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SAN FRANCISCO—Michael Chi, the Chief Commercial Officer of Hims & Hers Health, Inc. (NYSE:HIMS), recently executed a sale of 7,259 shares of the company’s Class A common stock. The shares were sold at a price of $43.28 each, amounting to a total transaction value of approximately $314,169.
On the same day, Chi also exercised stock options to acquire an equivalent number of shares at a price of $6.82 per share, totaling $49,506. These transactions were conducted under a Rule 10b5-1 trading plan, which Chi adopted on March 1, 2024. Following these transactions, Chi holds 193,601 shares in the company.
The stock options exercised are subject to a service-based vesting schedule, which began in September 2022 and continues monthly thereafter.
In other recent news, Hims & Hers Health has been in the spotlight due to a series of developments. The company’s Super Bowl advertisement for its weight loss product gained traction, resulting in a significant increase in web traffic, according to Craig-Hallum analyst Alex Furhman. Despite facing criticism over the advertisement from the Pharmaceutical (TADAWUL:2070) Research and Manufacturers of America and two US senators, Hims & Hers Health defended its approach, emphasizing its commitment to providing affordable healthcare.
On the analyst front, BofA Securities maintained an Underperform rating on Hims & Hers Health due to concerns about future challenges from pharmaceutical manufacturers. In contrast, BTIG initiated coverage on the company with a Buy rating, highlighting strong demand for its offerings and anticipating robust revenue growth. Needham & Company also expressed a positive outlook, raising its price target on Hims & Hers Health and positioning the company as their top pick in the digital health sector for 2025.
These developments reflect the diverse perspectives and expectations surrounding Hims & Hers Health. The company’s strategic focus on weight loss solutions, along with its innovative business model and robust growth potential, continue to draw attention from both investors and analysts. As these recent events unfold, the future trajectory of Hims & Hers Health remains a point of interest.
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