SAN FRANCISCO—Michael Chi, the Chief Commercial Officer of Hims & Hers Health, Inc. (NYSE:HIMS), recently disclosed a series of stock transactions involving the company's Class A common stock. According to a filing with the Securities and Exchange Commission, Chi executed a sale of 17,304 shares on October 25, 2024, at a price of $22.00 per share, totaling approximately $380,688.
In addition to the sale, Chi exercised stock options to acquire 17,304 shares at a price of $5.01 per share. The stock option exercise was conducted under a Rule 10b5-1 trading plan adopted earlier this year on March 1, 2024. Following these transactions, Chi holds 193,980 shares in direct ownership.
These transactions are part of Chi's ongoing management of his equity holdings in Hims & Hers Health, a company known for its telehealth services and direct-to-consumer healthcare products.
In other recent news, Hims & Hers Health, Inc. has been experiencing significant developments. Leerink Partners recently raised their financial outlook for the company, anticipating a robust revenue report of $398.8 million for the upcoming quarter. The firm also adjusted its EBITDA forecast to $39.0 million, slightly above the consensus. Concurrently, BofA Securities increased its price target for Hims & Hers, maintaining a Buy rating, while Truist Securities held steady with a Hold rating.
The company has also made strategic moves, appointing Dr. Jessica Shepherd as the inaugural Chief Medical Officer for its Hers division. This appointment is aimed at enhancing its focus on personalized women's healthcare.
Amid these developments, Hims & Hers faces regulatory changes as the FDA reassesses the availability of tirzepatide, a drug previously on its shortage list. This decision could have implications for the company's operations, particularly its compounded GLP-1 product. These are the recent developments shaping Hims & Hers' current business landscape.
InvestingPro Insights
The recent stock transactions by Hims & Hers Health's Chief Commercial Officer Michael Chi come amid a period of significant growth for the company. According to InvestingPro data, Hims & Hers has experienced impressive revenue growth, with a 50.15% increase in the last twelve months as of Q2 2024, reaching $1.07 billion. This strong performance is reflected in the company's stock price, which has seen a remarkable 284.78% total return over the past year.
InvestingPro Tips highlight that Hims & Hers has been profitable over the last twelve months, with analysts predicting continued profitability this year. This positive outlook aligns with the company's robust revenue growth and may explain the high valuation multiples the stock currently commands.
It's worth noting that while Chi's recent stock sale might raise eyebrows, an InvestingPro Tip indicates that management has been aggressively buying back shares, potentially signaling confidence in the company's future prospects. This insider activity, coupled with the company's strong financial performance, presents a complex picture for investors to consider.
For those seeking a deeper understanding of Hims & Hers' financial health and market position, InvestingPro offers 14 additional tips, providing a more comprehensive analysis of the company's strengths and potential risks.
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