Shares of Hims & Hers Health, Inc. (NASDAQ:HIMS) are trending Thursday morning. The San Francisco-based telehealth company announced an international expansion.
- HIMS is among today’s top performers. Get the complete picture here.
What To Know: Hims & Hers announced that it’s now serving customers in Canada following the recent completion of its acquisition of Livewell, a Canadian-based digital health platform that focuses on weight loss treatments.
The all-cash deal is supported by Hims & Hers’ balance sheet, which included approximately $345.78 million in cash and cash equivalents as of Sept. 30.
Hims & Hers plans to use the acquisition to accelerate the launch of its comprehensive weight loss program in Canada in 2026. Hims & Hers will now be available in the U.S., Europe and Canada.
“Our expansion into Canada is a direct response to critical public health needs, particularly around the obesity crisis,” said Andrew Dudum, co-founder and CEO of Hims & Hers.
“This serves as a fundamental next step in delivering on our core promise: to democratize access to personalized, high-quality care. We are charting a path toward bringing the trusted Hims & Hers experience to more and more global markets over the coming years.”
This week, Hims & Hers also shared plans to acquire YourBio Health, a Boston-based company that works on painfree blood sampling solutions. YourBio Health’s Chief Scientific Officer Michael Mina said the company uses micro-needles thinner than an eyelash to draw blood.
The two companies have already signed a definitive agreement, and Mina, along with YourBio Health CEO Paul Owen, will join Hims & Hers. The deal, which will be completed for an unspecified amount, is expected to close early next year and will also be funded with cash.
HIMS Analysis: Hims & Hers is currently showing mixed signals in its technical setup. The stock is trading 1.8% above its 20-day SMA, but it’s significantly below its 50-day, 100-day, and 200-day SMAs, indicating a bearish trend overall.
The RSI is at 41.07, suggesting a neutral momentum, while the MACD is below its signal line, indicating bearish pressure, although the chart shows a slight bullish divergence. Key support is at $34.00, and if this level is breached, it could signal further downside, while resistance at $40.00 will be crucial for any potential recovery.
With the current technical indicators and moving average relationships, traders should watch for any break below support at $34.00 or a rally towards resistance at $40.00 to gauge the next potential move.
HIMS Price Action: Shares were up 4.75%, trading at $38.84 at the time of publication on Thursday, according to Benzinga Pro.
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