Convergence Investment Partners LLC Buys New Position in Hims & Hers Health, Inc. (NYSE:HIMS)

Convergence Investment Partners LLC acquired a new stake in Hims & Hers Health, Inc. (NYSE:HIMS - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,762 shares of the company's stock, valued at approximately $381,000.

A number of other hedge funds have also modified their holdings of HIMS. Main Management ETF Advisors LLC acquired a new stake in Hims & Hers Health in the 3rd quarter valued at approximately $672,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Hims & Hers Health in the third quarter valued at $604,000. Royce & Associates LP raised its holdings in shares of Hims & Hers Health by 17.0% in the 3rd quarter. Royce & Associates LP now owns 341,000 shares of the company's stock valued at $6,281,000 after buying an additional 49,500 shares during the period. Versor Investments LP acquired a new position in Hims & Hers Health during the 3rd quarter worth about $634,000. Finally, International Assets Investment Management LLC acquired a new position in Hims & Hers Health during the 3rd quarter worth about $6,790,000. 63.52% of the stock is currently owned by hedge funds and other institutional investors.

Hims & Hers Health Price Performance

Shares of NYSE HIMS traded down $15.89 during trading on Friday, hitting $50.52. 78,691,612 shares of the company were exchanged, compared to its average volume of 17,641,838. Hims & Hers Health, Inc. has a 1 year low of $9.25 and a 1 year high of $72.98. The company has a market cap of $11.04 billion, a price-to-earnings ratio of 115.22 and a beta of 1.35. The firm's fifty day moving average price is $34.66 and its 200 day moving average price is $25.48.

Wall Street Analyst Weigh In

HIMS has been the subject of several research reports. Piper Sandler lifted their target price on Hims & Hers Health from $21.00 to $24.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. Morgan Stanley cut shares of Hims & Hers Health from an "overweight" rating to an "equal weight" rating and lifted their price objective for the company from $42.00 to $60.00 in a report on Tuesday. TD Cowen reiterated a "buy" rating and set a $28.00 target price on shares of Hims & Hers Health in a report on Wednesday, November 20th. Bank of America boosted their price target on shares of Hims & Hers Health from $18.00 to $21.00 and gave the stock an "underperform" rating in a research note on Thursday. Finally, Citigroup lowered Hims & Hers Health from a "neutral" rating to a "sell" rating and upped their price objective for the stock from $24.00 to $25.00 in a research report on Friday, January 10th. Two investment analysts have 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. According to MarketBeat.com, Hims & Hers Health has a consensus rating of "Hold" and a consensus price target of $28.53.

Insider Activity at Hims & Hers Health

In other Hims & Hers Health news, insider Soleil Boughton sold 2,343 shares of the business's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $29.90, for a total value of $70,055.70. Following the completion of the transaction, the insider now directly owns 165,254 shares in the company, valued at approximately $4,941,094.60. The trade was a 1.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Chi sold 2,054 shares of Hims & Hers Health stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $33.56, for a total value of $68,932.24. Following the completion of the sale, the insider now directly owns 184,947 shares of the company's stock, valued at approximately $6,206,821.32. This represents a 1.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,184,611 shares of company stock worth $40,338,442 over the last 90 days. Company insiders own 17.71% of the company's stock.

Hims & Hers Health Company 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.