Bridgewater Associates LP Raises Position in Hims & Hers Health, Inc. (NYSE:HIMS)

Bridgewater Associates LP grew its holdings in shares of Hims & Hers Health, Inc. (NYSE:HIMS) by 63.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 301,072 shares of the company’s stock after purchasing an additional 117,251 shares during the quarter. Bridgewater Associates LP’s holdings in Hims & Hers Health were worth $5,546,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Quest Partners LLC lifted its stake in shares of Hims & Hers Health by 22.6% during the 3rd quarter. Quest Partners LLC now owns 4,373 shares of the company’s stock worth $81,000 after purchasing an additional 807 shares during the period. CWM LLC raised its position 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 period. Arizona State Retirement System raised its position in shares of Hims & Hers Health by 3.0% in the 2nd quarter. Arizona State Retirement System now owns 40,344 shares of the company’s stock worth $815,000 after buying an additional 1,173 shares during the period. Victory Capital Management Inc. raised its position in shares of Hims & Hers Health by 6.6% in the 2nd quarter. Victory Capital Management Inc. now owns 19,469 shares of the company’s stock worth $393,000 after buying an additional 1,212 shares during the period. Finally, Nisa Investment Advisors LLC raised its position 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 buying an additional 1,603 shares during the period. Hedge funds and other institutional investors own 63.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Canaccord Genuity Group increased their target price on Hims & Hers Health from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Imperial Capital lowered Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research report on Friday, August 9th. Needham & Company LLC started coverage on Hims & Hers Health in a research report on Thursday, August 22nd. They issued a “buy” rating and a $24.00 target price on the stock. Piper Sandler reissued a “neutral” rating and issued a $21.00 price objective (up from $18.00) on shares of Hims & Hers Health in a research report on Tuesday, November 5th. Finally, TD Cowen reissued a “buy” rating and issued a $28.00 price objective on shares of Hims & Hers Health in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $20.71.

Insider Buying and Selling

In related news, insider Soleil Boughton sold 2,343 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 165,254 shares of the company’s stock, valued at $4,941,094.60. The trade was a 1.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Oluyemi Okupe sold 142,886 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $29.93, for a total value of $4,276,577.98. Following the completion of the sale, the chief financial officer now directly owns 112,186 shares of the company’s stock, valued at approximately $3,357,726.98. This represents a 56.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,153,519 shares of company stock worth $24,486,721. Corporate insiders own 17.71% of the company’s stock.

Hims & Hers Health Price Performance

Shares of Hims & Hers Health stock opened at $32.22 on Friday. The business has a 50-day moving average of $22.01 and a 200-day moving average of $19.86. The company has a market capitalization of $7.04 billion, a PE ratio of 73.23 and a beta of 1.06. Hims & Hers Health, Inc. has a 1-year low of $8.09 and a 1-year high of $35.02.

Hims & Hers Health (NYSE:HIMS) last announced its earnings results on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.26. The company had revenue of $401.56 million during the quarter, compared to the consensus estimate 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 last year, the firm earned ($0.04) earnings per share. On average, equities analysts expect 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.