Generali Investments Management Co LLC has acquired a new stake in Hims & Hers Health, Inc. (NYSE:HIMS), purchasing 2,504 shares valued at around $125,000. This investment occurred during the second quarter of 2023, as indicated by the company’s latest filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently adjusted their positions in Hims & Hers Health. Notably, Rockefeller Capital Management L.P. increased its stake by 14.8%, now holding 31,733 shares valued at $1,582,000 after acquiring an additional 4,080 shares. Cetera Investment Advisers significantly boosted its holdings by 94.9%, bringing its total to 58,888 shares worth $2,936,000 following a purchase of 28,672 shares.
Additionally, Cedar Wealth Management LLC initiated a new position valued at approximately $371,000, while Creative Planning raised its holdings by 42.9% to 90,906 shares worth $4,532,000. In a particularly notable move, SG Americas Securities LLC increased its stake by an astounding 2,644.6%, now owning 332,868 shares valued at $16,593,000. Overall, institutional investors hold 63.52% of Hims & Hers Health’s stock.
Analyst Ratings and Insider Transactions
Recent commentary from equity analysts provides a mixed outlook for Hims & Hers Health. Canaccord Genuity Group maintained a “buy” rating with a target price of $68.00, while Bank of America raised its price objective from $28.00 to $32.00, assigning an “underperform” rating. Conversely, Wall Street Zen downgraded the stock from a “hold” to a “sell” rating, reflecting a cautious stance among some analysts.
Despite the varied ratings, the consensus on the stock remains cautious, with two analysts recommending a “buy,” ten issuing “hold” ratings, and three advising “sell.” According to MarketBeat.com, the average price target stands at $45.27.
In terms of insider activity, Michael Chi, an insider at Hims & Hers Health, sold 13,749 shares on September 17, 2023, at an average price of $50.50, totaling approximately $694,324.50. Following this transaction, Chi retained 297,139 shares, valued at $15,005,519.50, reflecting a 4.42% decrease in ownership.
CEO Andrew Dudum also sold 128,127 shares on September 16, 2023, at an average price of $53.48, resulting in a total value of about $6,852,231.96. After this sale, Dudum holds 160,425 shares valued at $8,579,529, marking a significant 44.40% decrease in his position. In total, insiders sold 584,209 shares worth $31,837,916 in the last quarter, further highlighting active trading among company insiders.
Current Stock Performance and Company Overview
On the trading front, shares of Hims & Hers Health opened at $37.09. The company has experienced a 12-month low of $19.15 and a high of $72.98. Its 50-day simple moving average stands at $50.63, while the 200-day average is $51.46. The firm has a market capitalization of $8.44 billion and a price-to-earnings ratio of 68.68.
In its most recent earnings report, Hims & Hers Health announced earnings of $0.06 per share for the quarter, falling short of analysts’ consensus estimates of $0.09 by $0.03. Revenue reached $598.98 million, surpassing the expected $578.99 million and reflecting a year-over-year increase of 49.2%. The company has projected earnings per share (EPS) guidance for the fiscal year 2025.
Founded in 2017 and headquartered in San Francisco, CA, Hims & Hers Health, Inc. operates a telehealth consultation platform. The company connects consumers with healthcare professionals to provide access to medical care across various fields, including mental health, sexual health, dermatology, and primary care.
