11.2 Capital Management LLC Makes New Investment in Hinge Health Inc. $HNGE

Key Points

• 11.2 Capital Management LLC acquired 2.46 million Hinge Health shares worth approximately $204.6 million, representing about 3.19% of the company and its entire reported portfolio. Several other institutional investors also initiated or increased positions.
• Analyst sentiment remains broadly positive, with 15 of 18 analysts rating the stock Strong Buy or Buy. Hinge Health has a consensus rating of “Moderate Buy” and an average price target of $100.57, though some firms issued Hold or Sell ratings.
• Hinge Health reported quarterly earnings of $0.59 per share, exceeding the $0.28 consensus estimate, while revenue rose 53% year over year to $212.82 million. The stock opened at $88.44, near its 52-week high, as insiders sold more than $287.9 million in shares over the past 90 days.

11.2 Capital Management LLC acquired a new stake in Hinge Health Inc. (NYSE:HNGE - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,464,657 shares of the company's stock, valued at approximately $204,566,531,000. Hinge Health accounts for about 100.0% of 11.2 Capital Management LLC's investment portfolio, making the stock its biggest position. 11.2 Capital Management LLC owned approximately 3.19% of Hinge Health as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Summit Creek Advisors LLC bought a new position in Hinge Health in the 2nd quarter valued at about $4,972,000. Vista Investment Partners LLC bought a new position in Hinge Health during the 2nd quarter worth $3,468,000. Assenagon Asset Management S.A. acquired a new stake in shares of Hinge Health during the second quarter worth $6,867,000. California State Teachers Retirement System lifted its holdings in shares of Hinge Health by 35.2% during the first quarter. California State Teachers Retirement System now owns 19,141 shares of the company's stock worth $738,000 after buying an additional 4,986 shares in the last quarter. Finally, Estuary Capital Management LP bought a new stake in shares of Hinge Health in the first quarter valued at about $15,201,000.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Hinge Health in a report on Monday, August 3rd. Needham & Company LLC boosted their target price on shares of Hinge Health from $76.00 to $97.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Wall Street Zen lowered Hinge Health from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Piper Sandler reaffirmed an "overweight" rating on shares of Hinge Health in a research note on Wednesday, June 10th. Finally, Truist Financial boosted their price target on Hinge Health from $85.00 to $112.00 and gave the stock a "buy" rating in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $100.57.

Insider Buying and Selling

In other Hinge Health news, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of Hinge Health stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $85.05, for a total value of $7,087,556.70. Following the completion of the sale, the chairman directly owned 83,334 shares in the company, valued at approximately $7,087,556.70. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kristina M. Leslie sold 1,200 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $88.23, for a total value of $105,876.00. Following the completion of the transaction, the director directly owned 30,387 shares in the company, 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 sold 3,715,613 shares of company stock valued at $287,949,587 over the last 90 days. Company insiders own 18.92% of the company's stock.

Hinge Health Stock Performance

NYSE:HNGE opened at $88.44 on Monday. Hinge Health Inc. has a 52 week low of $30.08 and a 52 week high of $93.13. The firm's fifty day moving average is $81.40 and its 200-day moving average is $58.45. The firm has a market cap of $7.14 billion, a P/E ratio of 69.09 and a beta of 1.30.

Hinge Health (NYSE:HNGE - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.31. The business 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 quarterly revenue was up 53.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.59 EPS. As a group, sell-side analysts anticipate that Hinge Health Inc. will post 1.25 earnings per share for the current year.

Hinge Health Company 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.

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