WW - Will WW International's Bet on Ozempic Pay Off for Investors?
2024-03-08 05:40:00 ET
Weight-loss and diabetes drugs have been transforming the healthcare industry over the past few years. Glucagon-like peptide 1 (GLP-1) agonists such as Wegovy and Ozempic have been growing in popularity as they help people shed pounds without the need for a complex weight-loss plan.
WW International (NASDAQ: WW) , formerly known as Weight Watchers, has also jumped on the bandwagon. Last year, the company launched a program designed for GLP-1 drug users, which it hopes could generate some much-needed growth for its business. Can that help transform its operations and make this beaten-down stock become a good buy right now?
On Feb. 28, WW International posted its fourth-quarter and full-year 2023 earnings -- they weren't great. The company's revenue totaled $206.0 million, down 7.6% year over year. Subscription revenue, which makes up the bulk of its top line, came in at $196.1 million with a 2.4% decline.
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Will WW International's Bet on Ozempic Pay Off for Investors?