Irene Becklund, the Principal Accounting Officer at Hims & Hers Health, Inc. (NYSE:HIMS), recently executed a series of stock transactions, according to a Form 4 filing with the Securities and Exchange Commission. On October 16, Becklund sold 471 shares of Class A Common Stock, generating a total of $10,663 at a price of $22.64 per share.
In addition to the sale, Becklund acquired 471 shares through a stock option exercise at a price of $9.41 per share, totaling $4,432. These transactions were conducted under a Rule 10b5-1 trading plan adopted on September 11, 2023. Following these transactions, Becklund holds 5,116 shares of Hims & Hers Health.
In other recent news, Hims & Hers Health, Inc. has reported significant developments. The company recently experienced a 52% year-over-year revenue increase in Q2 2024, reaching $316 million, with an adjusted EBITDA of $39 million. In addition, Hims & Hers issued 976,341 Class A common shares to Nivagen Pharmaceuticals, Inc., as part of the acquisition of MedisourceRx, which expands its product offerings and market reach.
On the regulatory front, the U.S. Food and Drug Administration (FDA) has decided to reassess the availability of tirzepatide, a drug previously on the agency's shortage list. This decision was prompted by a lawsuit from the Outsourcing Facilities Association, which argued that the drug was still in short supply.
Analysts have responded to these developments with varying ratings. BofA Securities has raised its price target for Hims & Hers from $20.00 to $23.00 and maintained a Buy rating. Truist Securities, on the other hand, has maintained a Hold rating. Canaccord Genuity (TSX:CF) sustained its Buy rating on the company's shares, highlighting the potential of its compounded GLP-1 medications amid rising obesity trends.
These are among the recent developments for Hims & Hers, offering insights for investors into the company's performance and regulatory landscape.
InvestingPro Insights
The recent stock transactions by Irene Becklund, Principal Accounting Officer at Hims & Hers Health, Inc. (NYSE:HIMS), reflect a dynamic period for the company's stock. According to InvestingPro data, HIMS has experienced a significant return over the last week, with a 21.73% price total return. This short-term surge is part of a broader trend, as the stock has shown a remarkable 263.06% price total return over the past year.
The company's financial performance appears robust, with revenue growth of 50.15% in the last twelve months as of Q2 2024, reaching $1.07 billion. This growth is complemented by a strong gross profit margin of 82.19%, indicating efficient cost management.
InvestingPro Tips highlight that management has been aggressively buying back shares, which often signals confidence in the company's future prospects. Additionally, analysts predict that the company will be profitable this year, a positive indicator for investors considering the stock's current high earnings multiple.
It's worth noting that while the stock has shown strong performance, it is trading at a high Price / Book multiple of 13.37, which may suggest the stock is relatively expensive compared to its book value. This aligns with another InvestingPro Tip indicating that the stock is trading at high EBIT and EBITDA valuation multiples.
For investors seeking a more comprehensive analysis, InvestingPro offers 16 additional tips for HIMS, providing a deeper understanding of the company's financial health and market position.
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