Bridgewater Associates LP Boosts Stake in Hims & Hers Health, Inc. (NYSE:HIMS)

Bridgewater Associates LP increased its position in Hims & Hers Health, Inc. (NYSE:HIMS) by 63.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 301,072 shares of the company’s stock after purchasing an additional 117,251 shares during the period. Bridgewater Associates LP owned 0.14% of Hims & Hers Health worth $5,546,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in HIMS. Price T Rowe Associates Inc. MD lifted its holdings in shares of Hims & Hers Health by 239.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 168,427 shares of the company’s stock valued at $2,606,000 after purchasing an additional 118,848 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Hims & Hers Health in the 1st quarter valued at about $638,000. Cetera Advisors LLC purchased a new stake in Hims & Hers Health during the 1st quarter valued at approximately $396,000. Gunderson Capital Management Inc. purchased a new stake in Hims & Hers Health during the 2nd quarter valued at approximately $1,836,000. Finally, QRG Capital Management Inc. purchased a new stake in Hims & Hers Health during the 2nd quarter valued at approximately $3,149,000. 63.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Hims & Hers Health news, insider Soleil Boughton sold 2,345 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $14.65, for a total transaction of $34,354.25. Following the sale, the insider now owns 159,796 shares in the company, valued at approximately $2,341,011.40. This represents a 1.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Oluyemi Okupe sold 269,739 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $20.31, for a total value of $5,478,399.09. Following the sale, the chief financial officer now owns 145,763 shares in the company, valued at approximately $2,960,446.53. This trade represents a 64.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,153,519 shares of company stock worth $24,486,721 in the last quarter. Company insiders own 17.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Piper Sandler reaffirmed a “neutral” rating and set a $21.00 price objective (up from $18.00) on shares of Hims & Hers Health in a research note on Tuesday, November 5th. Imperial Capital downgraded Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research note on Friday, August 9th. TD Cowen reaffirmed a “buy” rating and set a $28.00 price objective on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Canaccord Genuity Group upped their price objective on Hims & Hers Health from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Hims & Hers Health currently has a consensus rating of “Hold” and an average target price of $20.71.

Hims & Hers Health Price Performance

HIMS opened at $32.22 on Friday. The stock has a market cap of $7.04 billion, a P/E ratio of 73.23 and a beta of 1.06. The stock’s 50 day simple moving average is $22.01 and its 200 day simple moving average is $19.86. Hims & Hers Health, Inc. has a 1-year low of $8.09 and a 1-year high of $35.02.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings results on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.26. The business had revenue of $401.56 million for the quarter, compared to analysts’ expectations of $382.20 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The company’s revenue was up 77.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.04) EPS. Research analysts expect that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Hims & Hers Health Company Profile

Hims & Hers Health, Inc operates a telehealth platform that connects consumers to licensed healthcare professionals in the United States, the United Kingdom, and internationally. The company offers a range of curated prescription and non-prescription health and wellness products and services available to purchase on its websites and mobile application directly by customers.