Wellington Management Group LLP Buys 883,230 Shares of Hims & Hers Health, Inc. (NYSE:HIMS)

Wellington Management Group LLP boosted its position in shares of Hims & Hers Health, Inc. (NYSE:HIMS - Free Report) by 34.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,444,414 shares of the company's stock after buying an additional 883,230 shares during the quarter. Wellington Management Group LLP owned approximately 1.60% of Hims & Hers Health worth $63,446,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its stake in shares of Hims & Hers Health by 679.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company's stock worth $37,000 after acquiring an additional 1,603 shares in the last quarter. Quest Partners LLC boosted its position in shares of Hims & Hers Health by 5,944.1% in the 2nd quarter. Quest Partners LLC now owns 3,566 shares of the company's stock worth $72,000 after purchasing an additional 3,507 shares in the last quarter. Van ECK Associates Corp purchased a new stake in shares of Hims & Hers Health in the 2nd quarter worth approximately $111,000. CWM LLC grew its stake in shares of Hims & Hers Health by 21.4% in the 3rd quarter. CWM LLC now owns 5,982 shares of the company's stock worth $110,000 after buying an additional 1,054 shares during the last quarter. Finally, Quarry LP increased its position in Hims & Hers Health by 91.0% during the 3rd quarter. Quarry LP now owns 6,113 shares of the company's stock valued at $113,000 after buying an additional 2,913 shares in the last quarter. Hedge funds and other institutional investors own 63.52% of the company's stock.

Insider Buying and Selling

In other news, insider Michael Chi sold 2,054 shares of the firm's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $33.56, for a total transaction of $68,932.24. Following the completion of the transaction, the insider now owns 184,947 shares in the company, valued at $6,206,821.32. This trade represents a 1.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Andrew Dudum sold 33,513 shares of the business's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $33.38, for a total value of $1,118,663.94. Following the completion of the sale, the chief executive officer now owns 33,502 shares in the company, valued at $1,118,296.76. This represents a 50.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 974,495 shares of company stock valued at $22,548,139. Corporate insiders own 17.71% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HIMS. Canaccord Genuity Group increased their target price on Hims & Hers Health from $28.00 to $38.00 and gave the stock a "buy" rating in a research note on Monday, December 2nd. TD Cowen reiterated a "buy" rating and issued a $28.00 target price on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Piper Sandler reiterated a "neutral" rating and set a $21.00 price target (up previously from $18.00) on shares of Hims & Hers Health in a report on Tuesday, November 5th. Needham & Company LLC began coverage on shares of Hims & Hers Health in a report on Thursday, August 22nd. They issued a "buy" rating and a $24.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Hims & Hers Health from $23.00 to $27.00 and gave the company a "hold" rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $21.43.

Hims & Hers Health Stock Down 2.2 %

NYSE:HIMS traded down $0.68 during trading hours on Wednesday, hitting $30.19. 13,105,703 shares of the stock traded hands, compared to its average volume of 9,943,364. The company has a market cap of $6.60 billion, a price-to-earnings ratio of 70.10 and a beta of 1.25. Hims & Hers Health, Inc. has a 1 year low of $8.09 and a 1 year high of $35.02. The stock has a 50 day moving average price of $24.05 and a 200 day moving average price of $20.73.

Hims & Hers Health (NYSE:HIMS - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.32 earnings per share (EPS) 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 business had revenue of $401.56 million during the quarter, compared to analyst estimates of $382.20 million. During the same quarter in the prior year, the business posted ($0.04) EPS. Hims & Hers Health's revenue for the quarter was up 77.1% compared to the same quarter last year. Equities analysts forecast that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

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.