SAN FRANCISCO—Okupe Oluyemi, Chief Financial Officer of Hims & Hers Health, Inc. (NYSE:HIMS), recently sold shares of the company totaling approximately $285,783, according to a recent SEC filing. The transactions, executed on January 2, 2025, involved the sale of 11,581 shares at an average price range of $24.6632 to $24.7115 per share.
In addition to the sales, Oluyemi exercised stock options to acquire 6,437 shares at a price of $5.01 per share. Following these transactions, Oluyemi holds a total of 123,221 shares in the company.
These transactions were conducted under a pre-established 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for buying or selling company stock.
In other recent news, Hims & Hers Health has been making significant strides in the digital health sector. Needham & Company identified Hims & Hers as their top pick for 2025 due to its growth potential, raising their price target on the company's shares to $31. This confidence was further solidified by Needham's addition of the company to their Conviction List.
In contrast, the FDA's resolution of the tirzepatide injection shortage led to a 15% drop in Hims & Hers shares. This decision could alter the market dynamics for obesity drugs, affecting companies like Hims & Hers that have been offering compounded versions of such drugs.
On the analyst front, Morgan Stanley (NYSE:MS) initiated coverage on Hims & Hers with an Overweight rating, citing its potential for growth and strong performance in digital health and direct-to-consumer sectors. However, BofA Securities downgraded Hims & Hers from Buy to Underperform due to Amazon (NASDAQ:AMZN)'s entry into key markets.
Hims & Hers also reported a 77% year-over-year increase in Q3 sales, exceeding $400 million, with an adjusted EBITDA over $50 million. The company forecasted Q4 2024 revenue between $465 million and $470 million, marking an 89% to 91% year-over-year increase, and full-year revenue expected to be between $1.46 billion and $1.465 billion.
Lastly, Hims & Hers announced a partnership with Eli Lilly (NYSE:LLY) to streamline access to FDA-approved obesity medication Zepbound. Meanwhile, digital health company Ro also announced a similar collaboration with Eli Lilly, which resulted in a 4% pre-market trade fall in Hims & Hers shares.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.