Emerald Advisers LLC Takes $10.75 Million Position in Hinge Health Inc. $HNGE

Key Points

• Emerald Advisers LLC opened a new position in Hinge Health during the first quarter, buying 278,890 shares worth about $10.75 million. The stake represented roughly 0.35% of the company.
• Insider selling has been heavy: Chairman Gabriel M.I. Mecklenburg and major shareholder Insight Holdings Group recently sold large blocks of stock, and insiders sold about 3.95 million shares worth more than $300 million over the last 90 days.
• Despite the selling, analysts remain generally constructive on Hinge Health, with a consensus rating of “Moderate Buy” and an average price target of $82.67. The company also reported strong quarterly results, including EPS of $0.45 versus estimates of $0.12 and revenue up 47.2% year over year.

Emerald Advisers LLC bought a new stake in Hinge Health Inc. (NYSE:HNGE - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 278,890 shares of the company's stock, valued at approximately $10,754,000. Emerald Advisers LLC owned 0.35% of Hinge Health as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its stake in Hinge Health by 160.0% in the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company's stock valued at $25,000 after buying an additional 336 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Hinge Health during the fourth quarter worth approximately $26,000. CENTRAL TRUST Co acquired a new position in shares of Hinge Health in the 1st quarter valued at $37,000. First Horizon Corp raised its position in Hinge Health by 163.9% in the 4th quarter. First Horizon Corp now owns 855 shares of the company's stock valued at $40,000 after purchasing an additional 531 shares during the last quarter. Finally, High Point Wealth Management LLC purchased a new stake in Hinge Health in the 4th quarter valued at $46,000.

Insider Buying and Selling

In other Hinge Health news, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $60.22, for a total transaction of $5,018,373.48. Following the transaction, the chairman owned 83,334 shares in the company, valued at approximately $5,018,373.48. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 1,466,667 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $82.83, for a total value of $121,484,027.61. The disclosure for this sale is available in the SEC filing. Insiders sold 3,954,433 shares of company stock valued at $300,724,532 over the last ninety days. Corporate insiders own 18.92% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HNGE. Wall Street Zen downgraded shares of Hinge Health from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 6th. Robert W. Baird upped their target price on shares of Hinge Health from $55.00 to $65.00 and gave the company a "neutral" rating in a report on Wednesday, June 17th. Citigroup reiterated an "outperform" rating on shares of Hinge Health in a research note on Wednesday, May 6th. Barclays raised their price target on Hinge Health from $70.00 to $97.00 and gave the stock an "overweight" rating in a report on Monday. Finally, KeyCorp boosted their price target on Hinge Health from $90.00 to $125.00 and gave the company an "overweight" rating in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $82.67.

Hinge Health Stock Performance

Shares of HNGE opened at $90.03 on Tuesday. The stock has a market capitalization of $6.97 billion, a P/E ratio of -7.30 and a beta of 1.13. The company's fifty day moving average is $66.28 and its two-hundred day moving average is $50.48. Hinge Health Inc. has a 1 year low of $30.08 and a 1 year high of $91.50.

Hinge Health (NYSE:HNGE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, topping 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 net margin of 78.95% and a negative return on equity of 310.62%. The firm's quarterly revenue was up 47.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 EPS. Sell-side analysts predict that Hinge Health Inc. will post 1.33 EPS for the current year.

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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