247Wallst·2026-03-11 14:10Company Overview - Hims & Hers Health (HIMS) reported full-year revenue of $2.347 billion, a 59% increase year-over-year, with a subscriber base exceeding 2.5 million and monthly revenue per subscriber at $83 [1][2] - Progyny (PGNY) achieved full-year revenue of $1.289 billion, up 10.4% year-over-year, with record adjusted EBITDA of $222.09 million and no debt [1][2] Analyst Ratings and Price Targets - Barclays raised the price target for Hims & Hers to $29 from $25, maintaining an Overweight rating, following a distribution agreement with Novo Nordisk that alleviated legal concerns [1][2] - Canaccord reduced Progyny's price target to $19 from $26 while keeping a Hold rating, citing cautious guidance for 2026 [1][2] Market Reactions and Performance - Hims & Hers shares surged 48.36% in the week ending March 10 after the Novo deal announcement, with an additional 5.91% increase on the most recent trading day [1][2] - Progyny's shares fell 30.26% year-to-date, trading at $17.91, just above a 52-week low, following weak 2026 guidance [1][2] Growth Projections - Hims & Hers projects 2026 revenue between $2.7 billion and $2.9 billion, with adjusted EBITDA expected to be between $300 million and $375 million [2] - Progyny's 2026 revenue guidance is between $1.355 billion and $1.405 billion, indicating a growth rate of only 5.1% to 9.0%, a significant slowdown from 2025 [2] Strategic Developments - The Novo Nordisk agreement allows Hims to distribute approved Ozempic and Wegovy injectables, which is expected to enhance growth opportunities [1][2] - The departure of Progyny's president at the end of 2025 is a leadership change that investors are monitoring closely [2]