Michael Chi, the Chief Commercial Officer of Hims & Hers Health, Inc. (NYSE:HIMS), recently sold a portion of his holdings in the company. According to a recent SEC filing, Chi sold 2,054 shares of Class A Common Stock on November 5, 2024, at a price of $22 per share, totaling approximately $45,188.
In addition to the sale, Chi exercised stock options to acquire 2,054 shares at a price of $11.53 per share, valued at $23,682. These transactions were conducted under a Rule 10b5-1 trading plan established on March 1, 2024. Following these transactions, Chi's direct ownership of Hims & Hers stock now stands at 193,980 shares.
The company, headquartered in San Francisco, provides telehealth and wellness services, and the stock is traded on the New York Stock Exchange.
In other recent news, Hims & Hers Health, Inc. has been the subject of significant attention from financial analysts, following a robust performance in its third-quarter earnings. The company reported a 77% year-over-year increase in sales, surpassing $400 million, and an adjusted EBITDA of over $50 million. This performance has led to several firms revising their price targets for the company, including Piper Sandler raising its target to $21, Needham to $28, TD (TSX:TD) Cowen maintaining a $25 target, Citi increasing to $24, and BofA Securities to $27.
These changes reflect the company's strong growth, particularly from its GLP-1 program, a treatment for weight loss, and a 40% increase in core subscribers. Hims & Hers also announced plans to increase marketing expenditures in Q4 and to launch liraglutide, the first generic GLP-1, in 2025.
The company is forecasting Q4 2024 revenue between $465 million and $470 million, marking an 89% to 91% year-over-year increase. The full-year revenue is projected to be between $1.46 billion and $1.465 billion, reflecting a 67% to 68% increase. These are all recent developments in the company's operations.
InvestingPro Insights
Recent data from InvestingPro sheds light on Hims & Hers Health's (NYSE:HIMS) impressive performance and growth trajectory. The company's revenue growth has been remarkable, with a 56.7% increase over the last twelve months as of Q3 2024, reaching $1.24 billion. This strong growth is further emphasized by a quarterly revenue growth of 77.13% in Q3 2024, indicating accelerating momentum.
Profitability metrics are also encouraging. The company boasts a healthy gross profit margin of 81.13% and has turned profitable over the last twelve months. An InvestingPro Tip highlights that net income is expected to grow this year, which aligns with the company's positive trajectory.
The market has taken notice of Hims & Hers' performance, with the stock showing significant returns across various timeframes. The 1-year price total return stands at an impressive 236.01%, while the year-to-date return is 163.15%. This strong performance is reflected in another InvestingPro Tip, which notes the company's high return over the last year.
For investors seeking more comprehensive insights, InvestingPro offers 18 additional tips for Hims & Hers Health, providing a deeper understanding of the company's financial health and market position.
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