Principal Financial Group Inc. Has $5.35 Million Position in Hims & Hers Health, Inc. (NYSE:HIMS)

Principal Financial Group Inc. boosted its holdings in Hims & Hers Health, Inc. (NYSE:HIMS) by 102.0% during the third quarter, Holdings Channel reports. The fund owned 290,414 shares of the company’s stock after purchasing an additional 146,621 shares during the period. Principal Financial Group Inc.’s holdings in Hims & Hers Health were worth $5,349,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Olympiad Research LP bought a new stake in shares of Hims & Hers Health during the third quarter worth approximately $262,000. QRG Capital Management Inc. boosted its stake in Hims & Hers Health by 3.9% in the 3rd quarter. QRG Capital Management Inc. now owns 162,029 shares of the company’s stock valued at $2,985,000 after purchasing an additional 6,077 shares during the period. Robeco Institutional Asset Management B.V. acquired a new position in Hims & Hers Health in the 3rd quarter valued at $604,000. Diversify Advisory Services LLC increased its position in Hims & Hers Health by 14.9% during the 3rd quarter. Diversify Advisory Services LLC now owns 51,828 shares of the company’s stock worth $955,000 after buying an additional 6,706 shares during the period. Finally, Lake Street Advisors Group LLC lifted its holdings in shares of Hims & Hers Health by 42.2% during the third quarter. Lake Street Advisors Group LLC now owns 67,366 shares of the company’s stock worth $1,241,000 after buying an additional 20,000 shares in the last quarter. Institutional investors and hedge funds own 63.52% of the company’s stock.

Hims & Hers Health Trading Down 7.4 %

Shares of Hims & Hers Health stock opened at $21.80 on Thursday. The firm’s 50 day moving average is $20.21 and its 200 day moving average is $19.09. The firm has a market capitalization of $4.76 billion, a PE ratio of 49.55 and a beta of 1.06. Hims & Hers Health, Inc. has a 1 year low of $7.51 and a 1 year high of $30.44.

Hims & Hers Health (NYSE:HIMS) last posted its earnings results on Monday, November 4th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.26. Hims & Hers Health had a net margin of 8.19% and a return on equity of 10.97%. The firm had revenue of $401.56 million for the quarter, compared to analysts’ expectations of $382.20 million. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. The company’s revenue was up 77.1% on a year-over-year basis. As a group, research analysts anticipate that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Melissa Baird sold 58,750 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $21.04, for a total transaction of $1,236,100.00. Following the completion of the transaction, the chief operating officer now directly owns 630,166 shares in the company, valued at $13,258,692.64. This trade represents a 8.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Dudum sold 188,888 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $14.56, for a total transaction of $2,750,209.28. Following the completion of the sale, the chief executive officer now directly owns 33,502 shares in the company, valued at approximately $487,789.12. This represents a 84.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,056,183 shares of company stock valued at $21,501,682 in the last 90 days. Corporate insiders own 17.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on HIMS. Imperial Capital downgraded shares of Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research note on Friday, August 9th. Bank of America lowered shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $32.00 to $18.00 in a research report on Thursday, November 14th. Piper Sandler reiterated a “neutral” rating and issued a $21.00 price target (up from $18.00) on shares of Hims & Hers Health in a research report on Tuesday, November 5th. TD Cowen restated a “buy” rating and set a $28.00 price objective on shares of Hims & Hers Health in a research note on Wednesday. Finally, Canaccord Genuity Group lifted their price objective on Hims & Hers Health from $24.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Hims & Hers Health presently has an average rating of “Hold” and a consensus target price of $20.71.

Hims & Hers Health Profile

Hims & Hers Health, Inc operates a telehealth platform that connects consumers to licensed healthcare professionals in the United States, the United Kingdom, and internationally. The company offers a range of curated prescription and non-prescription health and wellness products and services available to purchase on its websites and mobile application directly by customers.