SAN FRANCISCO—Andrew Dudum, the Chief Executive Officer of Hims & Hers Health, Inc. (NYSE:HIMS), recently reported significant stock transactions, according to a recent SEC filing. On December 16 and 17, Dudum sold shares totaling approximately $6.24 million. The sales were executed at prices ranging from $28.78 to $32.63 per share.
On December 13, Dudum acquired 176,308 shares of Class A Common Stock through the exercise of stock options, which were priced at $2.43 per share. Additionally, the company withheld 97,062 shares valued at $30.02 per share to cover tax obligations related to the vesting of restricted stock units.
The transactions were conducted under a pre-planned trading strategy, as indicated by the Rule 10b5-1 trading plan adopted by Dudum in August 2024. Following these transactions, Dudum holds a direct ownership of 30,710 shares, with additional shares held indirectly through the Dudum Family Community Property Trust.
Hims & Hers Health, Inc. continues to be a key player in the telehealth industry, providing a range of health and wellness solutions.
In other recent news, Hims & Hers Health has seen significant growth and changes. Morgan Stanley (NYSE:MS) initiated an Overweight rating on the company's stock, citing a strong investment opportunity due to its impressive revenue growth. The company's Q3 sales saw a 77% year-over-year increase, surpassing $400 million. Additionally, Hims & Hers Health forecasted Q4 2024 revenue between $465 million and $470 million, marking an 89% to 91% year-over-year increase.
The company recently announced a partnership with Eli Lilly (NYSE:LLY) to streamline access to FDA-approved obesity medication Zepbound. Furthermore, Hims & Hers Health expanded its board of directors, appointing Deb Autor as a new independent director. BofA Securities downgraded the company from Buy to Underperform, while TD (TSX:TD) Cowen reaffirmed its Buy rating. Piper Sandler and Needham raised their price targets, maintaining Neutral and Buy ratings respectively.
In potential regulatory news, the company could benefit from President-elect Donald Trump's nominee for the Food and Drug Administration (FDA) commissioner, Dr. Martin Makary, who is currently an executive at Sesame, a telehealth company that sells compounded GLP-1 drugs online. This development could potentially impact the FDA's stance on the compounding of GLP-1 products, which is crucial for companies like Hims & Hers.
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