Braidwell LP Invests $44.69 Million in Hinge Health Inc. $HNGE

Key Points

• Braidwell LP acquired 910,476 shares of Hinge Health (NYSE:HNGE) in Q3, a position valued at about $44.69 million that represents roughly 1.3% of its portfolio and is its 25th largest holding.
• Hinge Health posted a strong quarter with EPS of $0.49 vs. $0.04 consensus and revenue of $170.73 million (up 45.5% year-over-year), beating analyst expectations.
• Company insiders have sold significant stock (totaling 692,157 shares, about $31.3 million over the past 90 days), while Wall Street’s consensus is a "Moderate Buy" with a $57.07 price target.

Braidwell LP acquired a new position in shares of Hinge Health Inc. (NYSE:HNGE - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 910,476 shares of the company's stock, valued at approximately $44,686,000. Hinge Health comprises approximately 1.3% of Braidwell LP's investment portfolio, making the stock its 25th biggest position. Braidwell LP owned 1.16% of Hinge Health at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. purchased a new stake in shares of Hinge Health in the 2nd quarter valued at approximately $43,840,000. Seven Grand Managers LLC purchased a new position in shares of Hinge Health during the 2nd quarter worth approximately $12,938,000. Foresite Capital Management VI LLC purchased a new position in shares of Hinge Health during the 2nd quarter worth approximately $6,986,000. Ensign Peak Advisors Inc acquired a new stake in Hinge Health in the 2nd quarter valued at approximately $16,172,000. Finally, American Century Companies Inc. purchased a new stake in Hinge Health in the second quarter valued at approximately $27,268,000.

Hinge Health Trading Up 1.2%

Shares of NYSE HNGE opened at $45.00 on Friday. The stock has a market cap of $3.54 billion and a P/E ratio of -3.51. The business's fifty day simple moving average is $41.55 and its 200-day simple moving average is $47.18. Hinge Health Inc. has a 12-month low of $30.08 and a 12-month high of $62.18.

Hinge Health (NYSE:HNGE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.45. The company had revenue of $170.73 million for the quarter, compared to analysts' expectations of $157.31 million. The business's revenue for the quarter was up 45.5% on a year-over-year basis.

Wall Street Analyst Weigh In

HNGE has been the topic of a number of research reports. Barclays decreased their price target on Hinge Health from $60.00 to $52.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 11th. Wall Street Zen upgraded Hinge Health from a "hold" rating to a "buy" rating in a report on Saturday, March 7th. Royal Bank Of Canada raised their target price on Hinge Health from $50.00 to $55.00 and gave the company an "outperform" rating in a report on Wednesday. Piper Sandler dropped their target price on Hinge Health from $71.00 to $60.00 and set an "overweight" rating for the company in a research report on Friday, January 9th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Hinge Health in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Hinge Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.07.

Insider Buying and Selling

In related news, CEO Daniel Antonio Perez sold 166,670 shares of the company's stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $48.53, for a total transaction of $8,088,495.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Gabriel M.I. Mecklenburg sold 166,666 shares of the firm's stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $45.32, for a total transaction of $7,553,303.12. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 692,157 shares of company stock valued at $31,315,523.

Hinge Health 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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