Franklin Resources Inc. Sells 222,660 Shares of Hims & Hers Health, Inc. (NYSE:HIMS)

Franklin Resources Inc. trimmed its holdings in Hims & Hers Health, Inc. (NYSE:HIMS) by 15.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,177,195 shares of the company’s stock after selling 222,660 shares during the quarter. Franklin Resources Inc. owned about 0.54% of Hims & Hers Health worth $21,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC lifted its position in shares of Hims & Hers Health by 113.1% during the 2nd quarter. Renaissance Technologies LLC now owns 6,039,408 shares of the company’s stock valued at $121,936,000 after acquiring an additional 3,205,108 shares during the period. Wellington Management Group LLP grew its position in Hims & Hers Health by 34.5% in the 3rd quarter. Wellington Management Group LLP now owns 3,444,414 shares of the company’s stock valued at $63,446,000 after purchasing an additional 883,230 shares during the period. Geode Capital Management LLC lifted its stake in shares of Hims & Hers Health by 12.7% in the third quarter. Geode Capital Management LLC now owns 4,289,549 shares of the company’s stock valued at $79,029,000 after buying an additional 482,177 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Hims & Hers Health by 164.1% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 528,142 shares of the company’s stock worth $10,663,000 after acquiring an additional 328,142 shares in the last quarter. Finally, State of Michigan Retirement System raised its holdings in shares of Hims & Hers Health by 177.8% in the 2nd quarter. State of Michigan Retirement System now owns 500,000 shares of the company’s stock worth $10,095,000 after acquiring an additional 320,000 shares during the last quarter. Institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Stock Performance

HIMS stock opened at $26.36 on Friday. The company has a market capitalization of $5.76 billion, a price-to-earnings ratio of 59.91 and a beta of 1.25. The business’s 50 day moving average price is $25.63 and its two-hundred day moving average price is $21.23. Hims & Hers Health, Inc. has a fifty-two week low of $8.09 and a fifty-two week high of $35.02.

Hims & Hers Health (NYSE:HIMS) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.32 earnings per share (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 period last year, the company posted ($0.04) EPS. Hims & Hers Health’s revenue was up 77.1% on a year-over-year basis. Sell-side analysts forecast that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current year.

Insider Activity

In related news, insider Michael Chi sold 2,054 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $33.56, for a total transaction of $68,932.24. Following the transaction, the insider now owns 184,947 shares in the company, valued at $6,206,821.32. This represents a 1.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Oluyemi Okupe sold 9,868 shares of Hims & Hers Health stock in a transaction on Monday, October 7th. The stock was sold at an average price of $19.96, for a total value of $196,965.28. Following the completion of the sale, the chief financial officer now directly owns 195,988 shares of the company’s stock, valued at $3,911,920.48. The trade was a 4.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,085,157 shares of company stock worth $26,765,193 over the last three months. 17.71% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

HIMS has been the subject of several recent research reports. Needham & Company LLC initiated coverage on Hims & Hers Health in a report on Thursday, August 22nd. They set a “buy” rating and a $24.00 price target for the company. Canaccord Genuity Group increased their price target on Hims & Hers Health from $28.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Morgan Stanley initiated coverage on Hims & Hers Health in a research report on Tuesday. They set an “overweight” rating and a $42.00 target price for the company. Piper Sandler restated a “neutral” rating and set a $21.00 price objective (up previously from $18.00) on shares of Hims & Hers Health in a report on Tuesday, November 5th. Finally, Bank of America lowered shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $32.00 to $18.00 in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $22.80.

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.