Shares Hims & Hers Health Inc (NYSE: HIMS) Fly higher on Wednesday. As of 2:00 p.m. ET, the company’s stock rose 21.7% and increased 24.8% earlier in the day. The harvest is here S&P 500 Obtained 0.1%, Nasdaq Composite Materials It’s flat.
Hims & Hers, the leading telemedicine platform, announced today that it plans to introduce at-home testing to its clients after obtaining a new lab.
The company acquired Trybe Labs, a home testing facility in New Jersey. These facilities will allow Hims to test blood samples sent by mail. The company said at-home testing “will give customers the ability to control their health with deeper insights” and “help determine the risk of the disease before it develops.”
The test will help Hims and her more easily provide more treatments, supplements and medications for diseases that need to be diagnosed with blood tests, eliminating the need for clients to visit blood labs.
Removing this friction may lead to customer growth and a higher treatment rate of “high impact” – Read: Profitable – Clinical categories (such as low testosterone and menopause).
Hims & her stock has been running, growing more than 600% last year. The company is firing on all cylinders and seems to have proven the model’s work. However, there is reason to be cautious. The stock price is 160, and the stock is expensive. Given its current growth mode, this valuation is not entirely unreasonable, but this growth is at risk of a significant slowdown.
Currently, HIMS and her other telemedicine companies are able to sell compounded GLP-1 drugs to patients – essentially a common version of drugs like Ozempic. Here is the capture amount: these drugs are still patented. The FDA allows Hims and its competitors to do this temporarily due to shortages, and this critical revenue stream is likely to disappear in the near future.
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