Bank of New York Mellon Corp purchased 1,333,146 shares of Hims & Hers Health, Inc. The new position is valued at approximately $46.22 million according to the latest SEC filing. This acquisition gives the institutional investor a 0.58% ownership stake in the company.
Truist maintains a bullish outlook on the company’s expansion into the weight-loss market. Hims & Hers continues to transition into a broader consumer-health platform. Other large institutional investors have also recently increased their holdings in the telehealth firm.