Why Is Hims & Hers Health Stock Trading Lower On Wednesday?

Hims & Hers Health, Inc. HIMS stock is trading lower on Wednesday, with a session volume of 7.7 million compared to the average volume of 19.34 million, as per data from Benzinga Pro.

What Happened: On Wednesday, Novo Nordisk A/S NVO introduced NovoCare Pharmacy, a direct-to-patient delivery service to improve access to Wegovy (semaglutide) for cash-paying patients.

The program offers all dosage strengths of the weight-loss medication at a reduced price of $499 per month for uninsured individuals or those whose insurance does not cover obesity treatments.

Also Read: Hims & Hers Health Analyst Sees Buying Opportunity Following Steep Selloff: ‘We See No Reason To Change Our View’

In February, Hims & Hers Health reported fourth-quarter revenue of $481.14 million, beating estimates of $470.31 million.

The company reported fourth-quarter earnings of 11 cents per share, in line with analyst estimates.

Total revenue was up 69% year over year, and subscribers grew to 2.2 million in the quarter, up 45%.

The stock fell more than 20% after the U.S. Food and Drug Administration removed semaglutide injections from the shortage list. Hims & Hers said that its GLP-1 offering brought in over $225 million in revenue in 2024.

Price Action: HIMS stock is down 5.98% at $38.07 at the last check Wednesday.

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