Norges Bank Makes New $62.15 Million Investment in Hims & Hers Health, Inc. $HIMS

Norges Bank purchased a new stake in Hims & Hers Health, Inc. (NYSE:HIMS) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 1,914,177 shares of the company’s stock, valued at approximately $62,153,000.

Other large investors also recently made changes to their positions in the company. Flagship Harbor Advisors LLC acquired a new stake in shares of Hims & Hers Health during the fourth quarter worth $28,000. Binnacle Investments Inc acquired a new position in Hims & Hers Health in the third quarter valued at $28,000. Bogart Wealth LLC lifted its position in Hims & Hers Health by 235.8% during the fourth quarter. Bogart Wealth LLC now owns 900 shares of the company’s stock worth $29,000 after buying an additional 632 shares during the period. Geneos Wealth Management Inc. purchased a new position in Hims & Hers Health during the first quarter worth about $30,000. Finally, Entrust Financial LLC acquired a new stake in Hims & Hers Health in the 4th quarter worth about $47,000. Hedge funds and other institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Stock Performance

Shares of NYSE:HIMS opened at $26.25 on Friday. The firm has a market capitalization of $6.08 billion, a PE ratio of -291.71, a P/E/G ratio of 49.14 and a beta of 2.37. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.69 and a quick ratio of 1.56. The business has a 50-day moving average of $24.61 and a two-hundred day moving average of $27.08. Hims & Hers Health, Inc. has a 12 month low of $13.74 and a 12 month high of $70.43.

Hims & Hers Health (NYSE:HIMS) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.44). Hims & Hers Health had a positive return on equity of 6.10% and a negative net margin of 0.56%.The business had revenue of $608.10 million during the quarter, compared to analyst estimates of $616.84 million. During the same period in the previous year, the company earned $0.20 EPS. Hims & Hers Health’s revenue was up 3.8% on a year-over-year basis. As a group, research analysts forecast that Hims & Hers Health, Inc. will post 0.04 earnings per share for the current year.

Insider Activity

In other Hims & Hers Health news, Director David B. Wells bought 48,400 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were acquired at an average cost of $24.23 per share, with a total value of $1,172,732.00. Following the completion of the transaction, the director owned 224,417 shares in the company, valued at $5,437,623.91. The trade was a 27.50% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Oluyemi Okupe sold 7,950 shares of Hims & Hers Health stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $23.64, for a total value of $187,938.00. Following the sale, the chief financial officer owned 262,954 shares in the company, valued at $6,216,232.56. This represents a 2.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 212,807 shares of company stock worth $5,473,644. Corporate insiders own 11.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HIMS. TD Cowen dropped their price objective on shares of Hims & Hers Health from $25.00 to $23.00 and set a “hold” rating for the company in a research note on Friday, March 27th. Evercore set a $24.00 target price on shares of Hims & Hers Health in a research report on Tuesday, February 24th. Wall Street Zen downgraded shares of Hims & Hers Health from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Jefferies Financial Group set a $24.50 price target on shares of Hims & Hers Health in a research report on Tuesday, May 12th. Finally, Zacks Research raised shares of Hims & Hers Health from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 25th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $28.70.

About Hims & Hers Health

Hims & Hers Health, Inc is a telehealth platform providing direct-to-consumer personal care products and virtual medical services in the United States. Operating under the Hims & Hers brand, the company offers an integrated digital experience that connects users with licensed healthcare providers, enabling online consultations and prescriptions for a range of conditions. Its telemedicine infrastructure supports both prescription medications and over-the-counter products, with home delivery to patients’ doorsteps.

The company’s product portfolio addresses key areas of men’s and women’s health, including hair loss treatments, sexual wellness therapies, skincare regimens and mental health support.