Hinge Health Inc. $HNGE Shares Newly Acquired by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. bought a new position in shares of Hinge Health Inc. (NYSE:HNGE) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,347 shares of the company’s stock, valued at approximately $1,211,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. 11.2 Capital Management LLC acquired a new position in Hinge Health in the 2nd quarter valued at about $204,566,531. Assenagon Asset Management S.A. raised its stake in Hinge Health by 2,141.9% during the 3rd 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. Arrowstreet Capital Limited Partnership raised its stake in Hinge Health by 225.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company’s stock valued at $44,852,000 after acquiring an additional 806,007 shares during the last quarter. Wellington Management Group LLP lifted its position in Hinge Health by 169.7% during the 2nd quarter. Wellington Management Group LLP now owns 1,205,584 shares of the company’s stock worth $100,063,000 after acquiring an additional 758,594 shares during the period. Finally, Estuary Capital Management LP acquired a new stake in Hinge Health during the 1st quarter worth approximately $15,201,000.

Insiders Place Their Bets

In other Hinge Health news, CEO Daniel Perez sold 150,000 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $89.44, for a total transaction of $13,416,000.00. Following the transaction, the chief executive officer owned 35,470 shares in the company, valued at approximately $3,172,436.80. The trade was a 80.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO James Budge sold 55,561 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $89.45, for a total value of $4,969,931.45. Following the transaction, the chief financial officer directly owned 349,062 shares of the company’s stock, valued at approximately $31,223,595.90. This trade represents a 13.73% 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. Over the last 90 days, insiders have sold 1,024,581 shares of company stock worth $95,632,761. Company insiders own 18.92% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on HNGE. Evercore reiterated an “outperform” rating and issued a $105.00 target price on shares of Hinge Health in a research note on Wednesday, August 5th. Robert W. Baird upped their price target on Hinge Health from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 22nd. Weiss Ratings cut Hinge Health from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Morgan Stanley increased their price target on Hinge Health from $72.00 to $108.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Finally, Truist Financial lifted their price objective on shares of Hinge Health from $85.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Hinge Health has an average rating of “Moderate Buy” and a consensus target price of $107.00.

Hinge Health Stock Up 4.2%

Shares of Hinge Health stock opened at $112.02 on Thursday. The firm has a market cap of $9.04 billion, a price-to-earnings ratio of 83.34 and a beta of 1.37. Hinge Health Inc. has a 52-week low of $30.08 and a 52-week high of $112.24. The company’s 50-day simple moving average is $94.64 and its 200-day simple moving average is $75.16.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.31. The firm had revenue of $212.82 million during the quarter. Hinge Health had a net margin of 15.15% and a return on equity of 51.60%. Hinge Health’s revenue for the quarter was up 53.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 EPS. Equities research analysts anticipate that Hinge Health Inc. will post 1.25 EPS for the current year.

About Hinge Health

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.