Hims & Hers may not be hurt by GLP-1 news the way investors think.
These top stocks are on a winning streak and have the businesses to keep it going.
Shares of Hims & Hers Health (HIMS) sank Thursday after the Food and Drug Administration (FDA) said Eli Lilly's (LLY) popular weight-loss treatments, Mounjaro and Zepbound, were no longer on its list of drugs in short supply.
Hims & Hers (NASDAQ: HIMS) stock has done well since the company went public a few years ago. It has soared by over 193% in the last 12 months and by 112% this year, outperforming the benchmark Nasdaq 100 and S&P 500 indices and other companies in the healthcare industry.
Hims & Hers Health (HIMS) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Hims & Hers stock is currently in the middle of a deep drawdown, with HIMS stock nearly 35% off of its recent highs. However, the telehealth platform company remains a fundamentally sound business and is getting stronger by broadening its diversified weight loss offering through the addition of compounded GLP-1s. As of Q2, Hims & Hers is delivering top-line hypergrowth, and turning into an FCF machine.
Hims & Hers is a fantastic value despite its high 'on-the-surface' P/E ratio and valuation metrics. The company's subscription-based model in healthcare, targeting chronic conditions, ensures recurring revenue and high customer retention, leading to consistent revenue growth. High gross margins lead to incredible operating leverage, and we see net income increasing from $15 million to more than $600 million in the next 24 months.
The latest trading day saw Hims & Hers Health, Inc. (HIMS) settling at $16.44, representing a +0.86% change from its previous close.
U.S. telehealth company Hims & Hers Health on Wednesday said it will sell compounded versions of Novo Nordisk's popular weight-loss drug Wegovy to patients in certain professions for $99 a month.
Buying a new pharmacy will allow Hims & Hers to expand into new markets.
This telemedicine company seems to leapfrog from one hot area in healthcare to another. Its strategy of acquiring members and turning them into paid subscribers is promising.
Hims & Hers Health, Inc. (HIMS) closed the most recent trading day at $16.28, moving -1.75% from the previous trading session.