9,255 Hinge Health Inc. $HNGE Shares Sold by Summit Creek Advisors LLC

Summit Creek Advisors LLC cut its position in shares of Hinge Health Inc. (NYSE:HNGE) by 15.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,648 shares of the company’s stock after selling 9,255 shares during the period. Hinge Health accounts for 2.0% of Summit Creek Advisors LLC’s portfolio, making the stock its 27th largest holding. Summit Creek Advisors LLC’s holdings in Hinge Health were worth $4,925,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of HNGE. SBI Securities Co. Ltd. lifted its stake 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 during the last quarter. ProShare Advisors LLC raised its stake in Hinge Health by 2.1% in the third quarter. ProShare Advisors LLC now owns 5,588 shares of the company’s stock valued at $543,000 after buying an additional 117 shares during the period. IFP Advisors Inc raised its stake in Hinge Health by 140.0% in the second quarter. IFP Advisors Inc now owns 324 shares of the company’s stock valued at $27,000 after buying an additional 189 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Hinge Health by 3.3% in the first quarter. Janney Montgomery Scott LLC now owns 9,400 shares of the company’s stock valued at $362,000 after buying an additional 300 shares during the last quarter. Finally, Nykredit A S acquired a new stake in shares of Hinge Health in the second quarter valued at approximately $29,000.

Insider Transactions at Hinge Health

In related news, Chairman Gabriel Mecklenburg sold 250,000 shares of the business’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $88.97, for a total value of $22,242,500.00. Following the completion of the sale, the chairman directly owned 250,000 shares in the company, valued at $22,242,500. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Perez sold 150,000 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $89.44, for a total value of $13,416,000.00. Following the completion of the sale, the chief executive officer owned 35,470 shares of the company’s stock, valued at $3,172,436.80. This trade represents a 80.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,024,581 shares of company stock worth $95,632,761 in the last ninety days. 18.92% of the stock is currently owned by company insiders.

Hinge Health Stock Down 0.2%

Hinge Health stock opened at $115.75 on Friday. The stock has a market cap of $9.34 billion, a P/E ratio of 59.06, a P/E/G ratio of 2.03 and a beta of 1.19. Hinge Health Inc. has a twelve month low of $30.08 and a twelve month high of $124.94. The company’s 50-day moving average price is $100.80 and its two-hundred day moving average price is $68.84.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings data on Monday, November 2nd. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.44. Hinge Health had a net margin of 21.02% and a return on equity of 73.91%. The firm had revenue of $234.97 million during the quarter. During the same quarter last year, the business earned ($0.02) earnings per share. The company’s revenue was up 52.4% on a year-over-year basis. Equities analysts anticipate that Hinge Health Inc. will post 1.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on HNGE. Needham & Company LLC lifted their target price on Hinge Health from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday. Royal Bank Of Canada increased their price target on Hinge Health from $110.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, November 3rd. Stifel Nicolaus raised their price target on Hinge Health from $130.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, November 3rd. Bank of America began coverage on shares of Hinge Health in a research report on Tuesday, September 29th. They set a “buy” rating and a $110.00 price objective for the company. Finally, Citizens Jmp lifted their price objective on shares of Hinge Health from $96.00 to $107.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Hinge Health has a consensus rating of “Moderate Buy” and an average target price of $118.93.

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.