Zurcher Kantonalbank Zurich Cantonalbank Boosts Holdings in Hinge Health Inc. $HNGE

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Hinge Health Inc. (NYSE:HNGE) by 755.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,354 shares of the company’s stock after buying an additional 24,155 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Hinge Health were worth $1,271,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of HNGE. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Hinge Health in the 3rd quarter valued at $37,000. First Horizon Corp grew its position in shares of Hinge Health by 163.9% in the 4th quarter. First Horizon Corp now owns 855 shares of the company’s stock valued at $40,000 after buying an additional 531 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Hinge Health in the 3rd quarter valued at $49,000. Jones Financial Companies Lllp grew its position in shares of Hinge Health by 348.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,120 shares of the company’s stock valued at $54,000 after buying an additional 870 shares during the last quarter. Finally, Rakuten Investment Management Inc. purchased a new position in shares of Hinge Health in the 3rd quarter valued at $81,000.

Insider Activity

In other news, CEO Daniel Antonio Perez sold 166,665 shares of the firm’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $40.26, for a total value of $6,709,932.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Gabriel M.I. Mecklenburg sold 33,333 shares of the firm’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $45.05, for a total transaction of $1,501,651.65. Following the completion of the sale, the chairman owned 33,333 shares of the company’s stock, valued at $1,501,651.65. This trade represents a 50.00% 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 a total of 442,670 shares of company stock worth $18,786,901 over the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wall Street Zen raised shares of Hinge Health from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Barclays decreased their price target on shares of Hinge Health from $60.00 to $52.00 and set an “overweight” rating for the company in a research note on Wednesday, February 11th. Needham & Company LLC reiterated a “buy” rating and set a $59.00 price target on shares of Hinge Health in a research note on Wednesday, February 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of Hinge Health in a research note on Thursday, January 22nd. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $65.00 price target on shares of Hinge Health in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $56.73.

Hinge Health Price Performance

Shares of NYSE:HNGE opened at $43.96 on Thursday. The stock has a market cap of $3.46 billion and a P/E ratio of -3.43. The firm has a fifty day moving average price of $41.98 and a 200 day moving average price of $44.03. Hinge Health Inc. has a 1-year low of $30.08 and a 1-year high of $62.18.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.45. The business had revenue of $170.73 million for the quarter, compared to analyst estimates of $157.31 million. The company’s quarterly revenue was up 45.5% on a year-over-year basis. Sell-side analysts expect that Hinge Health Inc. will post 0.78 EPS for the current fiscal year.

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.