Hims & Hers Health, Inc. $HIMS Position Boosted by Fortis Group Advisors LLC

Fortis Group Advisors LLC grew its holdings in Hims & Hers Health, Inc. (NYSE:HIMS) by 87.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 105,335 shares of the company’s stock after purchasing an additional 49,205 shares during the period. Hims & Hers Health comprises 1.0% of Fortis Group Advisors LLC’s portfolio, making the stock its 20th largest holding. Fortis Group Advisors LLC’s holdings in Hims & Hers Health were worth $5,975,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Pathway Capital Management LP acquired a new stake in Hims & Hers Health during the third quarter valued at $6,766,000. Ethic Inc. purchased a new stake in shares of Hims & Hers Health during the 2nd quarter worth about $348,000. Steadview Capital Management LLC lifted its holdings in shares of Hims & Hers Health by 80.0% during the 3rd quarter. Steadview Capital Management LLC now owns 701,845 shares of the company’s stock valued at $39,809,000 after buying an additional 311,845 shares during the last quarter. State of Michigan Retirement System lifted its holdings in shares of Hims & Hers Health by 49.2% during the 3rd quarter. State of Michigan Retirement System now owns 2,057,700 shares of the company’s stock valued at $116,713,000 after buying an additional 678,600 shares during the last quarter. Finally, Carnegie Investment Counsel grew its stake in shares of Hims & Hers Health by 25.4% in the 3rd quarter. Carnegie Investment Counsel now owns 303,909 shares of the company’s stock valued at $17,238,000 after buying an additional 61,560 shares in the last quarter. 63.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Hims & Hers Health

In other Hims & Hers Health news, insider Irene Becklund sold 8,411 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $36.71, for a total value of $308,767.81. Following the completion of the transaction, the insider owned 2,126 shares of the company’s stock, valued at $78,045.46. This represents a 79.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Deborah M. Autor sold 7,054 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $36.71, for a total value of $258,952.34. Following the completion of the sale, the insider owned 6,175 shares of the company’s stock, valued at $226,684.25. This represents a 53.32% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 82,963 shares of company stock worth $2,944,621. 17.71% of the stock is currently owned by insiders.

Hims & Hers Health Stock Performance

Shares of NYSE HIMS opened at $16.31 on Wednesday. Hims & Hers Health, Inc. has a 12 month low of $15.63 and a 12 month high of $72.98. The company has a market cap of $3.71 billion, a P/E ratio of 30.20, a P/E/G ratio of 3.04 and a beta of 2.43. The business’s 50 day moving average is $29.94 and its two-hundred day moving average is $41.14. The company has a quick ratio of 1.64, a current ratio of 1.88 and a debt-to-equity ratio of 1.67.

Hims & Hers Health announced that its board has authorized a share buyback program on Monday, November 17th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Bank of America reduced their target price on shares of Hims & Hers Health from $26.00 to $21.00 and set an “underperform” rating for the company in a research note on Monday, February 9th. Barclays initiated coverage on shares of Hims & Hers Health in a research note on Monday, December 8th. They issued an “overweight” rating and a $48.00 price objective for the company. UBS Group set a $32.00 target price on shares of Hims & Hers Health in a research report on Tuesday, November 4th. Zacks Research downgraded Hims & Hers Health from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Finally, Leerink Partners raised Hims & Hers Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Hims & Hers Health presently has a consensus rating of “Hold” and a consensus price target of $39.32.

Hims & Hers Health Company Profile

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.