Hims & hers health chief legal officer sells shares worth over $47,000

In a recent transaction, Boughton Soleil, the Chief Legal Officer of Hims & Hers Health, Inc. (NYSE:HIMS), sold 2,335 shares of the company's Class A Common Stock. The sale was conducted at a price of $20.28 per share, totaling approximately $47,353.

The transaction, which took place on July 9, 2024, was executed under a prearranged trading plan. Such plans, known as Rule 10b5-1 trading plans, are established by corporate insiders to sell shares over a predetermined period of time, allowing them to trade their company's stock in a pre-determined manner that is compliant with insider trading laws.

Following the sale, Soleil's ownership in the company now amounts to 169,144 shares of Class A Common Stock, directly held. This transaction was publicly disclosed as required by the U.S. Securities and Exchange Commission for all trades made by company insiders.

Investors often monitor insider transactions as they can provide insights into an insider's perspective on the company's current valuation and future prospects. However, it's important to note that trading under a 10b5-1 plan typically reflects decisions made well before the transaction date and may not necessarily indicate the insider's current view on the stock.

Hims & Hers Health, Inc., based in San Francisco, operates in the healthcare sector, focusing on providing services through offices and clinics of doctors of medicine.

In other recent news, Hims & Hers Health, Inc. has been the subject of several analyst updates. BofA Securities raised its price target for the company twice, citing promising growth prospects and the successful launch of the GLP-1 product. The firm indicated that this product could potentially add significant revenue to the company's earnings. Meanwhile, Canaccord Genuity also increased its price target following the introduction of a new addition to Hims & Hers' weight loss treatment options.

However, not all updates were positive. Citi revised its stance on Hims & Hers, downgrading the company to Neutral due to potential regulatory and legal risks associated with the GLP-1 program, despite raising the price target. Truist Securities maintained a Hold rating on Hims & Hers' shares, keeping the price target steady, even after the company announced an expansion of its weight loss program.

These are the recent developments surrounding Hims & Hers, providing investors with a diverse range of insights from different analyst firms.

InvestingPro Insights

As Hims & Hers Health, Inc. (NYSE:HIMS) continues to navigate the healthcare market, recent transactions by company insiders have caught the attention of investors. In light of these developments, a glance at some key InvestingPro Data metrics may offer additional context. Hims & Hers Health has demonstrated robust revenue growth over the last twelve months as of Q1 2024, with an impressive 55.65% increase. This performance is further underscored by a substantial EBITDA growth of 109.92% during the same period. Despite these strong growth figures, the company's P/E Ratio stands at a striking -1860, reflecting challenges in profitability.

Turning to InvestingPro Tips, two analysts have recently revised their earnings upwards for the upcoming period, suggesting a positive outlook on the company's earnings potential. Additionally, analysts predict that the company will be profitable this year, which could signal a turning point for Hims & Hers Health in terms of financial performance. With a market capitalization of $4.44 billion USD, the company has also been trading at a high Price / Book multiple of 12.79, indicating that investors may be valuing the company's assets favorably.

For those interested in a deeper analysis, InvestingPro offers further insights into Hims & Hers Health, Inc. There are 13 additional InvestingPro Tips available for investors who wish to gain a more comprehensive understanding of the company's financial health and market position. To access these tips and enhance your investment strategy, visit https://www.investing.com/pro/HIMS and consider using the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.

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