Mirae Asset Global Investments Co. Ltd. purchased a new position in Hinge Health Inc. (NYSE:HNGE – Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 25,919 shares of the company’s stock, valued at approximately $2,520,000.
Several other large investors have also recently made changes to their positions in HNGE. IFP Advisors Inc raised its stake in Hinge Health by 140.0% in the 2nd quarter. IFP Advisors Inc now owns 324 shares of the company’s stock valued at $27,000 after purchasing an additional 189 shares during the last quarter. Nykredit A S purchased a new position in Hinge Health in the 2nd quarter valued at $29,000. SBI Securities Co. Ltd. lifted its holdings in Hinge Health by 39.5% in the 3rd quarter. SBI Securities Co. Ltd. now owns 364 shares of the company’s stock valued at $35,000 after purchasing an additional 103 shares in the last quarter. Sterling Capital Management LLC boosted its stake in Hinge Health by 899.3% during the 3rd quarter. Sterling Capital Management LLC now owns 1,469 shares of the company’s stock worth $143,000 after purchasing an additional 1,322 shares during the last quarter. Finally, Vise Technologies Inc. acquired a new stake in Hinge Health during the 3rd quarter worth $207,000.
Analyst Ratings Changes
HNGE has been the subject of a number of research reports. Wells Fargo & Company upped their target price on shares of Hinge Health from $103.00 to $132.00 and gave the stock an “overweight” rating in a report on Tuesday. Evercore reissued an “outperform” rating and issued a $105.00 price target on shares of Hinge Health in a research note on Wednesday, August 5th. Barclays boosted their price target on shares of Hinge Health from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, October 12th. Canaccord Genuity Group upped their price objective on shares of Hinge Health from $105.00 to $134.00 and gave the company a “buy” rating in a research note on Tuesday, November 3rd. Finally, Needham & Company LLC increased their price objective on shares of Hinge Health from $115.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $118.93.
Check Out Our Latest Report on Hinge Health
Hinge Health Stock Performance
NYSE HNGE opened at $115.75 on Friday. The stock’s fifty day moving average is $100.80 and its two-hundred day moving average is $68.84. The firm has a market capitalization of $9.34 billion, a P/E ratio of 59.06, a price-to-earnings-growth ratio of 2.03 and a beta of 1.19. Hinge Health Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $124.94.
Hinge Health (NYSE:HNGE – Get Free Report) last issued its earnings results on Monday, November 2nd. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.44. Hinge Health had a return on equity of 73.91% and a net margin of 21.02%. The business had revenue of $234.97 million during the quarter. During the same period last year, the business earned ($0.02) earnings per share. The firm’s revenue was up 52.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Hinge Health Inc. will post 1.56 EPS for the current year.
Insider Activity
In related news, CFO James Budge sold 47,720 shares of the firm’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $103.13, for a total transaction of $4,921,363.60. Following the completion of the sale, the chief financial officer directly owned 296,728 shares in the company, valued at approximately $30,601,558.64. This trade represents a 13.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Gabriel Mecklenburg sold 200,000 shares of the firm’s stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $103.13, for a total transaction of $20,626,000.00. Following the sale, the chairman owned 200,000 shares of the company’s stock, valued at approximately $20,626,000. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,024,581 shares of company stock worth $95,632,761. Company insiders own 18.92% of the company’s stock.
Hinge Health Company Profile
Hinge Health is a digital healthcare company focused on musculoskeletal (MSK) conditions, including back and joint pain. The company provides virtual care programs designed to help members manage pain, improve mobility and reduce the need for more costly or invasive treatments.
Its platform combines personalized exercise therapy, behavioral support, education and access to clinical professionals. Hinge Health also uses technologies such as motion-sensing wearable devices and artificial intelligence to help guide exercises, monitor progress and tailor care plans to individual needs.
Hinge Health primarily serves employers and health plans, which offer its programs to eligible members in the United States.
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