State of Michigan Retirement System Invests $2.79 Million in Hims & Hers Health, Inc. (NYSE:HIMS)

State of Michigan Retirement System acquired a new position in shares of Hims & Hers Health, Inc. (NYSE:HIMS) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 180,000 shares of the company’s stock, valued at approximately $2,785,000. State of Michigan Retirement System owned 0.08% of Hims & Hers Health at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new position in Hims & Hers Health during the 4th quarter worth $48,000. Belpointe Asset Management LLC bought a new position in Hims & Hers Health during the 3rd quarter worth $76,000. Certuity LLC bought a new position in Hims & Hers Health during the 4th quarter worth $109,000. Custom Index Systems LLC bought a new position in Hims & Hers Health during the 4th quarter worth $132,000. Finally, Fragasso Group Inc. bought a new position in Hims & Hers Health during the 1st quarter worth $243,000. Institutional investors own 63.52% of the company’s stock.

Insider Activity

In other news, CEO Andrew Dudum sold 188,888 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $12.54, for a total value of $2,368,655.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Soleil Boughton sold 2,503 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $13.95, for a total value of $34,916.85. Following the completion of the sale, the insider now directly owns 164,363 shares of the company’s stock, valued at approximately $2,292,863.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Andrew Dudum sold 188,888 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $12.54, for a total value of $2,368,655.52. The disclosure for this sale can be found here. Insiders have sold 771,400 shares of company stock valued at $14,063,900 in the last ninety days. 17.71% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on HIMS shares. Canaccord Genuity Group raised their price objective on Hims & Hers Health from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, May 22nd. Bank of America raised their target price on Hims & Hers Health from $22.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Canaccord Genuity Group assumed coverage on Hims & Hers Health in a report on Wednesday, April 10th. They issued a “buy” rating and a $20.00 target price on the stock. Seaport Res Ptn reaffirmed a “buy” rating on shares of Hims & Hers Health in a report on Friday, April 26th. Finally, Jefferies Financial Group raised their target price on Hims & Hers Health from $14.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, June 27th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Hims & Hers Health presently has an average rating of “Moderate Buy” and an average target price of $17.00.

Hims & Hers Health Stock Performance

Hims & Hers Health stock opened at $20.47 on Thursday. Hims & Hers Health, Inc. has a 52-week low of $5.65 and a 52-week high of $25.74. The firm has a 50 day moving average price of $18.12 and a two-hundred day moving average price of $13.78.

Hims & Hers Health (NYSE:HIMS) last released its earnings results on Monday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.03. Hims & Hers Health had a negative net margin of 0.24% and a negative return on equity of 0.70%. The business had revenue of $278.20 million for the quarter, compared to analyst estimates of $270.37 million. During the same quarter in the previous year, the business earned ($0.05) earnings per share. Hims & Hers Health’s revenue for the quarter was up 45.8% on a year-over-year basis. Equities analysts expect that Hims & Hers Health, Inc. will post 0.2 earnings per share for the current fiscal year.

Hims & Hers Health 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.