in Hims & Hers Health were worth $27,828,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in HIMS. Binnacle Investments Inc purchased a new position in Hims & Hers Health during the 3rd quarter valued at about $28,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Hims & Hers Health in the 4th quarter worth approximately $28,000. Bogart Wealth LLC lifted its position in shares of Hims & Hers Health by 235.8% in the 4th quarter. Bogart Wealth LLC now owns 900 shares of the company’s stock worth $29,000 after purchasing an additional 632 shares during the period. Geneos Wealth Management Inc. bought a new position in shares of Hims & Hers Health during the first quarter valued at approximately $30,000. Finally, Greenline Wealth Management LLC bought a new position in shares of Hims & Hers Health during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 63.52% of the company’s stock.

Analyst Ratings Changes

HIMS has been the topic of several research reports. Canaccord Genuity Group lifted their price objective on shares of Hims & Hers Health from $32.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Needham & Company LLC increased their target price on Hims & Hers Health from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Jefferies Financial Group set a $24.50 price target on Hims & Hers Health in a report on Tuesday, May 12th. JPMorgan Chase & Co. reduced their price target on Hims & Hers Health from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, May 12th. Finally, Citigroup upped their price objective on Hims & Hers Health from $28.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Hims & Hers Health presently has a consensus rating of “Hold” and an average target price of $31.43.

Hims & Hers Health Trading Up 7.6%

NYSE HIMS opened at $30.23 on Tuesday. The firm has a market cap of $7.00 billion, a PE ratio of -335.84, a price-to-earnings-growth 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. 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 50 day moving average price of $30.91 and a 200 day moving average price of $26.25.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.44). The business had revenue of $608.10 million for the quarter, compared to analyst estimates of $616.84 million. Hims & Hers Health had a positive return on equity of 6.10% and a negative net margin of 0.56%.The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.20 earnings per share. As a group, sell-side analysts forecast that Hims & Hers Health, Inc. will post 0.03 EPS for the current fiscal year.

Insider Activity

In other news, insider Irene Becklund sold 7,573 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $30.25, for a total value of $229,083.25. Following the sale, the insider owned 11,280 shares in the company, valued at $341,220. This represents a 40.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $31.50, for a total value of $441,850.50. Following the completion of the transaction, the chief operating officer directly owned 432,124 shares of the company’s stock, valued at $13,611,906. The trade was a 3.14% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 83,126 shares of company stock worth $2,711,339 over the last quarter. Company insiders own 11.76% of the company’s stock.

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.