Bullseye Asset Management LLC Acquires Shares of 41,763 Hinge Health Inc. $HNGE

Key Points

• Bullseye Asset Management disclosed a new fourth-quarter stake in Hinge Health, buying 41,763 shares valued at about $1.94 million, according to its latest 13F filing.
• Insiders have been selling shares: CEO Daniel Antonio Perez and Chairman Gabriel M.I. Mecklenburg both sold stock in pre-arranged Rule 10b5-1 transactions, and insiders sold 554,600 shares worth nearly $29.9 million over the last three months.
• Analysts remain upbeat on Hinge Health, with several firms raising price targets; the stock has a consensus rating of Moderate Buy and an average target price of $73.13.

Bullseye Asset Management LLC bought a new stake in shares of Hinge Health Inc. (NYSE:HNGE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 41,763 shares of the company's stock, valued at approximately $1,940,000. Bullseye Asset Management LLC owned approximately 0.05% of Hinge Health as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wells Fargo & Company MN raised its holdings in shares of Hinge Health by 160.0% during the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company's stock valued at $25,000 after acquiring an additional 336 shares in the last quarter. First Horizon Corp raised its holdings in shares of Hinge Health by 163.9% during the fourth quarter. First Horizon Corp now owns 855 shares of the company's stock valued at $40,000 after acquiring an additional 531 shares in the last quarter. Sandler Capital Management raised its holdings in shares of Hinge Health by 1.4% during the third quarter. Sandler Capital Management now owns 52,728 shares of the company's stock valued at $2,588,000 after acquiring an additional 728 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Hinge Health by 348.0% during the third quarter. Jones Financial Companies Lllp now owns 1,120 shares of the company's stock valued at $54,000 after acquiring an additional 870 shares in the last quarter. Finally, Strategic Blueprint LLC raised its holdings in shares of Hinge Health by 8.0% during the fourth quarter. Strategic Blueprint LLC now owns 12,319 shares of the company's stock valued at $572,000 after acquiring an additional 915 shares in the last quarter.

Insider Buying and Selling

In other news, CEO Daniel Antonio Perez sold 45,456 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $55.05, for a total value of $2,502,352.80. Following the sale, the chief executive officer directly owned 35,470 shares of the company's stock, valued at approximately $1,952,623.50. This represents a 56.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Gabriel M.I. Mecklenburg sold 50,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $65.54, for a total value of $3,277,000.00. Following the completion of the sale, the chairman directly owned 50,000 shares in the company, valued at approximately $3,277,000. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 554,600 shares of company stock valued at $29,859,068. Insiders own 18.92% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wells Fargo & Company upped their target price on Hinge Health from $68.00 to $80.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Barclays upped their target price on Hinge Health from $62.00 to $70.00 and gave the company an "overweight" rating in a report on Thursday. KeyCorp upped their target price on Hinge Health from $75.00 to $90.00 and gave the company an "overweight" rating in a report on Friday. Evercore reaffirmed an "outperform" rating and issued a $45.00 price target on shares of Hinge Health in a research note on Wednesday, April 8th. Finally, Canaccord Genuity Group upped their price target on Hinge Health from $63.00 to $65.00 and gave the stock a "buy" rating in a research note on Thursday, June 4th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $73.13.

Hinge Health Stock Up 1.1%

Shares of HNGE stock opened at $65.48 on Friday. Hinge Health Inc. has a twelve month low of $30.08 and a twelve month high of $66.90. The stock has a market cap of $5.07 billion and a price-to-earnings ratio of -5.31. The business's fifty day moving average is $50.48 and its 200 day moving average is $46.01.

Hinge Health (NYSE:HNGE - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.33. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.The firm had revenue of $182.31 million for the quarter. During the same period in the prior year, the company posted $1.30 earnings per share. The company's revenue was up 47.2% on a year-over-year basis. Equities research analysts expect that Hinge Health Inc. will post 1.21 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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