Counterpoint Mutual Funds LLC Trims Stock Position in Hinge Health Inc. $HNGE

Counterpoint Mutual Funds LLC lessened its stake in shares of Hinge Health Inc. (NYSE:HNGE) by 90.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,496 shares of the company’s stock after selling 71,961 shares during the period. Counterpoint Mutual Funds LLC’s holdings in Hinge Health were worth $289,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Marshall Wace LLP bought a new position in Hinge Health in the second quarter worth approximately $367,000. Sei Investments Co. bought a new stake in Hinge Health during the 2nd quarter valued at $869,000. Squarepoint Ops LLC purchased a new stake in shares of Hinge Health in the 2nd quarter worth $19,706,000. Raymond James Financial Inc. purchased a new stake in shares of Hinge Health in the 2nd quarter worth $3,258,000. Finally, Sandia Investment Management LP bought a new position in shares of Hinge Health during the 2nd quarter worth $657,000.

Insider Activity

In related news, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $82.83, for a total transaction of $121,484,027.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $85.05, for a total transaction of $7,087,556.70. Following the completion of the sale, 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 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. In the last ninety days, insiders have sold 3,528,262 shares of company stock worth $262,276,568. Corporate insiders own 18.92% of the company’s stock.

Hinge Health Price Performance

Shares of NYSE HNGE opened at $84.15 on Monday. The stock has a market capitalization of $6.51 billion, a P/E ratio of -6.82 and a beta of 1.13. Hinge Health Inc. has a 1-year low of $30.08 and a 1-year high of $86.66. The business has a fifty day moving average price of $60.90 and a 200 day moving average price of $48.75.

Hinge Health (NYSE:HNGE) last posted its 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. The company had revenue of $182.31 million for 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 for the quarter was up 47.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.30 EPS. As a group, equities research analysts anticipate that Hinge Health Inc. will post 1.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on HNGE shares. Zacks Research upgraded Hinge Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Truist Financial increased their target price on shares of Hinge Health from $79.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Raymond James Financial raised their target price on shares of Hinge Health from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, June 15th. Citigroup restated an “outperform” rating on shares of Hinge Health in a report on Wednesday, May 6th. Finally, Citizens Jmp upped their price target on shares of Hinge Health from $65.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Hinge Health presently has a consensus rating of “Moderate Buy” and an average target price of $75.80.

Hinge Health 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.