SAN FRANCISCO—Andrew Dudum, CEO of Hims & Hers Health Inc. (NYSE:HIMS), recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Dudum sold shares worth approximately $2.27 million on January 16, 2025. The sales were executed at prices ranging from $26.9639 to $27.3986 per share.
The transactions were part of a pre-arranged trading plan under Rule 10b5-1, adopted by Dudum in August 2024. This plan allows company insiders to sell a predetermined number of shares at a predetermined time, helping to avoid concerns about insider trading.
In addition to the sales, Dudum also exercised stock options to acquire 33,668 shares of Class A Common Stock at a price of $2.43 per share, totaling $81,813. Following these transactions, Dudum holds a substantial number of shares both directly and indirectly through various trusts.
Hims & Hers Health, a telehealth company, continues to be a significant player in the digital health space, offering a range of services from mental health counseling to dermatology.
In other recent news, Hims & Hers Health has seen significant developments in its financial status and market position. The company reported a notable 77% year-over-year increase in Q3 sales, surpassing $400 million, with an adjusted EBITDA over $50 million. Projections for Q4 2024 revenue range between $465 million and $470 million, indicating a substantial year-over-year increase.
BofA Securities maintained an Underperform rating on the company's shares due to potential challenges in the pharmaceutical sector, while BTIG initiated coverage with a Buy rating, highlighting robust revenue growth. Morgan Stanley (NYSE:MS) also initiated coverage with an Overweight rating, acknowledging the company's potential in the digital health and direct-to-consumer sectors.
Hims & Hers Health is planning to introduce liraglutide in 2025, a decision that may face risks if further compounding restrictions are imposed. The company recently announced a partnership with Eli Lilly (NYSE:LLY) to streamline access to FDA-approved obesity medication Zepbound. These developments highlight the ongoing efforts by Hims & Hers Health to continue providing comprehensive health services to its customers.
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