Hinge Health Inc. $HNGE Stock Purchased by Vista Investment Partners LLC

Vista Investment Partners LLC boosted its position in shares of Hinge Health Inc. (NYSE:HNGE) by 29.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 54,021 shares of the company’s stock after purchasing an additional 12,232 shares during the quarter. Hinge Health makes up 1.3% of Vista Investment Partners LLC’s portfolio, making the stock its 21st biggest holding. Vista Investment Partners LLC’s holdings in Hinge Health were worth $5,252,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. MRA Advisory Group purchased a new stake in shares of Hinge Health in the 3rd quarter worth about $755,000. Argent Capital Management LLC purchased a new position in Hinge Health during the 3rd quarter valued at about $3,376,000. Tidal Investments LLC acquired a new position in Hinge Health during the second quarter worth about $925,000. Van Hulzen Asset Management LLC lifted its holdings in shares of Hinge Health by 69.0% in the second quarter. Van Hulzen Asset Management LLC now owns 13,473 shares of the company’s stock valued at $1,118,000 after purchasing an additional 5,500 shares in the last quarter. Finally, Engineers Gate Manager LP acquired a new position in shares of Hinge Health during the 2nd quarter worth approximately $373,000.

Analysts Set New Price Targets

A number of equities research analysts have commented on HNGE shares. Bank of America started coverage on Hinge Health in a report on Tuesday, September 29th. They set a “buy” rating and a $110.00 target price on the stock. Zacks Research cut Hinge Health from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Royal Bank Of Canada boosted their target price on shares of Hinge Health from $75.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Wells Fargo & Company raised their price target on shares of Hinge Health from $90.00 to $103.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Finally, Barclays lifted their price target on shares of Hinge Health from $97.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. One 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. According to data from MarketBeat, Hinge Health currently has an average rating of “Moderate Buy” and an average target price of $105.33.

Hinge Health Stock Performance

NYSE HNGE traded up $0.37 during trading hours on Thursday, hitting $98.23. 369,362 shares of the company’s stock were exchanged, compared to its average volume of 1,597,265. The business’s 50 day moving average is $90.23 and its 200-day moving average is $70.59. Hinge Health Inc. has a 12-month low of $30.08 and a 12-month high of $100.36. The firm has a market capitalization of $7.93 billion, a P/E ratio of 76.51 and a beta of 1.37.

Hinge Health (NYSE:HNGE) last posted 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. Hinge Health had a net margin of 15.15% and a return on equity of 51.60%. The company had revenue of $212.82 million during the quarter. During the same period in the prior year, the company earned $0.59 EPS. The company’s revenue was up 53.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Hinge Health Inc. will post 1.25 EPS for the current fiscal year.

Insider Activity at Hinge Health

In other Hinge Health news, CEO Daniel Perez sold 150,000 shares of Hinge Health 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 transaction, the chief executive officer owned 35,470 shares in the company, valued at $3,172,436.80. This trade represents a 80.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kristina Leslie sold 1,200 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $88.23, for a total transaction of $105,876.00. Following the sale, the director directly owned 30,387 shares of the company’s stock, valued at approximately $2,681,045.01. This trade represents a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 776,861 shares of company stock valued at $70,085,397 over the last 90 days. 18.92% of the stock is currently owned by insiders.

About Hinge Health

Hinge Health, Inc is a digital healthcare company focused on musculoskeletal (MSK) conditions, including back and joint pain. The company provides virtual care designed to help members manage pain, improve mobility and avoid or delay more invasive treatments.

Its platform combines a mobile application, motion-sensing technology, personalized exercise therapy, education and support from a care team that may include clinical specialists. Hinge Health offers programs for conditions such as chronic back pain, knee pain and other common MSK issues, with services generally provided through employers, health plans and other healthcare organizations.

Hinge Health was founded in 2015 and is headquartered in San Francisco, California.