Estuary Capital Management LP purchased a new position in Hinge Health Inc. (NYSE:HNGE – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 394,221 shares of the company’s stock, valued at approximately $15,201,000. Hinge Health makes up 2.5% of Estuary Capital Management LP’s investment portfolio, making the stock its 20th biggest holding. Estuary Capital Management LP owned 0.51% of Hinge Health as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of HNGE. Marshall Wace LLP bought a new position in Hinge Health in the 2nd quarter valued at about $367,000. Sei Investments Co. bought a new stake in shares of Hinge Health during the 2nd quarter worth about $869,000. Squarepoint Ops LLC bought a new stake in shares of Hinge Health during the 2nd quarter worth about $19,706,000. Raymond James Financial Inc. acquired a new stake in shares of Hinge Health in the 2nd quarter worth approximately $3,258,000. Finally, Sandia Investment Management LP bought a new position in shares of Hinge Health in the second quarter valued at approximately $657,000.
Wall Street Analyst Weigh In
A number of research analysts recently commented on HNGE shares. Robert W. Baird raised their price objective on shares of Hinge Health from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, June 17th. Wall Street Zen lowered Hinge Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 6th. Needham & Company LLC lifted their price target on Hinge Health from $63.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. KeyCorp boosted their price objective on Hinge Health from $90.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Finally, Citizens Jmp upped their price objective on Hinge Health from $80.00 to $96.00 and gave the company a “market outperform” rating in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Hinge Health has a consensus rating of “Moderate Buy” and an average price target of $86.07.
Hinge Health Price Performance
HNGE stock opened at $75.05 on Tuesday. The firm has a market cap of $5.81 billion, a PE ratio of -6.08 and a beta of 1.13. Hinge Health Inc. has a 12 month low of $30.08 and a 12 month high of $91.50. The firm has a 50 day simple moving average of $71.94 and a 200 day simple moving average of $52.97.
Hinge Health (NYSE:HNGE – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.33. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.The company had revenue of $182.31 million for the quarter. During the same period in the prior year, the company posted $1.30 EPS. Hinge Health’s quarterly revenue was up 47.2% on a year-over-year basis. As a group, sell-side analysts expect that Hinge Health Inc. will post 1.37 earnings per share for the current year.
Insider Transactions at Hinge Health
In related news, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of Hinge Health stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $85.05, for a total value of $7,087,556.70. Following the transaction, the chairman owned 83,334 shares of the company’s stock, valued at approximately $7,087,556.70. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President James Pursley sold 33,000 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $69.31, for a total value of $2,287,230.00. Following the sale, the president owned 740,897 shares in the company, valued at approximately $51,351,571.07. The trade was a 4.26% 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 have sold 3,921,100 shares of company stock valued at $299,222,881 over the last three months. Company insiders own 18.92% of the company’s stock.
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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