SAN FRANCISCO—Patrick Harrison Carroll, the Chief Medical (TASE:PMCN) Officer of Hims & Hers Health, Inc. (NYSE:HIMS), has sold 15,000 shares of the company's Class A common stock, according to a recent filing with the Securities and Exchange Commission. The shares were sold at an average price of $22.0729, resulting in a total transaction value of $331,093.
The filing indicates that the shares were sold at varying prices within the range of $22.05 to $22.11. Following this transaction, Carroll retains ownership of 196,941 shares in the company.
In other recent news, Hims & Hers Health, Inc. reported a 77% year-over-year increase in third-quarter sales, surpassing $400 million. The company's adjusted EBITDA also showed significant growth, reaching over $50 million, indicating a healthy 13% margin. Piper Sandler, Needham, TD Cowen, Citi, Truist Securities, and BofA Securities have all updated their outlooks on the company, reflecting confidence in its growth trajectory.
Piper Sandler raised its target to $21, while Needham increased its target to $28, both citing the company's strong performance and growth. TD Cowen maintained a positive stance, reiterating a Buy rating and a $25 price target. Citi lifted its share price target to $24, and Truist Securities reiterated a Hold rating with a steady price target of $23. BofA Securities increased its price target to $27.
Hims & Hers also announced plans to increase marketing expenditures in Q4 and to launch liraglutide, the first generic GLP-1, in 2025. The company is forecasting Q4 2024 revenue between $465 million and $470 million, marking an 89% to 91% year-over-year increase. The full-year revenue is projected to be between $1.46 billion and $1.465 billion, reflecting a 67% to 68% increase. These are recent developments in the company's operations.
InvestingPro Insights
While Patrick Harrison Carroll's recent sale of 15,000 shares might raise eyebrows, it's essential to consider the broader financial picture of Hims & Hers Health, Inc. (NYSE:HIMS). According to InvestingPro data, the company's revenue growth has been impressive, with a 56.7% increase in the last twelve months as of Q3 2024. This robust growth is further emphasized by a quarterly revenue growth of 77.13% in Q3 2024, indicating strong momentum in the company's business model.
InvestingPro Tips highlight that net income is expected to grow this year, and the company has been profitable over the last twelve months. This positive outlook is supported by four analysts revising their earnings upwards for the upcoming period. These factors suggest that despite the insider sale, the company's financial health remains strong.
The stock's performance has been noteworthy, with a 236.01% price total return over the past year. This significant appreciation aligns with another InvestingPro Tip indicating a high return over the last year. However, investors should note that HIMS is trading at a high P/E ratio of 50.51, which may suggest the stock is priced at a premium relative to its earnings.
For those interested in a deeper analysis, InvestingPro offers 18 additional tips for HIMS, providing a more comprehensive view of the company's financial position and market performance.
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