Southpoint Capital Advisors LP Invests $10.38 Million in Hims & Hers Health, Inc. $HIMS

Southpoint Capital Advisors LP bought a new stake in shares of Hims & Hers Health, Inc. (NYSE:HIMS) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 500,000 shares of the company’s stock, valued at approximately $10,380,000. Southpoint Capital Advisors LP owned approximately 0.22% of Hims & Hers Health at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Binnacle Investments Inc bought a new position in Hims & Hers Health in the third quarter worth about $28,000. Flagship Harbor Advisors LLC bought a new stake in Hims & Hers Health during the 4th quarter valued at approximately $28,000. Bogart Wealth LLC grew its holdings in shares of Hims & Hers Health by 235.8% during the 4th quarter. Bogart Wealth LLC now owns 900 shares of the company’s stock worth $29,000 after acquiring an additional 632 shares during the period. Geneos Wealth Management Inc. purchased a new position in shares of Hims & Hers Health during the 1st quarter worth approximately $30,000. Finally, Greenline Wealth Management LLC bought a new position in shares of Hims & Hers Health in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Stock Performance

Shares of HIMS opened at $30.23 on Tuesday. 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 stock has a market cap of $7.00 billion, a P/E ratio of -335.84, a P/E/G ratio of 79.05 and a beta of 2.35. The business’s 50 day moving average price is $30.91 and its 200-day moving average price is $26.25. Hims & Hers Health, Inc. has a 52 week low of $13.74 and a 52 week high of $70.43.

Hims & Hers Health (NYSE:HIMS) last released 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 company had revenue of $608.10 million during the quarter, compared to the consensus estimate of $616.84 million. During the same period last year, the firm posted $0.20 earnings per share. The company’s revenue was up 3.8% compared to the same quarter last year. Equities research analysts anticipate that Hims & Hers Health, Inc. will post 0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Hims & Hers Health news, insider Patrick Harrison Carroll sold 23,726 shares of Hims & Hers Health stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $35.00, for a total value of $830,410.00. Following the completion of the transaction, the insider directly owned 181,861 shares of the company’s stock, valued at approximately $6,365,135. The trade was a 11.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Irene Becklund sold 7,573 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $30.25, for a total transaction of $229,083.25. Following the completion of the transaction, the insider owned 11,280 shares in the company, valued at approximately $341,220. This represents a 40.17% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. In the last three months, insiders sold 83,126 shares of company stock valued at $2,711,339. 11.76% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HIMS. Truist Financial raised their target price on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research note on Friday. Jefferies Financial Group set a $24.50 price objective on Hims & Hers Health in a report on Tuesday, May 12th. Needham & Company LLC raised their price objective on Hims & Hers Health from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. BTIG Research reissued a “neutral” rating on shares of Hims & Hers Health in a research report on Tuesday, May 12th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $25.00 target price on shares of Hims & Hers Health in a report on Tuesday, May 5th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $31.43.

Hims & Hers Health Company 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.