Michael Chi, Chief Marketing 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 a price of $24.62 per share, for a total of $50,594. This transaction was part of a trading plan previously established under Rule 10b5-1, which was approved on March 1, 2024.
In addition, Chi exercised a stock option to acquire 2,055 shares at a price of $11.53 per share, which amounts to $23,694. Following this transaction, Chi directly owns 193,601 shares of Hims & Hers Health. Stock options exercised are subject to a service-based schedule, with 1/48 of the options vesting monthly beginning April 1, 2023.
In other recent news, Hims & Hers Health has been making strides in the field of digital health. Needham & Company named Hims & Hers their top pick for 2025, raising their price target for the company's shares to $31. This restructuring highlights the company's growth potential, emphasizing its various growth strategies such as personal product adoption and an expanding range of weight loss solutions.
In addition, Hims & Hers Health reported a 77% year-over-year increase in Q3 sales, exceeding $400 million, and estimated revenue for Q4 2024 between $465 million and $470 million. However, the company's shares fell sharply by 15% after the FDA's resolution of the shortage of the tirzepatide vaccine, which could reshape the market power 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 consumer direct sectors. Despite potential volatility, the firm recommends an investment case with a risk-reward profile. Additionally, Hims & Hers Health announced a partnership with Eli Lilly (NYSE: ) to streamline access to FDA-approved obesity medication Zepbound.
This development underscores Hims & Hers Health's commitment to growth and innovation in the digital health sector. However, the company's future also depends on the FDA's potential leadership relationship and the agency's stance on the integration of GLP-1 products.
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