Hims & Hers health CFO sells $330,081 in stock

SAN FRANCISCO—Okupe Oluyemi, Chief Financial Officer of Hims & Hers Health, Inc. (NYSE:HIMS), recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission. On April 15, Oluyemi sold 11,581 shares of Class A Common Stock in the company, generating proceeds of approximately $330,081. The shares were sold at an average weighted price of $28.502, with individual sale prices ranging from $28.33 to $28.745. According to InvestingPro, the company maintains a GREAT financial health score, with management actively buying back shares.

In addition to the sales, Oluyemi exercised stock options to acquire a total of 6,437 shares at prices ranging from $5.01 to $11.53, resulting in a total transaction value of $41,377. Following these transactions, Oluyemi holds 118,960 shares of Hims & Hers Health.

These transactions were carried out under a pre-established Rule 10b5-1 trading plan, which was adopted on May 31, 2024. This plan allows insiders of publicly traded corporations to set up a trading plan for selling stocks they own, thereby avoiding accusations of insider trading.

In other recent news, Hims & Hers Health, Inc. has been the subject of various analyst reports following new developments in its product offerings and financial projections. BofA Securities maintained an Underperform rating with a $22 price target, highlighting a deceleration in year-over-year sales growth, though first-quarter sales projections remain promising, potentially exceeding the Visible Alpha consensus. Jefferies adjusted its price target for Hims & Hers to $25, maintaining a Hold rating, and noted the company’s strategic shift to branded GLP-1 medications, which could present challenges in customer retention due to high costs.

Truist Securities also maintained a Hold rating with a $39 price target, acknowledging the expansion of Hims & Hers’ weight-loss product range, though they do not expect significant revenue contributions from new offerings like branded Tirzepatide. Leerink Partners held a Market Perform rating with a $40 target, observing the inclusion of Eli Lilly (NYSE:LLY)’s Zepbound and generic liraglutide as a move to expand the customer base, though they remain cautious about the long-term growth potential in the weight loss segment. BofA Securities reiterated that the addition of Zepbound may not significantly impact sales due to low expected margins and high consumer prices compared to alternatives.

The company’s strategy to offer more treatment options, such as generic liraglutide, was noted by BofA Securities as potentially more relevant for future market success. Analysts from various firms express differing levels of optimism and caution regarding Hims & Hers’ ability to achieve its financial targets, particularly concerning its weight loss products. These developments have sparked interest and scrutiny from investors and analysts alike, as Hims & Hers continues to navigate the competitive landscape of digital health and wellness.

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