Hims & Hers Health: growth title in telemedicine with explosive revenue growth
Hims & Hers Health $HIMS is one of the fastest-growing stocks of 2024, with its expansion into the weight-loss injections (GLP-1) segment and aggressive marketing strategy driving its stock up 150%.
1. Rocketing revenue growth
- Q1: +46% | Q2: +52% | Q3: +72%
- Expected growth for Q4: up to 90%
-Demand for telemedicine services is growing and $HIMS is expanding its offerings.
2. Weight loss boom (GLP-1)
- The company makes reformulated copies of weight loss injections from Novo Nordisk (Ozempic) and Eli Lilly (Mounjaro).
- With a more affordable alternative, it is rapidly gaining market share.
- Telemedicine allows easy access to these drugs, increasing the customer base.
3. Aggressive marketing and public support
- Advertising during the Super Bowl drew attention to the high prices of traditional pharmaceutical giants.
- The media and consumers responded positively, which increased brand awareness.
Investment view
Hims & Hers Health $HIMS combines strong growth, expansion into the lucrative GLP-1 market and effective marketing. If the company maintains its current growth rate and strengthens its position in telemedicine, its stock could still be an interesting investment opportunity.
The key risk? Potential regulation in the reformulated weight-loss drug space. But if the company finds a way to offer them long-term, its market value could still rise significantly.
- 25% is already a solid drop, but it may be a good time to buy.
I didn't even know about this company, but the growth surprised me. There are some risks, but the company should still do well.
$HIMS is growing quite significantly now. I have the stock on my watchlist, but unfortunately I didn't catch the good prices.