BNP Paribas Financial Markets lifted its stake in Hinge Health Inc. (NYSE:HNGE – Free Report) by 162.7% during the fourth quarter, HoldingsChannel reports. The fund owned 727,672 shares of the company’s stock after purchasing an additional 450,643 shares during the quarter. BNP Paribas Financial Markets’ holdings in Hinge Health were worth $33,800,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in HNGE. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Hinge Health in the 3rd quarter worth approximately $37,000. First Horizon Corp grew its position in Hinge Health by 163.9% in the fourth quarter. First Horizon Corp now owns 855 shares of the company’s stock valued at $40,000 after acquiring an additional 531 shares during the period. High Point Wealth Management LLC acquired a new position in Hinge Health in the fourth quarter worth $46,000. Aster Capital Management DIFC Ltd acquired a new position in Hinge Health in the third quarter worth $49,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Hinge Health by 348.0% during the third quarter. Jones Financial Companies Lllp now owns 1,120 shares of the company’s stock valued at $54,000 after acquiring an additional 870 shares during the period.
Insider Buying and Selling at Hinge Health
In other news, President James Pursley sold 16,000 shares of Hinge Health stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $53.79, for a total value of $860,640.00. Following the transaction, the president owned 780,223 shares in the company, valued at approximately $41,968,195.17. This trade represents a 2.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Antonio Perez sold 104,544 shares of Hinge Health stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $55.09, for a total value of $5,759,328.96. Following the completion of the transaction, the chief executive officer owned 35,470 shares in the company, valued at approximately $1,954,042.30. The trade was a 74.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 671,266 shares of company stock valued at $34,135,371 in the last three months. Corporate insiders own 18.92% of the company’s stock.
Hinge Health Price Performance
Hinge Health (NYSE:HNGE – Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.33. The firm had revenue of $182.31 million during the quarter. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.Hinge Health’s revenue was up 47.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.30 earnings per share. On average, equities analysts expect that Hinge Health Inc. will post 1.21 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on HNGE. Wells Fargo & Company increased their target price on Hinge Health from $68.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Wall Street Zen upgraded shares of Hinge Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 23rd. Citizens Jmp raised their price target on Hinge Health from $65.00 to $80.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 6th. Piper Sandler restated an “overweight” rating and issued a $95.00 price target on shares of Hinge Health in a research note on Wednesday, May 6th. Finally, Evercore reaffirmed an “outperform” rating and issued a $45.00 price objective on shares of Hinge Health in a research report on Wednesday, April 8th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Hinge Health currently has an average rating of “Moderate Buy” and an average price target of $67.40.
Check Out Our Latest Research Report on Hinge Health
Hinge Health Company Profile
Hinge Health (NYSE: HNGE) is a digital musculoskeletal (MSK) clinic that provides end-to-end solutions for the prevention and management of musculoskeletal conditions. The company’s platform combines wearable motion sensors, personalized exercise therapy guided by licensed physical therapists, and behavioral health coaching to deliver tailored treatment plans. By integrating technology with evidence-based clinical protocols, Hinge Health aims to reduce pain, improve mobility and decrease reliance on more invasive interventions such as surgery or opioid prescriptions.
Founded in 2015 and headquartered in San Francisco, Hinge Health partners with employers, health plans and other payers to offer its self-directed, app-based programs.
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