Michael Chi, Chief Commercial Officer of Hims & Hers Health, Inc., reported: (NYSE:), announced a significant transaction involving the company's stock. On January 24, CHI sold 17,304 shares of Class A common stock at an average price of $31 per share, for a total of $536,424.
In addition to the sale, CHI exercised stock options to acquire 17,304 shares at $5.01 per share, for a total value of $86,693. These transactions were conducted under a Rule 10B5-1 trading plan, which CHI adopted on March 1, 2024.
After these transactions, Chi's direct ownership of Hers and Hers Health amounts to 193,601 shares.
In other recent news, Hims & Hers Health, Inc. Strong financial health, with the company reporting a 77% year-over-year increase in third-quarter sales, exceeding $400 million, and adjusted EBITDA of more than $50 million. Revenue forecasts for Q4 2024 range between $465 million and $470 million, indicating a significant year-over-year increase. However, the company faces ongoing challenges with its combination GLP-1 products due to aggressive defense tactics by drug manufacturers, particularly Novo Nordisk (NYSE:), BOFA Securities explained.
Despite these challenges, Hims & Hers Health has received positive feedback from many analysts. BTIG initiated coverage with a Buy rating and $35.00 price target, citing strong revenue growth, particularly in the GLP-1 and Obesity health product categories. Needham & Company raised its price target on Hims & Hers and placed it as a top pick for 2025 due to the company's diverse growth avenues.
Morgan Stanley (NYSE:) also initiated coverage on Hims & Hers with an Overweight rating, recognizing its potential in the digital health and direct-to-consumer sectors. The company's recent partnership with Eli Lilly (NYSE:) to simplify access to an FDA-approved obesity drug was also noted. These latest developments reflect Hims & Hers' ongoing efforts to navigate the dynamic health services market.
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