Steadview Capital Management LLC Takes $19.44 Million Position in Hims & Hers Health, Inc. $HIMS

Steadview Capital Management LLC purchased a new position in shares of Hims & Hers Health, Inc. (NYSE:HIMS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 390,000 shares of the company’s stock, valued at approximately $19,442,000. Hims & Hers Health accounts for 2.8% of Steadview Capital Management LLC’s investment portfolio, making the stock its 9th largest holding.

A number of other institutional investors also recently bought and sold shares of HIMS. Renaissance Group LLC boosted its stake in shares of Hims & Hers Health by 99.0% during the second quarter. Renaissance Group LLC now owns 176,384 shares of the company’s stock worth $8,793,000 after buying an additional 87,755 shares during the period. Wealthspire Advisors LLC purchased a new stake in Hims & Hers Health during the 2nd quarter valued at approximately $214,000. Generali Investments Management Co LLC acquired a new stake in Hims & Hers Health during the 2nd quarter worth approximately $125,000. Rockefeller Capital Management L.P. grew its stake in shares of Hims & Hers Health by 14.8% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 31,733 shares of the company’s stock valued at $1,582,000 after purchasing an additional 4,080 shares during the last quarter. Finally, Cetera Investment Advisers grew its position in Hims & Hers Health by 94.9% in the 2nd quarter. Cetera Investment Advisers now owns 58,888 shares of the company’s stock valued at $2,936,000 after buying an additional 28,672 shares during the last quarter. 63.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HIMS has been the subject of several recent analyst reports. Wall Street Zen cut shares of Hims & Hers Health from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Bank of America lifted their price objective on Hims & Hers Health from $28.00 to $32.00 and gave the stock an “underperform” rating in a report on Tuesday, November 4th. BTIG Research reiterated a “buy” rating and issued a $85.00 price target on shares of Hims & Hers Health in a research report on Tuesday, November 4th. Canaccord Genuity Group reissued a “buy” rating and set a $68.00 price objective on shares of Hims & Hers Health in a research note on Friday, September 12th. Finally, Truist Financial decreased their price target on shares of Hims & Hers Health from $48.00 to $37.00 and set a “hold” rating on the stock in a report on Monday, August 18th. Two equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Hims & Hers Health has a consensus rating of “Reduce” and a consensus target price of $45.27.

Hims & Hers Health Trading Up 2.2%

HIMS opened at $36.36 on Wednesday. Hims & Hers Health, Inc. has a 52-week low of $20.02 and a 52-week high of $72.98. The company has a quick ratio of 1.64, a current ratio of 1.88 and a debt-to-equity ratio of 1.67. The firm has a market capitalization of $8.28 billion, a P/E ratio of 67.33, a P/E/G ratio of 7.08 and a beta of 2.20. The firm’s 50 day moving average is $50.12 and its 200-day moving average is $51.42.

Hims & Hers Health (NYSE:HIMS) last announced its earnings results on Monday, November 3rd. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). Hims & Hers Health had a net margin of 6.05% and a return on equity of 24.67%. The business had revenue of $598.98 million for the quarter, compared to analyst estimates of $578.99 million. During the same quarter in the prior year, the business earned $0.32 earnings per share. The firm’s revenue was up 49.2% on a year-over-year basis. Hims & Hers Health has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Analysts expect that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Hims & Hers Health declared that its Board of Directors has approved a stock repurchase program 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 programs are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Hims & Hers Health

In other news, insider Michael Chi sold 13,749 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was 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 in the company, valued at approximately $15,005,519.50. This represents a 4.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Oluyemi Okupe sold 145,000 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $55.35, for a total transaction of $8,025,750.00. Following the transaction, the chief financial officer owned 128,984 shares in the company, valued at $7,139,264.40. This trade represents a 52.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 584,209 shares of company stock valued at $31,837,916 in the last three months. Corporate insiders own 17.71% of the company’s stock.

About Hims & Hers Health

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.