Hims & Hers health director sells $106k in company stock

San Francisco, CA – In a recent transaction on August 27, 2024, Christiane Pendarvis, a director at Hims & Hers Health, Inc. (NYSE:HIMS), sold 7,000 shares of the company's Class A Common Stock at an average price of $15.152 per share, totaling approximately $106,064.

The sale was disclosed in a regulatory filing with the Securities and Exchange Commission. Following the transaction, Pendarvis's ownership in the company stands at 23,917 shares of Class A Common Stock.

Hims & Hers Health, Inc., headquartered in San Francisco, operates within the healthcare sector, providing services through offices and clinics of doctors of medicine. The company, formerly known as Oaktree Acquisition Corp., has been incorporated in Delaware and is known for its telehealth and wellness products.

Investors often monitor insider transactions as they may provide insights into the company's performance and insider perspectives on the stock's value. The recent sale by a director of Hims & Hers Health, Inc. represents a notable change in the insider's stake in the company.

The transaction was signed off by Alexandra Cotter Wilkins, Attorney-in-Fact, on August 28, 2024. As of now, there have been no further remarks or footnotes provided regarding the context of this sale.

In other recent news, Hims & Hers Health, Inc. has reported robust growth in its second quarter of 2024, with a 52% year-over-year increase in revenue, reaching $316 million, and an adjusted EBITDA of $39 million. The company also added nearly 155,000 new users, bringing its total subscriber count to 1.9 million. Citi has reaffirmed its Neutral rating for Hims & Hers Health, while Needham initiated coverage with a Buy rating. However, Jefferies has lowered its price target for the company to $18, citing the need to update their financial model. On the other hand, Deutsche Bank raised its target to $23, noting the company's growth prospects. These recent developments are part of the company's ongoing efforts to expand its offerings and reach a wider patient demographic.

InvestingPro Insights

Amidst the recent insider transaction at Hims & Hers Health, Inc. (NYSE:HIMS), investors are keen to understand the financial health and market performance of the company. With a market capitalization of $3.18 billion and a notable revenue growth of 50.15% over the last twelve months as of Q2 2024, Hims & Hers Health is demonstrating robust top-line performance in the competitive healthcare sector. This growth momentum is further emphasized by a quarterly revenue growth of 51.82% in Q2 2024.

However, the company trades at a high earnings multiple, with a Price/Earnings (P/E) ratio of 173.29, which adjusted for the last twelve months as of Q2 2024, stands at 153.26. This suggests a premium valuation, which is also reflected in the Price/Book ratio of 8.81. Such valuation metrics indicate that investors have high expectations for the company's future earnings and are willing to pay a significant amount for each dollar of Hims & Hers Health's current earnings.

Despite recent volatility in the stock price, including a one-week total return of -10.44%, the company has delivered a high return over the last year, with a one-year price total return of 116.64%. This could signal confidence among long-term investors in the company's growth trajectory. Additionally, the InvestingPro Tips highlight that management has been aggressively buying back shares, and analysts have revised their earnings upwards for the upcoming period, suggesting potential optimism about the company's future performance.

For those interested in a deeper analysis, there are 15 additional InvestingPro Tips available for Hims & Hers Health, Inc. at https://www.investing.com/pro/HIMS, which provide further insights into the company's valuation, profitability, and analysts' predictions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.