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SAN FRANCISCO—Hims & Hers Health, Inc. (NYSE:HIMS) Chief Financial Officer Okupe Oluyemi recently executed a series of stock transactions, according to a recent SEC filing. On April 2, Oluyemi sold 11,581 shares of Class A common stock at an average price of $29.2577 per share, totaling approximately $338,833.
The transactions were conducted under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stocks. This sale was part of a broader transaction that also included the exercise of stock options.
Oluyemi exercised options to acquire 6,437 shares of Class A common stock at a price of $5.01 per share, totaling $32,249. Following these transactions, Oluyemi retains direct ownership of 124,104 shares of the company.
These activities are part of routine financial planning and portfolio management by company executives. Investors often monitor such transactions to gauge insider sentiment about the company’s future prospects.
In other recent news, Hims & Hers Health Inc. announced the expansion of its pharmaceutical offerings by adding Eli Lilly (NYSE:LLY)’s diabetes and weight-loss drug, Zepbound, and a generic version of liraglutide to its telehealth platform. This move aims to provide more treatment options for customers and aligns with the industry’s trend of increasing drug accessibility online. Analysts from BofA Securities, however, maintained an Underperform rating with a $22.00 price target, expressing skepticism about the material impact of Zepbound on the company’s financials due to its high price point and lower expected margins. Meanwhile, Truist Securities maintained a Hold rating with a $39.00 price target, noting the expansion into weight-loss treatments as a positive development, albeit not a significant revenue driver. Leerink Partners also maintained a Market Perform rating with a $40.00 price target, emphasizing the need to assess the long-term growth potential of the weight-loss segment. The addition of these products positions Hims & Hers alongside competitors like Teladoc (NYSE:TDOC) and LifeMD, as the company seeks to capture market share in the expanding digital health space. The stock’s positive response to these announcements reflects investor optimism, although analysts remain cautious about the long-term impact. The focus on providing both branded and generic options underscores Hims & Hers Health’s strategy to meet consumer demand and enhance its competitive position.
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