OP Asset Management Ltd Buys New Position in Hinge Health Inc. $HNGE

OP Asset Management Ltd bought a new stake in Hinge Health Inc. (NYSE:HNGE) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 22,085 shares of the company’s stock, valued at approximately $852,000.

A number of other large investors have also recently bought and sold shares of HNGE. CENTRAL TRUST Co bought a new position in shares of Hinge Health during the 1st quarter worth approximately $37,000. Hsbc Holdings PLC lifted its position in shares of Hinge Health by 204.9% in the fourth quarter. Hsbc Holdings PLC now owns 30,460 shares of the company’s stock worth $1,411,000 after purchasing an additional 20,469 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Hinge Health during the fourth quarter worth $26,000. Alpine Woods Capital Investors LLC acquired a new position in Hinge Health during the fourth quarter worth $1,947,000. Finally, Voloridge Investment Management LLC bought a new position in Hinge Health in the fourth quarter valued at $25,541,000.

Hinge Health Price Performance

Shares of HNGE stock opened at $81.69 on Tuesday. The stock has a market cap of $6.32 billion and a P/E ratio of -6.62. The company has a fifty day moving average price of $57.69 and a two-hundred day moving average price of $47.77. Hinge Health Inc. has a one year low of $30.08 and a one year high of $84.62.

Hinge Health (NYSE:HNGE) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.33. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The company had revenue of $182.31 million for the quarter. During the same quarter in the prior year, the firm earned $1.30 earnings per share. The firm’s revenue for the quarter was up 47.2% on a year-over-year basis. As a group, equities research analysts anticipate that Hinge Health Inc. will post 1.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on HNGE. Stifel Nicolaus set a $79.00 price target on shares of Hinge Health in a research report on Wednesday, June 10th. Zacks Research upgraded Hinge Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. KeyCorp lifted their target price on Hinge Health from $75.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Needham & Company LLC upped their target price on Hinge Health from $63.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Finally, Citigroup reissued an “outperform” rating on shares of Hinge Health in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $75.80.

Insider Buying and Selling at Hinge Health

In related news, Chairman Gabriel M.I. Mecklenburg sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $65.54, for a total transaction of $3,277,000.00. Following the transaction, the chairman directly owned 50,000 shares of the company’s stock, valued at approximately $3,277,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President James Pursley sold 33,000 shares of the stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $69.31, for a total value of $2,287,230.00. Following the completion of the sale, the president owned 740,897 shares in the company, valued at approximately $51,351,571.07. This trade represents a 4.26% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,494,928 shares of company stock worth $257,112,011 over the last 90 days. 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.