Meridian Wealth Management LLC Acquires Shares of 8,725 Hims & Hers Health, Inc. (NYSE:HIMS)

Meridian Wealth Management LLC acquired a new stake in shares of Hims & Hers Health, Inc. (NYSE:HIMS) in the 4th quarter, HoldingsChannel reports. The firm acquired 8,725 shares of the company’s stock, valued at approximately $211,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Main Management ETF Advisors LLC purchased a new stake in Hims & Hers Health during the 3rd quarter valued at approximately $672,000. Robeco Institutional Asset Management B.V. purchased a new stake in Hims & Hers Health during the 3rd quarter valued at approximately $604,000. Royce & Associates LP raised its stake in Hims & Hers Health by 17.0% during the 3rd quarter. Royce & Associates LP now owns 341,000 shares of the company’s stock valued at $6,281,000 after acquiring an additional 49,500 shares during the last quarter. Versor Investments LP purchased a new stake in Hims & Hers Health during the 3rd quarter valued at approximately $634,000. Finally, Blueshift Asset Management LLC raised its stake in Hims & Hers Health by 834.8% during the 3rd quarter. Blueshift Asset Management LLC now owns 245,013 shares of the company’s stock valued at $4,513,000 after acquiring an additional 218,804 shares during the last quarter. 63.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on HIMS. Morgan Stanley downgraded Hims & Hers Health from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $42.00 to $60.00 in a research note on Tuesday, February 18th. Canaccord Genuity Group increased their target price on Hims & Hers Health from $38.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Leerink Partners increased their target price on Hims & Hers Health from $24.00 to $40.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 25th. TD Cowen reissued a “buy” rating and set a $28.00 target price on shares of Hims & Hers Health in a research note on Wednesday, November 20th. Finally, Truist Financial increased their target price on Hims & Hers Health from $24.00 to $39.00 and gave the stock a “hold” rating in a research note on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Hims & Hers Health has an average rating of “Hold” and an average price target of $37.23.

Hims & Hers Health Price Performance

HIMS opened at $34.32 on Friday. The stock’s 50 day simple moving average is $37.45 and its 200 day simple moving average is $27.31. The stock has a market cap of $7.63 billion, a P/E ratio of 78.01 and a beta of 1.37. Hims & Hers Health, Inc. has a 1-year low of $11.20 and a 1-year high of $72.98.

Hims & Hers Health (NYSE:HIMS) last announced its earnings results on Monday, February 24th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $481.14 million for the quarter, compared to analysts’ expectations of $494.56 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. Research analysts expect that Hims & Hers Health, Inc. will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling at Hims & Hers Health

In other news, insider Michael Chi sold 7,259 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $32.25, for a total transaction of $234,102.75. Following the sale, the insider now owns 184,947 shares in the company, valued at $5,964,540.75. This trade represents a 3.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Soleil Boughton sold 4,152 shares of Hims & Hers Health stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $60.69, for a total value of $251,984.88. Following the completion of the sale, the insider now directly owns 157,345 shares of the company’s stock, valued at approximately $9,549,268.05. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,062,011 shares of company stock worth $36,892,724. 17.71% of the stock is owned by insiders.

Hims & Hers Health 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.