Cornerstone Investment Partners LLC Invests $240,000 in Hims & Hers Health, Inc. (NYSE:HIMS)

Cornerstone Investment Partners LLC acquired a new stake in Hims & Hers Health, Inc. (NYSE:HIMS) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 9,908 shares of the company’s stock, valued at approximately $240,000.

A number of other institutional investors have also made changes to their positions in HIMS. Yong Rong HK Asset Management Ltd bought a new position in shares of Hims & Hers Health in the 4th quarter valued at approximately $41,104,000. Principal Financial Group Inc. raised its stake in shares of Hims & Hers Health by 370.3% in the 4th quarter. Principal Financial Group Inc. now owns 1,365,769 shares of the company’s stock valued at $33,024,000 after acquiring an additional 1,075,355 shares in the last quarter. Wellington Management Group LLP grew its holdings in Hims & Hers Health by 34.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,444,414 shares of the company’s stock valued at $63,446,000 after buying an additional 883,230 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Hims & Hers Health by 128.7% in the 4th quarter. Bank of New York Mellon Corp now owns 1,244,953 shares of the company’s stock valued at $30,103,000 after buying an additional 700,500 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Hims & Hers Health by 12.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company’s stock valued at $79,029,000 after buying an additional 482,177 shares during the last quarter. 63.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on HIMS shares. Needham & Company LLC raised their target price on Hims & Hers Health from $31.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, February 25th. Piper Sandler raised their target price on Hims & Hers Health from $24.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft raised their target price on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Morgan Stanley lowered Hims & Hers Health from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $42.00 to $60.00 in a report on Tuesday, February 18th. Finally, Truist Financial lifted their price objective on Hims & Hers Health from $24.00 to $39.00 and gave the stock a “hold” rating in a report on Wednesday, February 26th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $37.23.

Insider Transactions at Hims & Hers Health

In related news, insider Michael Chi sold 17,303 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $48.14, for a total value of $832,966.42. Following the completion of the sale, the insider now owns 193,601 shares in the company, valued at approximately $9,319,952.14. This represents a 8.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Soleil Boughton sold 268,932 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $27.75, for a total value of $7,462,863.00. Following the transaction, the insider now owns 169,803 shares in the company, valued at approximately $4,712,033.25. This trade represents a 61.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,062,011 shares of company stock worth $36,892,724 over the last 90 days. 17.71% of the stock is owned by insiders.

Hims & Hers Health Stock Performance

Shares of HIMS opened at $40.65 on Tuesday. The company has a market cap of $9.03 billion, a price-to-earnings ratio of 92.39 and a beta of 1.35. Hims & Hers Health, Inc. has a 52-week low of $11.20 and a 52-week high of $72.98. The stock has a fifty day moving average price of $36.83 and a two-hundred day moving average price of $26.99.

Hims & Hers Health (NYSE:HIMS) last released its earnings results on Monday, February 24th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $481.14 million during the quarter, compared to the consensus estimate of $494.56 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. As a group, research analysts predict that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Hims & Hers Health Company Profile

Hims & Hers Health, Inc operates a telehealth consultation platform. It connects consumers to healthcare professionals, enabling them to access medical care for mental health, sexual health, dermatology and primary care. The company was founded in 2017 and is headquartered in San Francisco, CA.