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SAN FRANCISCO – Hims & Hers Health, Inc. (NYSE:HIMS) reported a recent transaction involving the company's Principal Accounting Officer (PAO), Becklund Irene, who sold shares in the company. The transaction was carried out pursuant to a Rule 10b5-1 trading plan previously adopted on September 11, 2023.
According to the filed report, on August 16, 2024, Irene Becklund sold a total of 472 shares of Class A Common Stock at an average price of $15.66 per share, amounting to a total sale value of $7,391. This transaction led to a decrease in Becklund's direct ownership of the company's shares, which followed an option exercise on the same date.
Earlier that day, Becklund had exercised options to acquire 472 shares of the company's Class A Common Stock at a price of $9.41 per share, costing a total of $4,441. It's important to note that the shares acquired through the option exercise were immediately sold, and the transactions were made in accordance with a pre-arranged trading plan.
The stock options involved in the transaction are part of a compensation arrangement that includes vesting in forty-eight successive equal monthly installments, which began on February 16, 2021, and are contingent on Becklund's continuous service with Hims & Hers Health.
Following the sale, Becklund's ownership in the company was adjusted to reflect the new total of 2,913 Class A Common Stock shares held directly. Additionally, after the exercise of the stock options, Becklund directly owns 1,887 shares of stock options that remain exercisable until December 22, 2030.
Investors often monitor the buying and selling activities of company insiders for insights into a company's potential direction. The transactions by Hims & Hers Health's PAO provide the latest data point for those tracking insider behavior at the company.
In other recent news, Hims and Hers Health Inc. has been the subject of various analyst adjustments. Jefferies lowered the company's price target to $18, maintaining a Hold rating, citing the need to update their financial model after the company's second-quarter results. On the other hand, Deutsche Bank raised its price target for Hims and Hers to $23, also retaining a Hold rating, due to the company's growth prospects.
Hims and Hers reported a 52% year-over-year increase in Q2 revenue to $316 million, with an adjusted EBITDA of $39 million. The company also saw significant user growth, adding nearly 155,000 new users, bringing the total subscriber count to 1.9 million. Furthermore, Hims and Hers announced the acquisition of an FDA-registered 503(b) facility, which is expected to enhance its supply chain capabilities.
The company's weight management specialty reached a $100 million annual revenue run rate within its first year. Looking forward, Hims and Hers plans to continue investing in technologies like AI and machine learning to enhance personalized care and outcomes. The company projected its 2024 revenue to be between $1.37 billion and $1.4 billion, with an adjusted EBITDA between $140 million and $155 million.
InvestingPro Insights
The recent insider transaction at Hims & Hers Health, Inc. (NYSE:HIMS) coincides with an interesting backdrop of company performance and market valuation. According to InvestingPro data, Hims & Hers currently has a market capitalization of $3.59 billion. Despite the insider sale, the company's stock has experienced significant growth, with a one-year price total return of 128.78% as of the last update. This indicates strong investor confidence and a robust performance over the past year.
From a valuation standpoint, Hims & Hers is trading at a high earnings multiple, with a P/E ratio of 195.76 and an adjusted P/E ratio for the last twelve months as of Q2 2024 at 172.77. This suggests that the market has high expectations for the company's future earnings potential. Additionally, the company's revenue growth has been impressive, with a 50.15% increase over the last twelve months as of Q2 2024, underscoring its potential for continued expansion.
InvestingPro Tips highlight that management has been actively buying back shares, which can be a signal of their confidence in the company's value. Furthermore, analysts have revised their earnings upwards for the upcoming period, indicating positive sentiment about the company's financial prospects. Currently, there are over 15 additional InvestingPro Tips available for Hims & Hers Health, offering deeper insights for investors considering the stock.
For investors looking to understand the potential trajectory of Hims & Hers Health, these metrics and additional InvestingPro Tips available at https://www.investing.com/pro/HIMS can provide valuable context and inform investment decisions.
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