OMERS ADMINISTRATION Corp Sells 16,600 Shares of Hims & Hers Health, Inc. $HIMS

by · The Cerbat Gem

OMERS ADMINISTRATION Corp reduced its stake in shares of Hims & Hers Health, Inc. (NYSE:HIMS – Free Report) by 34.5% in the second quarter, HoldingsChannel.com reports. The firm owned 31,500 shares of the company’s stock after selling 16,600 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Hims & Hers Health were worth $1,570,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Virtus Advisers LLC bought a new stake in Hims & Hers Health in the 2nd quarter valued at about $26,000. New York State Common Retirement Fund increased its holdings in Hims & Hers Health by 2.0% during the 2nd quarter. New York State Common Retirement Fund now owns 59,945 shares of the company’s stock worth $2,988,000 after acquiring an additional 1,200 shares during the period. Schroder Investment Management Group increased its holdings in Hims & Hers Health by 42.4% during the 2nd quarter. Schroder Investment Management Group now owns 412,584 shares of the company’s stock worth $20,567,000 after acquiring an additional 122,928 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its stake in Hims & Hers Health by 408.2% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 747 shares of the company’s stock worth $37,000 after purchasing an additional 600 shares in the last quarter. Finally, Norges Bank bought a new position in Hims & Hers Health in the 2nd quarter valued at $78,464,000. 63.52% of the stock is currently owned by institutional investors.

Hims & Hers Health Stock Down 3.2%

Shares of NYSE HIMS opened at $36.32 on Wednesday. The stock has a market capitalization of $8.27 billion, a P/E ratio of 67.26, a PEG ratio of 7.47 and a beta of 2.41. Hims & Hers Health, Inc. has a one year low of $23.97 and a one year high of $72.98. The firm’s 50 day simple moving average is $46.76 and its two-hundred day simple moving average is $50.14. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.88 and a quick ratio of 1.64.

Hims & Hers Health (NYSE:HIMS – Get Free Report) last released its earnings results on Monday, November 3rd. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). The business had revenue of $598.98 million for the quarter, compared to the consensus estimate of $578.99 million. Hims & Hers Health had a net margin of 6.05% and a return on equity of 24.67%. Hims & Hers Health’s revenue for the quarter was up 49.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 EPS. As a group, 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 outstanding shares. This repurchase authorization permits the company to repurchase up to 3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, CFO Oluyemi Okupe sold 145,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $55.35, for a total transaction of $8,025,750.00. Following the transaction, the chief financial officer directly owned 128,984 shares in the company, valued at $7,139,264.40. This trade represents a 52.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Chi sold 13,749 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $50.50, for a total value of $694,324.50. Following the completion of the sale, the insider owned 297,139 shares of the company’s stock, valued at $15,005,519.50. The trade was a 4.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 616,431 shares of company stock valued at $32,924,482. 17.71% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on HIMS. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hims & Hers Health in a report on Monday. Wall Street Zen lowered Hims & Hers Health from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Canaccord Genuity Group reissued a “buy” rating and set a $68.00 price objective on shares of Hims & Hers Health in a report on Friday, September 12th. BTIG Research restated a “buy” rating and issued a $85.00 price objective on shares of Hims & Hers Health in a research report on Tuesday, November 4th. Finally, Zacks Research lowered shares of Hims & Hers Health from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 19th. Two research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $45.27.

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About Hims & Hers Health

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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.

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