Principal Financial Group Inc. Buys 146,621 Shares of Hims & Hers Health, Inc. (NYSE:HIMS)

Principal Financial Group Inc. boosted its position in Hims & Hers Health, Inc. (NYSE:HIMS) by 102.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 290,414 shares of the company’s stock after purchasing an additional 146,621 shares during the quarter. Principal Financial Group Inc. owned approximately 0.13% of Hims & Hers Health worth $5,349,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Sanctuary Advisors LLC grew its position in shares of Hims & Hers Health by 26.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 26,057 shares of the company’s stock worth $480,000 after buying an additional 5,505 shares during the last quarter. Neo Ivy Capital Management purchased a new position in Hims & Hers Health in the third quarter worth $1,252,000. Geode Capital Management LLC increased its position in shares of Hims & Hers Health by 12.7% during the third quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company’s stock worth $79,029,000 after purchasing an additional 482,177 shares in the last quarter. Barclays PLC lifted its holdings in shares of Hims & Hers Health by 9.7% during the 3rd quarter. Barclays PLC now owns 308,363 shares of the company’s stock valued at $5,680,000 after purchasing an additional 27,231 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its position in shares of Hims & Hers Health by 312.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 134,018 shares of the company’s stock worth $2,469,000 after purchasing an additional 101,536 shares in the last quarter. 63.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Canaccord Genuity Group increased their price target on Hims & Hers Health from $28.00 to $38.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Piper Sandler reaffirmed 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. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. TD Cowen reiterated a “buy” rating and set a $28.00 price objective on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Finally, Bank of America lowered shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $32.00 to $18.00 in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $22.80.

Insider Transactions at Hims & Hers Health

In other Hims & Hers Health news, COO Melissa Baird sold 58,750 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $19.57, for a total transaction of $1,149,737.50. Following the completion of the transaction, the chief operating officer now directly owns 630,166 shares in the company, valued at approximately $12,332,348.62. This represents a 8.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael Chi sold 2,054 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $33.56, for a total transaction of $68,932.24. Following the transaction, the insider now directly owns 184,947 shares in the company, valued at approximately $6,206,821.32. The trade was a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,133,132 shares of company stock valued at $28,059,037 in the last three months. 17.71% of the stock is currently owned by company insiders.

Hims & Hers Health Price Performance

Shares of NYSE HIMS opened at $24.18 on Thursday. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 54.96 and a beta of 1.25. The firm’s 50 day simple moving average is $26.43 and its 200-day simple moving average is $21.48. Hims & Hers Health, Inc. has a 12 month low of $8.09 and a 12 month high of $35.02.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings results on Monday, November 4th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.06 by $0.26. The company had revenue of $401.56 million for the quarter, compared to analyst estimates of $382.20 million. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The firm’s revenue was up 77.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.04) earnings per share. Analysts anticipate that Hims & Hers Health, Inc. will post 0.29 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.