Shares of Hims & Hers Health Inc ( HIMS ) are trading marginally lower Monday morning, as competitive news overshadows bullish announcements from the company. Here’s what investors need to know.

HIMS is facing resistance from sellers. Get the market research here.

What To Know: The weakness appears linked to Novo Nordisk’s decision to slash the U.S. self-pay price of its popular GLP-1 drugs, Wegovy and Ozempic, from $499 to $349 per month, intensifying pressure in the weight-loss market.

The move overshadowed Hims’ announcement of a new $250 million share repurchase authorization, set to be executed over the next three years. This follows the recent completion of a $100 million buyback program.

CEO Andrew Dudum stated the move allows Hims to “capitalize on… valuation disconnects,” suggesting management believes the stock is undervalued.

This news also follows the company’s recent launch of Labs, a new comprehensive testing service. The platform offers annual plans priced at $199 and $499 for biomarker testing in areas like heart health, hormones and metabolism, in partnership with Quest Diagnostics.

Despite these positive steps, the market appears focused on the increased pricing competition from Novo Nordisk.

Benzinga Edge Rankings: Reflecting the company’s recent expansion, Benzinga Edge stock rankings give Hims a high Growth score of 92.75.

HIMS Price Action: Hims & Hers Health ( HIMS ) shares were down 3.03% at $35.86 at the time of publication on Monday, according to Benzinga Pro data.

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How To Buy HIMS Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Hims & Hers Health’s case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

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