SAN FRANCISCO—Okupe Oluyemi, Chief Financial Officer of Hims & Hers Health, Inc. (NYSE:HIMS), recently sold approximately $285,783 worth of company stock, according to its most recent filing with the SEC. The transactions, executed on January 2, 2025, involved the sale of 11,581 shares at an average price of $24.6632 to $24.7115 per share.
In addition to the sale, Oluyemi exercised stock options to purchase 6,437 shares at $5.01 per share. After these transactions, Oluyemi holds a total of 123,221 shares in the company.
These transactions were executed under a predetermined 10b5-1 trading plan, which allows insiders to set a predetermined schedule for buying or selling company stock.
In other recent news, Hims & Hers Health is making significant inroads into the digital health sector. Needham & Company identified Hims & Hers as their top pick for 2025 due to its upside potential, raising their price target on the company’s stock to $31. This confidence was further cemented by Needham’s addition of the company to their convict list.
In contrast, the FDA’s resolution of the tirzepatide injection shortage sent Hims & Hers shares down 15%. The decision could change the market dynamics of obesity drugs, affecting companies like Hims & Hers that have been offering compounded versions of such drugs.
As for analysts, Morgan Stanley (NYSE: ) initiated coverage on Hims & Hers with an Overweight rating, citing its growth potential and strong performance in the digital health and direct-to-consumer sectors. However, BofA Securities cut Hims & Hers from Buy to Underperform due to Amazon’s (NASDAQ: ) entry into key markets.
Hims & Hers also reported a 77% year-over-year sales increase in the third quarter, surpassing $400 million, with adjusted EBITDA of over $50 million. The company forecast fourth-quarter 2024 revenue of between $465 million and $470 million, up 89% to 91% year-over-year, and full-year revenue is expected to be between $1.46 billion and $1.465 billion.
Lastly, Hims & Hers announced a partnership with Eli Lilly (NYSE: ) to streamline access to the FDA-approved obesity drug Zepbound. Meanwhile, digital health company Ro also announced a similar collaboration with Eli Lilly, sending Hims & Hers shares down 4% in pre-market trading.
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