SAN FRANCISCO—Boughton Soleil, the Chief Legal Officer of Hims & Hers Health, Inc. (NYSE:HIMS), has sold a portion of the company's Class A common stock, according to a recent filing with the Securities and Exchange Commission. The transaction, which occurred on November 12, involved the sale of 2,338 shares at a price of $26.46 each, totaling approximately $61,863.
Following the sale, Soleil retains ownership of 167,597 shares in the company. The transaction was executed under a Rule 10b5-1 trading plan, which was adopted on September 10, 2023. This plan allows company insiders to set up a predetermined schedule for selling stocks, providing an opportunity to avoid potential conflicts of interest.
Hims & Hers Health, known for its telehealth services, continues to be a significant player in the healthcare industry, offering a range of medical consultations and treatments online. The recent stock sale by an executive is part of routine financial management and does not necessarily reflect the company's current performance or future prospects.
In other recent news, Hims & Hers Health, Inc. demonstrated robust financial performance with a 77% year-over-year increase in third-quarter sales, surpassing $400 million. Their adjusted EBITDA also grew significantly, reaching over $50 million, indicating a healthy 13% margin. 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.
Piper Sandler, Needham, TD Cowen, Citi, Truist Securities, and BofA Securities have all updated their outlooks on the company. Piper Sandler raised the price target to $21, Needham to $28, TD Cowen maintained a $25 target, Citi increased its target to $24, and BofA Securities to $27, with Truist Securities maintaining a steady target of $23.
The company also reported plans to increase marketing expenditures in Q4 and to launch liraglutide, the first generic GLP-1, in 2025. These recent developments reflect the company's strong growth and promising future, with a focus on expanding its offerings and reaching a broader customer base.
InvestingPro Insights
While Boughton Soleil's recent stock sale might catch investors' attention, it's important to consider the broader financial picture of Hims & Hers Health. According to InvestingPro data, the company has shown remarkable growth, with revenue increasing by 56.7% over the last twelve months to $1.24 billion. This strong performance is reflected in the stock's impressive 281.29% return over the past year.
InvestingPro Tips highlight that Hims & Hers Health is expected to see net income growth this year, and analysts have revised their earnings estimates upwards for the upcoming period. These positive indicators suggest that the company's telehealth services continue to gain traction in the market.
However, investors should note that the stock is trading at a high P/E ratio of 59.2, which may indicate that the market has already priced in much of the company's growth potential. This valuation metric should be considered alongside the company's strong revenue growth and improving profitability.
For those interested in a deeper analysis, InvestingPro offers 18 additional tips for Hims & Hers Health, providing a more comprehensive view of the company's financial health and market position.
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