Michael Chi, Chief Commercial Officer of Hims & Hers Health, Inc. (NYSE:HIMS), recently sold shares of the company, according to a filing with the Securities and Exchange Commission. On January 2, Chi sold 2,055 shares of Class A common stock at $24.62 per share, for a total of $50,594. This transaction was part of a predetermined trading plan under Rule 10b5-1, which was adopted on March 1, 2024.
In addition, Chi exercised stock options to purchase 2,055 shares at $11.53 per share, amounting to $23,694. Following these transactions, Chi directly owns 193,601 shares of Hims & Hers Health. Stock options exercised are subject to a service-based vesting schedule, with 1/48 of the options vesting monthly beginning April 1, 2023.
In other recent news, Hims & Hers Health is making significant inroads into the digital health sector. Needham & Company made Hims & Hers their 2025 top pick, raising their price target on the company’s stock to $31. This adjustment highlights the company’s growth potential, with emphasis on its various avenues for growth, such as the adoption of personalized products and an increasing variety of weight loss solutions.
Additionally, Hims & Hers Health reported a 77% year-over-year increase in sales in the third quarter, topping $400 million, and forecasts fourth quarter 2024 revenue of between $465 million and $470 million. However, the company’s shares fell sharply by 15% after the FDA’s decision on the shortage of tirzepatide injections, which could reshape the market dynamics of obesity drugs.
On the other hand, Morgan Stanley (NYSE: ) initiated coverage on Hims & Hers Health with an Overweight rating, citing its strong performance in the digital health and direct-to-consumer sectors. Despite the potential volatility, the company suggests the investment case has a favorable risk-reward profile. Additionally, Hims & Hers Health announced a partnership with Eli Lilly (NYSE: ) to streamline access to the FDA-approved obesity drug Zepbound.
These developments underscore Hims & Hers Health’s commitment to growth and innovation in the digital health sector. However, the company’s future also hinges on potential ties to FDA leadership and the agency’s stance on compound GLP-1 products.
This article was generated with the help of AI and reviewed by an editor. See our T&C for more information.
