State of Michigan Retirement System Has $48.55 Million Holdings in Hims & Hers Health, Inc. $HIMS

State of Michigan Retirement System raised its position in shares of Hims & Hers Health, Inc. (NYSE:HIMS) by 13.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,338,600 shares of the company’s stock after purchasing an additional 280,900 shares during the period. State of Michigan Retirement System owned 1.03% of Hims & Hers Health worth $48,549,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Flagship Harbor Advisors LLC acquired a new position in Hims & Hers Health in the fourth quarter worth approximately $28,000. Binnacle Investments Inc acquired a new stake in Hims & Hers Health in the third quarter valued at approximately $28,000. Bogart Wealth LLC lifted its stake in Hims & Hers Health by 235.8% in the fourth quarter. Bogart Wealth LLC now owns 900 shares of the company’s stock valued at $29,000 after acquiring an additional 632 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in Hims & Hers Health in the first quarter valued at approximately $30,000. Finally, Greenline Wealth Management LLC bought a new stake in Hims & Hers Health in the fourth quarter worth approximately $36,000. 63.52% of the stock is currently owned by institutional investors and hedge funds.

Hims & Hers Health Price Performance

NYSE:HIMS opened at $34.40 on Tuesday. The company has a 50-day moving average of $29.51 and a 200-day moving average of $26.33. The company has a market capitalization of $7.96 billion, a price-to-earnings ratio of -382.19, a PEG ratio of 96.75 and a beta of 2.35. Hims & Hers Health, Inc. has a 52 week low of $13.74 and a 52 week high of $70.43. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.56 and a current ratio of 1.69.

Hims & Hers Health (NYSE:HIMS) last posted its earnings results on Monday, May 11th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.44). Hims & Hers Health had a negative net margin of 0.56% and a positive return on equity of 6.10%. The business had revenue of $608.10 million during the quarter, compared to the consensus estimate of $616.84 million. During the same period in the previous year, the firm earned $0.20 EPS. The business’s revenue was up 3.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Hims & Hers Health, Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Hims & Hers Health news, insider Irene Becklund sold 4,490 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $31.50, for a total value of $141,435.00. Following the sale, the insider directly owned 6,790 shares in the company, valued at $213,885. This represents a 39.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Oluyemi Okupe sold 7,163 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $36.49, for a total value of $261,377.87. Following the completion of the sale, the chief financial officer owned 284,321 shares in the company, valued at $10,374,873.29. This trade represents a 2.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 167,161 shares of company stock worth $5,041,152. Insiders own 11.76% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Truist Financial increased their price target on shares of Hims & Hers Health from $18.00 to $23.00 and gave the stock a “hold” rating in a research note on Friday, May 22nd. Needham & Company LLC lifted their price objective on shares of Hims & Hers Health from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Bank of America upped their price objective on shares of Hims & Hers Health from $36.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. TD Cowen lowered their target price on shares of Hims & Hers Health from $25.00 to $23.00 and set a “hold” rating on the stock in a research report on Friday, March 27th. Finally, Weiss Ratings lowered Hims & Hers Health from a “hold (c)” rating to a “sell (d)” rating in a report on Tuesday, May 12th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $30.70.

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.