Principal Financial Group Inc. Purchases 146,621 Shares of Hims & Hers Health, Inc. (NYSE:HIMS)

Principal Financial Group Inc. increased its holdings in shares of Hims & Hers Health, Inc. (NYSE:HIMS - Free Report) by 102.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 290,414 shares of the company's stock after purchasing an additional 146,621 shares during the quarter. Principal Financial Group Inc. owned approximately 0.13% of Hims & Hers Health worth $5,349,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Renaissance Technologies LLC increased its holdings in shares of Hims & Hers Health by 113.1% during the 2nd quarter. Renaissance Technologies LLC now owns 6,039,408 shares of the company's stock worth $121,936,000 after acquiring an additional 3,205,108 shares during the last quarter. Wellington Management Group LLP raised its stake in Hims & Hers Health by 34.5% in the third quarter. Wellington Management Group LLP now owns 3,444,414 shares of the company's stock valued at $63,446,000 after purchasing an additional 883,230 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Hims & Hers Health by 12.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company's stock worth $79,029,000 after acquiring an additional 482,177 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Hims & Hers Health by 164.1% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 528,142 shares of the company's stock valued at $10,663,000 after purchasing an additional 328,142 shares in the last quarter. Finally, Carnegie Investment Counsel acquired a new stake in Hims & Hers Health in the third quarter valued at about $5,531,000. Institutional investors own 63.52% of the company's stock.

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Hims & Hers Health Stock Performance

NYSE HIMS traded up $1.02 on Thursday, hitting $25.20. The stock had a trading volume of 9,563,690 shares, compared to its average volume of 10,046,257. Hims & Hers Health, Inc. has a 52-week low of $8.09 and a 52-week high of $35.02. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of 57.27 and a beta of 1.25. The firm has a 50-day moving average of $26.48 and a 200-day moving average of $21.50.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.26. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The company had revenue of $401.56 million during the quarter, compared to the consensus estimate of $382.20 million. During the same quarter in the previous year, the company posted ($0.04) EPS. Hims & Hers Health's quarterly revenue was up 77.1% compared to the same quarter last year. As a group, research analysts anticipate that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Melissa Baird sold 58,750 shares of Hims & Hers Health stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $19.57, for a total value of $1,149,737.50. Following the completion of the sale, the chief operating officer now directly owns 630,166 shares in the company, valued at approximately $12,332,348.62. This trade represents a 8.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Oluyemi Okupe sold 269,739 shares of the firm's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $20.31, for a total value of $5,478,399.09. Following the completion of the transaction, the chief financial officer now owns 145,763 shares in the company, valued at approximately $2,960,446.53. This trade represents a 64.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,133,132 shares of company stock valued at $28,059,037. Corporate insiders own 17.71% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on HIMS shares. Deutsche Bank Aktiengesellschaft raised their price objective on Hims & Hers Health from $23.00 to $27.00 and gave the company a "hold" rating in a report on Wednesday, November 6th. TD Cowen restated a "buy" rating and issued a $28.00 target price on shares of Hims & Hers Health in a report on Wednesday, November 20th. Morgan Stanley initiated coverage on Hims & Hers Health in a report on Tuesday, December 17th. They set an "overweight" rating and a $42.00 price target on the stock. Canaccord Genuity Group raised their target price on Hims & Hers Health from $28.00 to $38.00 and gave the company a "buy" rating in a research note on Monday, December 2nd. Finally, Piper Sandler restated a "neutral" rating and set a $21.00 price target (up previously from $18.00) on shares of Hims & Hers Health in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $22.80.

Hims & Hers Health Company Profile

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.