Okupe Oluyemi, the Chief Financial Officer of Hims & Hers Health, Inc. (NYSE:HIMS), recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission. On November 25, Oluyemi sold a total of 101,993 shares of Class A Common Stock, generating approximately $3.02 million. The shares were sold at prices ranging from $26.5781 to $30.0072.
Additionally, Oluyemi exercised options to acquire 97,776 shares at a price of $5.01 per share, valued at $489,857. Following these transactions, Oluyemi holds 109,392 shares directly. These transactions were conducted under a Rule 10b5-1 trading plan set up earlier this year.
In other recent news, Hims & Hers Health, Inc. has been the focus of several significant updates. The company reported a 77% year-over-year increase in third-quarter sales, surpassing $400 million, with an adjusted EBITDA over $50 million. The company also projected Q4 2024 revenue between $465 million and $470 million, marking an 89% to 91% year-over-year increase. Full-year revenue is expected to be between $1.46 billion and $1.465 billion, reflecting a 67% to 68% increase.
On the analyst front, TD (TSX:TD) Cowen reaffirmed its Buy rating on Hims & Hers, focusing on the impact of an FDA case involving the drug tirzepatide. However, BofA Securities downgraded Hims & Hers from Buy to Underperform due to Amazon (NASDAQ:AMZN)'s entry into key markets, potentially affecting pricing and customer acquisition. Piper Sandler raised Hims & Hers' price target from $18 to $21, maintaining a Neutral stance, while Needham raised the price target to $28, maintaining a Buy rating.
In terms of corporate governance, Hims & Hers expanded its board of directors and appointed a new independent director, Deb Autor. On the regulatory front, the nomination of Dr. Martin Makary for the FDA commissioner position could potentially impact the company's operations, due to his ties to the industry. These are the recent developments in the company's operations.
InvestingPro Insights
The recent stock transactions by Hims & Hers Health's CFO Okupe Oluyemi come at a time when the company is experiencing significant growth and market attention. According to InvestingPro data, Hims & Hers Health has seen remarkable financial performance, with revenue growth of 56.7% over the last twelve months as of Q3 2024, reaching $1.24 billion. This strong growth is reflected in the company's stock performance, with a staggering 273.24% price return over the past year.
InvestingPro Tips highlight that management has been aggressively buying back shares, which could be seen as a sign of confidence in the company's future prospects. Additionally, net income is expected to grow this year, and the company is trading at a low P/E ratio relative to its near-term earnings growth, suggesting potential value for investors.
However, it's worth noting that Hims & Hers Health is trading at a high earnings multiple, with a P/E ratio of 64.65. This valuation metric, combined with the company's strong recent performance, may explain why insiders like Oluyemi are taking the opportunity to sell some shares while also exercising options.
For investors seeking a more comprehensive analysis, InvestingPro offers 20 additional tips for Hims & Hers Health, providing a deeper understanding of the company's financial health and market position.
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