NorthRock Partners LLC Trims Stake in Hinge Health Inc. $HNGE

NorthRock Partners LLC cut its stake in Hinge Health Inc. (NYSE:HNGEFree Report) by 53.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,096 shares of the company’s stock after selling 21,135 shares during the quarter. NorthRock Partners LLC’s holdings in Hinge Health were worth $1,502,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Wells Fargo & Company MN increased its holdings in shares of Hinge Health by 160.0% during the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock valued at $25,000 after purchasing an additional 336 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Hinge Health in the fourth quarter worth about $26,000. IFP Advisors Inc boosted its stake in shares of Hinge Health by 140.0% during the 2nd quarter. IFP Advisors Inc now owns 324 shares of the company’s stock worth $27,000 after acquiring an additional 189 shares in the last quarter. Nykredit A S acquired a new stake in shares of Hinge Health during the 2nd quarter valued at about $29,000. Finally, CENTRAL TRUST Co acquired a new position in Hinge Health in the 1st quarter worth about $37,000.

Hinge Health Stock Down 1.2%

HNGE stock opened at $91.59 on Thursday. The business has a 50 day moving average price of $85.97 and a 200 day moving average price of $63.46. Hinge Health Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $95.57. The stock has a market cap of $7.39 billion, a price-to-earnings ratio of 71.56 and a beta of 1.38.

Hinge Health (NYSE:HNGEGet Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.31. The business had revenue of $212.82 million during the quarter. Hinge Health had a return on equity of 51.60% and a net margin of 15.15%.The firm’s revenue for the quarter was up 53.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 earnings per share. As a group, sell-side analysts anticipate that Hinge Health Inc. will post 1.25 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on HNGE shares. Barclays upped their target price on Hinge Health from $97.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Hinge Health in a research report on Monday, August 3rd. Morgan Stanley increased their price objective on shares of Hinge Health from $72.00 to $108.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Citigroup restated an “outperform” rating on shares of Hinge Health in a research report on Monday, July 27th. Finally, Wells Fargo & Company raised their price objective on Hinge Health from $90.00 to $103.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $101.93.

View Our Latest Stock Report on Hinge Health

Insider Buying and Selling

In related news, Chairman Gabriel Mecklenburg sold 83,334 shares of Hinge Health stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $85.05, for a total value of $7,087,556.70. Following the transaction, the chairman directly owned 83,334 shares in the company, valued at $7,087,556.70. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $82.83, for a total transaction of $121,484,027.61. The SEC filing for this sale provides additional information. In the last three months, insiders sold 3,510,039 shares of company stock worth $276,899,004. Corporate insiders own 18.92% of the company’s stock.

Hinge Health Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Hinge Health (NYSE:HNGE)

Receive News & Ratings for Hinge Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hinge Health and related companies with MarketBeat.com's FREE daily email newsletter.