JPMorgan Chase & Co. Decreases Holdings in Hims & Hers Health, Inc. (NYSE:HIMS)

JPMorgan Chase & Co. lowered its stake in Hims & Hers Health, Inc. (NYSE:HIMS) by 19.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,050,122 shares of the company’s stock after selling 504,044 shares during the period. JPMorgan Chase & Co.’s holdings in Hims & Hers Health were worth $37,763,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Main Management ETF Advisors LLC bought a new stake in shares of Hims & Hers Health in the 3rd quarter valued at approximately $672,000. Robeco Institutional Asset Management B.V. bought a new stake in Hims & Hers Health in the third quarter worth $604,000. Carnegie Investment Counsel bought a new stake in Hims & Hers Health in the third quarter worth $5,531,000. Royce & Associates LP boosted its stake in Hims & Hers Health by 17.0% during the third quarter. Royce & Associates LP now owns 341,000 shares of the company’s stock worth $6,281,000 after buying an additional 49,500 shares during the period. Finally, Versor Investments LP bought a new position in Hims & Hers Health during the third quarter valued at $634,000. 63.52% of the stock is owned by institutional investors.

Hims & Hers Health Trading Up 5.7 %

HIMS opened at $26.63 on Monday. Hims & Hers Health, Inc. has a 12 month low of $8.09 and a 12 month high of $35.02. The stock has a fifty day moving average price of $26.66 and a 200-day moving average price of $21.50. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 60.52 and a beta of 1.25.

Hims & Hers Health (NYSE:HIMS) last posted its earnings results on Monday, November 4th. The company reported $0.32 EPS for the quarter, beating 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 company had revenue of $401.56 million during the quarter, compared to analysts’ expectations of $382.20 million. During the same quarter in the prior year, the company posted ($0.04) earnings per share. Hims & Hers Health’s revenue for the quarter was up 77.1% compared to the same quarter last year. On average, equities research analysts forecast that Hims & Hers Health, Inc. will post 0.29 EPS for the current year.

Insider Buying and Selling

In other news, CEO Andrew Dudum sold 188,888 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $20.88, for a total value of $3,943,981.44. Following the transaction, the chief executive officer now directly owns 67,015 shares of the company’s stock, valued at approximately $1,399,273.20. This represents a 73.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Oluyemi Okupe sold 269,739 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $20.31, for a total value of $5,478,399.09. Following the completion of the sale, the chief financial officer now owns 145,763 shares in the company, valued at approximately $2,960,446.53. This represents a 64.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,064,514 shares of company stock worth $26,712,334 in the last ninety days. 17.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

HIMS has been the subject of a number of recent analyst reports. TD Cowen reaffirmed a “buy” rating and set a $28.00 price target on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Morgan Stanley began coverage on Hims & Hers Health in a research note on Tuesday, December 17th. They set an “overweight” rating and a $42.00 price target for the company. Deutsche Bank Aktiengesellschaft upped their price objective on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Bank of America lowered shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and lowered their target price for the company from $32.00 to $18.00 in a research note on Thursday, November 14th. Finally, Canaccord Genuity Group raised their price target on shares of Hims & Hers Health from $28.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $23.36.

About Hims & Hers Health

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.