SAN FRANCISCO—Andrew Dudum, the Chief Executive Officer of Hims & Hers Health, Inc. (NYSE:HIMS), recently reported significant stock transactions, according to a recent SEC filing. On December 16 and 17, Dudum sold shares totaling approximately $6.24 million. The sales were executed at prices ranging from $28.78 to $32.63 per share.
On December 13, Dudum acquired 176,308 shares of Class A Common Stock through the exercise of stock options, which were priced at $2.43 per share. Additionally, the company withheld 97,062 shares valued at $30.02 per share to cover tax obligations related to the vesting of restricted stock units.
The transactions were conducted under a pre-planned trading strategy, as indicated by the Rule 10b5-1 trading plan adopted by Dudum in August 2024. Following these transactions, Dudum holds a direct ownership of 30,710 shares, with additional shares held indirectly through the Dudum Family Community Property Trust.
Hims & Hers Health, Inc. continues to be a key player in the telehealth industry, providing a range of health and wellness solutions.
In other recent news, Hims & Hers Health has seen significant growth and changes. Morgan Stanley (NYSE:) initiated an Overweight rating on the company’s stock, citing a strong investment opportunity due to its impressive revenue growth. The company’s Q3 sales saw a 77% year-over-year increase, surpassing $400 million. Additionally, Hims & Hers Health forecasted Q4 2024 revenue between $465 million and $470 million, marking an 89% to 91% year-over-year increase.
The company recently announced a partnership with Eli Lilly (NYSE:) to streamline access to FDA-approved obesity medication Zepbound. Furthermore, Hims & Hers Health expanded its board of directors, appointing Deb Autor as a new independent director. BofA Securities downgraded the company from Buy to Underperform, while TD Cowen reaffirmed its Buy rating. Piper Sandler and Needham raised their price targets, maintaining Neutral and Buy ratings respectively.
In potential regulatory news, the company could benefit from President-elect Donald Trump’s nominee for the Food and Drug Administration (FDA) commissioner, Dr. Martin Makary, who is currently an executive at Sesame, a telehealth company that sells compounded GLP-1 drugs online. This development could potentially impact the FDA’s stance on the compounding of GLP-1 products, which is crucial for companies like Hims & Hers.
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