Arrowstreet Capital Limited Partnership Grows Stock Holdings in Hinge Health Inc. $HNGE

Key Points

• Arrowstreet Capital increased its Hinge Health stake by 225.7% in the first quarter, adding 806,007 shares to own 1.16 million shares valued at approximately $44.9 million.
• Analysts remain broadly bullish, with a “Moderate Buy” consensus and an average price target of $86.07. Several firms recently raised their targets, including Morgan Stanley to $108.
• Hinge Health reported quarterly EPS of $0.45, beating estimates of $0.12, while revenue rose 47.2% year over year to $182.3 million. However, insiders sold roughly 3.92 million shares worth $299.2 million over the past 90 days.

Arrowstreet Capital Limited Partnership grew its holdings in Hinge Health Inc. (NYSE:HNGE - Free Report) by 225.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,163,187 shares of the company's stock after buying an additional 806,007 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 1.48% of Hinge Health worth $44,852,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in HNGE. Sei Investments Co. lifted its holdings in shares of Hinge Health by 12.9% in the 1st quarter. Sei Investments Co. now owns 85,633 shares of the company's stock valued at $3,302,000 after acquiring an additional 9,807 shares during the last quarter. State of Wyoming bought a new stake in Hinge Health during the first quarter worth approximately $110,000. PNC Financial Services Group Inc. increased its stake in Hinge Health by 172.7% during the first quarter. PNC Financial Services Group Inc. now owns 9,898 shares of the company's stock worth $382,000 after acquiring an additional 6,268 shares during the last quarter. Swiss National Bank raised its position in Hinge Health by 8.1% during the first quarter. Swiss National Bank now owns 34,800 shares of the company's stock valued at $1,342,000 after purchasing an additional 2,600 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in Hinge Health during the first quarter valued at approximately $292,000.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Truist Financial lifted their target price on Hinge Health from $79.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, June 11th. Citizens Jmp increased their price target on Hinge Health from $80.00 to $96.00 and gave the company a "market outperform" rating in a report on Monday. Morgan Stanley raised their price target on Hinge Health from $72.00 to $108.00 and gave the stock an "overweight" rating in a research report on Monday, July 13th. Citigroup reaffirmed an "outperform" rating on shares of Hinge Health in a research note on Monday. Finally, Needham & Company LLC boosted their price objective on shares of Hinge Health from $63.00 to $76.00 and gave the company a "buy" rating in a research report on Thursday, June 11th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $86.07.

Insider Transactions at Hinge Health

In related news, President James Pursley sold 33,000 shares of Hinge Health stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $69.31, for a total transaction of $2,287,230.00. Following the completion of the sale, the president owned 740,897 shares in the company, valued at $51,351,571.07. This trade represents a 4.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Insight Holdings Group, Llc sold 181,499 shares of the business's stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $90.20, for a total transaction of $16,371,209.80. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 3,921,100 shares of company stock worth $299,222,881. 18.92% of the stock is currently owned by insiders.

Hinge Health Stock Performance

HNGE opened at $75.05 on Tuesday. The stock's 50 day moving average price is $71.94 and its 200-day moving average price is $52.97. Hinge Health Inc. has a one year low of $30.08 and a one year high of $91.50. The stock has a market cap of $5.81 billion, a price-to-earnings ratio of -6.08 and a beta of 1.13.

Hinge Health (NYSE:HNGE - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.33. The company had revenue of $182.31 million during the quarter. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.Hinge Health's revenue was up 47.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.30 EPS. As a group, analysts predict that Hinge Health Inc. will post 1.37 earnings per share for the current fiscal 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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