Generali Investments Management Co LLC has taken a new position in Hims & Hers Health, Inc. (NYSE:HIMS), acquiring 2,504 shares valued at approximately $125,000. This transaction occurred during the second quarter of 2023, as detailed in a recent filing with the Securities and Exchange Commission (SEC). The investment firm joins a growing list of institutional investors who have recently adjusted their stakes in the telehealth platform.
In the same quarter, Rockefeller Capital Management L.P. increased its holdings in Hims & Hers Health by 14.8%, bringing its total ownership to 31,733 shares, valued at $1,582,000. Cetera Investment Advisers significantly raised its position by 94.9%, now owning 58,888 shares worth $2,936,000 after acquiring an additional 28,672 shares. Cedar Wealth Management LLC also purchased new shares valued at around $371,000, while Creative Planning boosted its holdings by 42.9%, now owning 90,906 shares worth $4,532,000. Notably, SG Americas Securities LLC dramatically increased its stake by 2,644.6%, owning 332,868 shares valued at $16,593,000 after acquiring an additional 320,740 shares. Overall, institutional investors now control 63.52% of Hims & Hers Health’s stock.
Analysts have provided varying assessments of Hims & Hers Health in recent weeks. Canaccord Genuity Group reaffirmed a “buy” rating with a target price of $68.00. Conversely, Bank of America increased its price target from $28.00 to $32.00, maintaining an “underperform” rating. Wall Street Zen downgraded the stock from “hold” to “sell,” while Zacks Research changed its rating from “strong-buy” to “hold.” Currently, analysts have issued two “buy” ratings, ten “hold” ratings, and three “sell” ratings, resulting in a consensus rating of “reduce” and an average price target of $45.27, according to MarketBeat.com.
In insider trading news, Michael Chi, an insider at the company, sold 13,749 shares on September 17, 2023, at an average price of $50.50, totaling $694,324.50. Following this sale, Chi holds 297,139 shares valued at approximately $15,005,519.50, representing a 4.42% decrease in ownership. CEO Andrew Dudum also sold 128,127 shares on September 16, 2023, for a total value of $6,852,231.96. His remaining 160,425 shares are valued at about $8,579,529, marking a 44.40% decrease in his stake. A total of 584,209 shares were sold by insiders in the last quarter, amounting to $31,837,916. Insiders currently own 17.71% of the company’s stock.
Hims & Hers Health experienced a 2.9% increase in its stock price, opening at $37.09 on November 3, 2023. The company’s shares have fluctuated between a 12-month low of $19.15 and a high of $72.98. Hims & Hers Health reported a 12-month moving average of $50.63 and a 200-day simple moving average of $51.46. The firm has a market capitalization of $8.44 billion and a price-to-earnings ratio of 68.68.
In its latest earnings report published on November 3, 2023, Hims & Hers Health announced earnings per share of $0.06, falling short of analysts’ expectations of $0.09 by $0.03. The company achieved a return on equity of 24.67% and a net margin of 6.05%. It reported revenue of $598.98 million for the quarter, surpassing the consensus estimate of $578.99 million. This revenue figure reflects a year-over-year increase of 49.2%. For the fiscal year 2025, Hims & Hers Health has set guidance for earnings per share.
Founded in 2017 and headquartered in San Francisco, California, Hims & Hers Health operates a telehealth consultation platform, connecting consumers with healthcare professionals for services related to mental health, sexual health, dermatology, and primary care.
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