Healthcare of Ontario Pension Plan Trust Fund Has $5.47 Million Stake in Hinge Health Inc. $HNGE

Key Points

• Healthcare of Ontario Pension Plan Trust Fund reduced its Hinge Health stake by 21.1% in the first quarter, selling 38,047 shares and retaining 141,881 shares worth approximately $5.47 million.
• Analysts remain broadly bullish, with Hinge Health receiving a “Moderate Buy” consensus rating and an average price target of $86.07; several firms recently raised their targets.
• Hinge Health reported quarterly revenue of $182.31 million, up 47.2% year over year, and EPS of $0.45 versus expectations of $0.12. However, insiders sold nearly 3.92 million shares worth about $299.2 million over the past 90 days.

Healthcare of Ontario Pension Plan Trust Fund lowered its stake in shares of Hinge Health Inc. (NYSE:HNGE - Free Report) by 21.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 141,881 shares of the company's stock after selling 38,047 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.18% of Hinge Health worth $5,471,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of HNGE. Wells Fargo & Company MN raised its position in shares of Hinge Health by 160.0% in the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company's stock valued at $25,000 after acquiring an additional 336 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Hinge Health during the 4th quarter worth approximately $26,000. CENTRAL TRUST Co acquired a new position in Hinge Health during the first quarter valued at approximately $37,000. First Horizon Corp increased its stake in Hinge Health by 163.9% in the fourth quarter. First Horizon Corp now owns 855 shares of the company's stock valued at $40,000 after purchasing an additional 531 shares in the last quarter. Finally, High Point Wealth Management LLC bought a new stake in Hinge Health in the fourth quarter valued at approximately $46,000.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HNGE. Citizens Jmp boosted their price target on shares of Hinge Health from $80.00 to $96.00 and gave the company a "market outperform" rating in a report on Monday. Citigroup reaffirmed an "outperform" rating on shares of Hinge Health in a research note on Monday. Piper Sandler reissued an "overweight" rating on shares of Hinge Health in a research note on Wednesday, June 10th. Robert W. Baird increased their price target on Hinge Health from $55.00 to $65.00 and gave the stock a "neutral" rating in a report on Wednesday, June 17th. Finally, Royal Bank Of Canada increased their price target on Hinge Health from $65.00 to $75.00 and gave the stock an "outperform" rating in a report on Thursday, June 11th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Hinge Health currently has an average rating of "Moderate Buy" and a consensus target price of $86.07.

Insider Buying and Selling at Hinge Health

In other news, major shareholder Insight Holdings Group, Llc sold 181,499 shares of the company's stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $90.20, for a total transaction of $16,371,209.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President James Pursley sold 33,000 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $69.31, for a total value of $2,287,230.00. Following the transaction, the president owned 740,897 shares of the company's stock, valued at approximately $51,351,571.07. The trade was a 4.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 3,921,100 shares of company stock valued at $299,222,881 in the last 90 days. 18.92% of the stock is currently owned by company insiders.

Hinge Health Stock Down 1.3%

Shares of HNGE stock opened at $74.26 on Thursday. The firm has a fifty day moving average of $72.75 and a 200-day moving average of $53.33. Hinge Health Inc. has a 12-month low of $30.08 and a 12-month high of $91.50. The company has a market capitalization of $5.75 billion, a price-to-earnings ratio of -6.02 and a beta of 1.13.

Hinge Health (NYSE:HNGE - Get Free Report) last issued 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 business had revenue of $182.31 million for the quarter. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The company's revenue was up 47.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.30 earnings per share. On average, equities analysts expect that Hinge Health Inc. will post 1.37 EPS for the current 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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