Bank of America Corp DE Buys 2,877,550 Shares of Hims & Hers Health, Inc. $HIMS

Bank of America Corp DE lifted its stake in shares of Hims & Hers Health, Inc. (NYSE:HIMS) by 194.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 4,357,672 shares of the company’s stock after buying an additional 2,877,550 shares during the quarter. Bank of America Corp DE’s holdings in Hims & Hers Health were worth $90,465,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Hims & Hers Health by 23.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 418,699 shares of the company’s stock valued at $12,373,000 after acquiring an additional 78,543 shares during the period. Geneos Wealth Management Inc. acquired a new stake in Hims & Hers Health during the first quarter worth approximately $30,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Hims & Hers Health by 273.7% during the second quarter. EverSource Wealth Advisors LLC now owns 938 shares of the company’s stock worth $47,000 after acquiring an additional 687 shares during the period. Amundi boosted its holdings in shares of Hims & Hers Health by 5.3% during the second quarter. Amundi now owns 10,296 shares of the company’s stock worth $489,000 after acquiring an additional 522 shares during the period. Finally, California Public Employees Retirement System grew its position in shares of Hims & Hers Health by 9.5% in the second quarter. California Public Employees Retirement System now owns 338,620 shares of the company’s stock valued at $16,880,000 after purchasing an additional 29,471 shares during the last quarter. Institutional investors and hedge funds own 63.52% of the company’s stock.

Hims & Hers Health Stock Performance

NYSE HIMS opened at $31.58 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.69 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $7.31 billion, a P/E ratio of -350.89, a P/E/G ratio of 88.90 and a beta of 2.40. Hims & Hers Health, Inc. has a 12-month low of $13.74 and a 12-month high of $65.30. The firm has a 50-day moving average price of $31.86 and a two-hundred day moving average price of $26.10.

Hims & Hers Health (NYSE:HIMS) last announced its earnings results on Monday, May 11th. The company reported ($0.40) 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 for the quarter, compared to the consensus estimate of $616.84 million. During the same period in the prior year, the business posted $0.20 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. Analysts anticipate that Hims & Hers Health, Inc. will post 0.03 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Patrick Harrison Carroll sold 23,726 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $35.00, for a total transaction of $830,410.00. Following the sale, the insider owned 181,861 shares of the company’s stock, valued at $6,365,135. This represents a 11.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Irene Becklund sold 4,490 shares of the firm’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 transaction, the insider owned 6,790 shares in the company, valued at approximately $213,885. This trade represents a 39.80% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 83,126 shares of company stock valued at $2,711,339 in the last quarter. Company insiders own 11.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on HIMS. UBS Group set a $23.00 target price on Hims & Hers Health in a research note on Friday, May 22nd. JPMorgan Chase & Co. reduced their price target on Hims & Hers Health from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, May 12th. Citigroup upped their price objective on Hims & Hers Health from $28.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Truist Financial increased their price objective on Hims & Hers Health from $23.00 to $27.00 and gave the stock a “hold” rating in a research report on Friday, July 24th. Finally, BTIG Research reissued a “neutral” rating on shares of Hims & Hers Health in a report on Tuesday, May 12th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $31.43.

Hims & Hers Health 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.