Southpoint Capital Advisors LP Takes $10.38 Million Position in Hims & Hers Health, Inc. $HIMS

Southpoint Capital Advisors LP bought a new position in Hims & Hers Health, Inc. (NYSE:HIMS) in the first quarter, HoldingsChannel reports. The fund bought 500,000 shares of the company’s stock, valued at approximately $10,380,000.

A number of other large investors have also recently made changes to their positions in the stock. Flagship Harbor Advisors LLC purchased a new position in shares of Hims & Hers Health during the fourth quarter valued at approximately $28,000. Binnacle Investments Inc purchased a new stake in Hims & Hers Health in the third quarter worth approximately $28,000. Bogart Wealth LLC boosted its holdings in Hims & Hers Health by 235.8% in the fourth quarter. Bogart Wealth LLC now owns 900 shares of the company’s stock worth $29,000 after purchasing an additional 632 shares during the last quarter. Geneos Wealth Management Inc. bought a new stake in Hims & Hers Health in the 1st quarter worth approximately $30,000. Finally, Greenline Wealth Management LLC bought a new stake in Hims & Hers Health in the 4th quarter worth approximately $36,000. 63.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

HIMS has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $25.00 target price on shares of Hims & Hers Health in a research note on Tuesday, May 5th. Truist Financial upped their price objective on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Friday. Bank of America increased their target price on Hims & Hers Health from $36.00 to $37.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Canaccord Genuity Group raised their target price on Hims & Hers Health from $32.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Finally, Needham & Company LLC boosted their price target on Hims & Hers Health from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $31.43.

Hims & Hers Health Trading Up 7.6%

Shares of Hims & Hers Health stock opened at $30.23 on Tuesday. Hims & Hers Health, Inc. has a fifty-two week low of $13.74 and a fifty-two week high of $70.43. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.56 and a current ratio of 1.69. The company has a market capitalization of $7.00 billion, a P/E ratio of -335.84, a P/E/G ratio of 79.05 and a beta of 2.35. The company has a fifty day moving average of $30.91 and a 200 day moving average of $26.25.

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

Insider Activity

In related news, insider Irene Becklund sold 4,490 shares of Hims & Hers Health stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $31.50, for a total transaction of $141,435.00. Following the sale, the insider owned 6,790 shares of the company’s stock, valued at approximately $213,885. This trade represents a 39.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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, insider Patrick Harrison Carroll sold 23,726 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $35.00, for a total value of $830,410.00. Following the completion of the transaction, the insider directly owned 181,861 shares in the company, valued at approximately $6,365,135. This represents a 11.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 83,126 shares of company stock valued at $2,711,339 in the last three months. 11.76% of the stock is currently owned by insiders.

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.