Hims & Hers Health, Inc. (NYSE:HIMS) Position Increased by Yong Rong HK Asset Management Ltd

Yong Rong HK Asset Management Ltd grew its stake in Hims & Hers Health, Inc. (NYSE:HIMS) by 41.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,400,000 shares of the company’s stock after buying an additional 700,100 shares during the period. Hims & Hers Health accounts for 16.5% of Yong Rong HK Asset Management Ltd’s holdings, making the stock its 2nd biggest position. Yong Rong HK Asset Management Ltd’s holdings in Hims & Hers Health were worth $70,920,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Bank of New York Mellon Corp raised 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 purchasing an additional 700,500 shares during the last quarter. Mutual of America Capital Management LLC acquired a new position in Hims & Hers Health in the 4th quarter worth approximately $700,000. US Bancorp DE raised its position in Hims & Hers Health by 346.7% during the 4th quarter. US Bancorp DE now owns 1,943 shares of the company’s stock worth $47,000 after buying an additional 1,508 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Hims & Hers Health by 4,415.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,445 shares of the company’s stock worth $36,000 after buying an additional 1,413 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its stake in Hims & Hers Health by 9.5% during the 4th quarter. Jones Financial Companies Lllp now owns 17,414 shares of the company’s stock valued at $421,000 after acquiring an additional 1,514 shares during the period. Hedge funds and other institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Stock Up 1.0%

NYSE:HIMS opened at $47.92 on Monday. Hims & Hers Health, Inc. has a 52 week low of $13.47 and a 52 week high of $72.98. The stock’s 50-day moving average price is $52.23 and its 200-day moving average price is $40.38. The stock has a market capitalization of $10.72 billion, a PE ratio of 69.44, a price-to-earnings-growth ratio of 1.76 and a beta of 2.02.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.12 by $0.08. The company had revenue of $586.01 million for the quarter, compared to analyst estimates of $535.21 million. Hims & Hers Health had a return on equity of 22.75% and a net margin of 9.24%. Hims & Hers Health’s quarterly revenue was up 110.7% compared to the same quarter last year. During the same period last year, the company earned $0.05 earnings per share. Sell-side analysts expect that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Andrew Dudum sold 128,127 shares of the business’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $58.40, for a total value of $7,482,616.80. Following the completion of the sale, the chief executive officer owned 89,311 shares of the company’s stock, valued at approximately $5,215,762.40. The trade was a 58.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Melissa Baird sold 33,337 shares of the company’s stock in a transaction on Wednesday, April 9th. The stock was sold at an average price of $27.32, for a total transaction of $910,766.84. Following the transaction, the chief operating officer owned 805,083 shares of the company’s stock, valued at $21,994,867.56. This represents a 3.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 692,006 shares of company stock worth $34,857,872 in the last quarter. Corporate insiders own 17.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on HIMS shares. Morgan Stanley reiterated an “equal weight” rating and issued a $40.00 price objective on shares of Hims & Hers Health in a research note on Wednesday, June 11th. Needham & Company LLC restated a “hold” rating on shares of Hims & Hers Health in a research report on Monday, June 23rd. Bank of America upped their price target on shares of Hims & Hers Health from $22.00 to $26.00 and gave the company an “underperform” rating in a report on Tuesday, April 29th. Citigroup reiterated a “sell” rating on shares of Hims & Hers Health in a research note on Monday, June 23rd. Finally, UBS Group set a $30.00 price objective on Hims & Hers Health in a report on Monday, June 23rd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $39.58.

Hims & Hers Health 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.