CenterBook Partners LP Buys 8,807 Shares of Hinge Health Inc. $HNGE

CenterBook Partners LP purchased a new stake in Hinge Health Inc. (NYSE:HNGE) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 8,807 shares of the company’s stock, valued at approximately $856,000.

A number of other hedge funds have also modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in Hinge Health in the third quarter valued at about $2,520,000. Assenagon Asset Management S.A. increased its position in shares of Hinge Health by 2,141.9% during the third quarter. Assenagon Asset Management S.A. now owns 1,854,922 shares of the company’s stock valued at $180,373,000 after acquiring an additional 1,772,182 shares during the last quarter. Argent Capital Management LLC acquired a new stake in shares of Hinge Health during the third quarter valued at about $3,376,000. 11.2 Capital Management LLC acquired a new stake in shares of Hinge Health during the second quarter valued at about $204,566,531. Finally, Vista Investment Partners LLC purchased a new stake in shares of Hinge Health in the 2nd quarter valued at approximately $3,468,000.

Insider Buying and Selling at Hinge Health

In other Hinge Health news, Chairman Gabriel Mecklenburg sold 200,000 shares of the business’s stock in a transaction on Monday, October 12th. The shares were sold at an average price of $103.13, for a total value of $20,626,000.00. Following the completion of the transaction, the chairman owned 200,000 shares in the company, valued at $20,626,000. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 company’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $94.14, for a total value of $3,106,620.00. Following the sale, the president directly owned 666,909 shares in the company, valued at $62,782,813.26. This represents a 4.71% decrease in their position. 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 1,024,581 shares of company stock valued at $95,632,761 in the last quarter. Corporate insiders own 18.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on HNGE shares. Zacks Research upgraded shares of Hinge Health from a “hold” rating to a “strong-buy” rating in a report on Friday, November 6th. Truist Financial lifted their target price on shares of Hinge Health from $112.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, November 3rd. Citigroup reissued an “outperform” rating on shares of Hinge Health in a research report on Monday, July 27th. Canaccord Genuity Group upped their price target on Hinge Health from $105.00 to $134.00 and gave the stock a “buy” rating in a research note on Tuesday, November 3rd. Finally, Stifel Nicolaus raised their price target on Hinge Health from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $118.93.

Hinge Health Stock Performance

Shares of HNGE opened at $123.17 on Wednesday. The company’s 50-day simple moving average is $102.11 and its 200-day simple moving average is $69.64. Hinge Health Inc. has a 1 year low of $30.08 and a 1 year high of $124.94. The stock has a market capitalization of $9.94 billion, a PE ratio of 66.41, a P/E/G ratio of 1.72 and a beta of 1.19.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings data on Monday, November 2nd. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm posted ($0.02) EPS. The company’s revenue for the quarter was up 52.4% on a year-over-year basis. On average, sell-side analysts predict that Hinge Health Inc. will post 1.56 earnings per share for the current year.

Hinge Health Company Profile

Hinge Health is a digital health company focused on musculoskeletal care, including support for people with back, joint and muscle pain. Its services are designed to help members manage conditions through personalized, technology-enabled care. The company’s offerings include app-based exercise therapy, education and behavioral support, along with access to clinical care teams. Hinge Health also uses wearable motion sensors in some programs to guide and track exercises. Founded in 2015, Hinge Health primarily provides its services through employers and health plans.