Steadview Capital Management LLC Purchases 311,845 Shares of Hims & Hers Health, Inc. $HIMS

Steadview Capital Management LLC raised its position in Hims & Hers Health, Inc. (NYSE:HIMS) by 80.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 701,845 shares of the company’s stock after acquiring an additional 311,845 shares during the quarter. Hims & Hers Health makes up approximately 5.7% of Steadview Capital Management LLC’s portfolio, making the stock its 6th biggest position. Steadview Capital Management LLC owned 0.31% of Hims & Hers Health worth $39,809,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Virtus Advisers LLC purchased a new stake in Hims & Hers Health during the 2nd quarter worth approximately $26,000. Quent Capital LLC acquired a new stake in shares of Hims & Hers Health in the third quarter valued at $28,000. Quaker Wealth Management LLC purchased a new position in Hims & Hers Health in the second quarter valued at $29,000. Bessemer Group Inc. grew its stake in Hims & Hers Health by 105.8% during the 2nd quarter. Bessemer Group Inc. now owns 607 shares of the company’s stock worth $30,000 after purchasing an additional 312 shares in the last quarter. Finally, Geneos Wealth Management Inc. acquired a new stake in Hims & Hers Health in the 1st quarter valued at about $30,000. Institutional investors and hedge funds own 63.52% of the company’s stock.

Hims & Hers Health Price Performance

Shares of NYSE:HIMS opened at $30.51 on Friday. Hims & Hers Health, Inc. has a 12 month low of $23.97 and a 12 month high of $72.98. The firm has a market capitalization of $6.95 billion, a P/E ratio of 56.50, a P/E/G ratio of 4.90 and a beta of 2.37. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.88 and a quick ratio of 1.64. The company’s fifty day moving average price is $35.10 and its 200 day moving average price is $45.21.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). Hims & Hers Health had a return on equity of 24.67% and a net margin of 6.05%.The firm had revenue of $598.98 million for the quarter, compared to analysts’ expectations of $578.99 million. During the same period in the previous year, the business posted $0.32 EPS. The business’s revenue for the quarter was up 49.2% compared to the same quarter last year. As a group, sell-side analysts predict that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Hims & Hers Health declared that its board has initiated a share buyback program on Monday, November 17th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Hims & Hers Health

In related news, insider Irene Becklund sold 8,411 shares of the company’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $36.71, for a total value of $308,767.81. Following the completion of the sale, the insider owned 2,126 shares in the company, valued at $78,045.46. This represents a 79.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Oluyemi Okupe sold 23,187 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $36.81, for a total transaction of $853,513.47. Following the sale, the chief financial officer owned 70,232 shares of the company’s stock, valued at approximately $2,585,239.92. This represents a 24.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 134,611 shares of company stock valued at $4,895,914 over the last 90 days. 13.71% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HIMS. UBS Group set a $32.00 target price on shares of Hims & Hers Health in a research note on Tuesday, November 4th. Evercore ISI initiated coverage on shares of Hims & Hers Health in a research report on Monday, January 12th. They issued an “in-line” rating and a $33.00 price objective on the stock. Zacks Research lowered shares of Hims & Hers Health from a “hold” rating to a “strong sell” rating in a report on Monday. Barclays initiated coverage on shares of Hims & Hers Health in a research note on Monday, December 8th. They set an “overweight” rating and a $48.00 target price for the company. Finally, Citigroup restated a “sell” rating on shares of Hims & Hers Health in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Hims & Hers Health presently has an average rating of “Hold” and an average target price of $44.54.

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.