Geode Capital Management LLC Boosts Position in Hims & Hers Health, Inc. (NYSE:HIMS)

Geode Capital Management LLC boosted its position in Hims & Hers Health, Inc. (NYSE:HIMS - Free Report) by 12.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,289,549 shares of the company's stock after buying an additional 482,177 shares during the quarter. Geode Capital Management LLC owned approximately 2.00% of Hims & Hers Health worth $79,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in HIMS. Main Management ETF Advisors LLC bought a new position in shares of Hims & Hers Health during the 3rd quarter worth $672,000. Robeco Institutional Asset Management B.V. bought a new position in Hims & Hers Health during the third quarter worth about $604,000. Carnegie Investment Counsel bought a new position in Hims & Hers Health during the third quarter worth about $5,531,000. Royce & Associates LP increased its stake in shares of Hims & Hers Health by 17.0% in the third quarter. Royce & Associates LP now owns 341,000 shares of the company's stock worth $6,281,000 after purchasing an additional 49,500 shares in the last quarter. Finally, Versor Investments LP bought a new stake in shares of Hims & Hers Health in the third quarter valued at approximately $634,000. 63.52% of the stock is currently owned by institutional investors.

Hims & Hers Health Stock Performance

HIMS traded down $0.16 during trading on Friday, reaching $26.20. The stock had a trading volume of 17,248,361 shares, compared to its average volume of 10,078,416. The business has a 50-day moving average of $25.78 and a 200-day moving average of $21.27. Hims & Hers Health, Inc. has a one year low of $8.09 and a one year high of $35.02. The stock has a market cap of $5.72 billion, a PE ratio of 59.55 and a beta of 1.25.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.06 by $0.26. The firm had revenue of $401.56 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company earned ($0.04) EPS. Equities research analysts forecast that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HIMS. Canaccord Genuity Group raised their price objective on shares of Hims & Hers Health from $28.00 to $38.00 and gave the stock a "buy" rating in a report on Monday, December 2nd. TD Cowen reiterated a "buy" rating and set a $28.00 price objective on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Morgan Stanley initiated coverage on Hims & Hers Health in a research note on Tuesday. They issued an "overweight" rating and a $42.00 target price for the company. Piper Sandler reiterated a "neutral" rating and set a $21.00 price target (up from $18.00) on shares of Hims & Hers Health in a research report on Tuesday, November 5th. Finally, Bank of America downgraded shares of Hims & Hers Health from a "buy" rating to an "underperform" rating and lowered their price target for the stock from $32.00 to $18.00 in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, Hims & Hers Health presently has a consensus rating of "Hold" and a consensus target price of $22.80.

Insider Activity

In other Hims & Hers Health news, insider Michael Chi sold 2,054 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The stock was 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 owns 184,947 shares in the company, valued at approximately $6,206,821.32. The trade was a 1.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Soleil Boughton sold 2,339 shares of the firm's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $20.41, for a total transaction of $47,738.99. Following the completion of the transaction, the insider now owns 172,274 shares in the company, valued at $3,516,112.34. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,085,157 shares of company stock valued at $26,765,193. Corporate insiders own 17.71% of the company's stock.

About Hims & Hers Health

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.