34,721 Shares of Hinge Health Inc. $HNGE Bought by Argent Capital Management LLC

Key Points

• Argent Capital Management purchased 34,721 Hinge Health shares worth approximately $3.38 million, while several other institutional investors also initiated or increased positions.
• Analyst sentiment remains positive, with 16 analysts rating the stock Buy or Strong Buy. The average price target is $105.33, with recent targets ranging as high as $125.
• HNGE recently traded near its 52-week high at $98.88 after reporting $0.59 quarterly EPS, beating estimates, and 53% year-over-year revenue growth. However, insiders sold about $108.1 million of shares over the past 90 days.

Argent Capital Management LLC purchased a new stake in Hinge Health Inc. (NYSE:HNGE - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 34,721 shares of the company's stock, valued at approximately $3,376,000.

Several other large investors have also modified their holdings of the business. Tidal Investments LLC purchased a new stake in Hinge Health in the 2nd quarter valued at approximately $925,000. Van Hulzen Asset Management LLC raised 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 worth $1,118,000 after acquiring an additional 5,500 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Hinge Health in the second quarter valued at $373,000. IFP Advisors Inc lifted its position in shares of 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 acquiring an additional 189 shares in the last quarter. Finally, Arizona State Retirement System acquired a new stake in shares of Hinge Health during the second quarter valued at $876,000.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HNGE shares. Stifel Nicolaus upped their target price on shares of Hinge Health from $96.00 to $115.00 and gave the company a "buy" rating in a report on Tuesday, September 8th. KeyCorp lifted their price target on shares of Hinge Health from $90.00 to $125.00 and gave the stock an "overweight" rating in a report on Monday, July 13th. Morgan Stanley upped their price objective on shares of Hinge Health from $72.00 to $108.00 and gave the company an "overweight" rating in a research note on Monday, July 13th. Truist Financial raised their target price on shares of Hinge Health from $85.00 to $112.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Hinge Health in a research note on Monday, July 27th. One investment 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 MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $105.33.

Insider Buying and Selling

In related news, President James Pursley sold 33,000 shares of the 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 transaction, the president directly owned 666,909 shares of the company's stock, valued at approximately $62,782,813.26. This trade represents a 4.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 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 completion of the transaction, the chief executive officer owned 35,470 shares in the company, valued at $3,172,436.80. The trade was a 80.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,198,932 shares of company stock worth $108,122,542 over the last 90 days. Company insiders own 18.92% of the company's stock.

Hinge Health Trading Up 1.2%

HNGE traded up $1.21 during midday trading on Monday, hitting $98.88. The company's stock had a trading volume of 566,195 shares, compared to its average volume of 1,577,652. Hinge Health Inc. has a 52-week low of $30.08 and a 52-week high of $99.81. The firm has a 50-day moving average price of $88.84 and a two-hundred day moving average price of $69.46. The firm has a market cap of $7.98 billion, a P/E ratio of 77.19 and a beta of 1.37.

Hinge Health (NYSE:HNGE - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.31. Hinge Health had a net margin of 15.15% and a return on equity of 51.60%. The business had revenue of $212.82 million for the quarter. During the same period in the prior year, the business posted $0.59 earnings per share. Hinge Health's revenue was up 53.0% on a year-over-year basis. On average, equities analysts expect that Hinge Health Inc. will post 1.25 EPS for the current year.

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.

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