Hinge Health Inc. $HNGE Shares Acquired by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets boosted its Hinge Health stake by 162.7% in the fourth quarter, ending with 727,672 shares valued at about $33.8 million.
• Several other institutions also increased their positions, including Vanguard and BIT Capital, while analysts have kept a generally bullish stance with a consensus “Moderate Buy” and a target price of $67.40.
• Insider selling picked up recently: Chairman Gabriel M.I. Mecklenburg and President James Pursley both sold shares under pre-arranged trading plans, even as Hinge Health reported strong quarterly revenue growth of 47.2% and beat EPS estimates.

BNP Paribas Financial Markets increased its stake in Hinge Health Inc. (NYSE:HNGE - Free Report) by 162.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 727,672 shares of the company's stock after acquiring an additional 450,643 shares during the period. BNP Paribas Financial Markets owned approximately 0.92% of Hinge Health worth $33,800,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Hinge Health by 110.5% in the fourth quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company's stock valued at $121,027,000 after buying an additional 1,367,693 shares during the period. BIT Capital GmbH raised its holdings in Hinge Health by 144.6% in the third quarter. BIT Capital GmbH now owns 1,849,524 shares of the company's stock valued at $90,775,000 after buying an additional 1,093,320 shares during the period. Bamco Inc. NY purchased a new position in Hinge Health in the second quarter valued at approximately $48,943,000. Braidwell LP purchased a new position in Hinge Health in the third quarter valued at approximately $44,686,000. Finally, Ameriprise Financial Inc. purchased a new position in Hinge Health in the second quarter valued at approximately $27,040,000.

Analysts Set New Price Targets

HNGE has been the topic of several research reports. Weiss Ratings upgraded shares of Hinge Health from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, May 6th. KeyCorp set a $55.00 price objective on shares of Hinge Health in a research note on Wednesday, February 11th. Wells Fargo & Company lifted their price objective on shares of Hinge Health from $68.00 to $80.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Citizens Jmp lifted their price objective on shares of Hinge Health from $65.00 to $80.00 and gave the company a "market outperform" rating in a research note on Wednesday, May 6th. Finally, Barclays lifted their price objective on shares of Hinge Health from $52.00 to $62.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Hinge Health currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.40.

Insider Activity at Hinge Health

In related news, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of Hinge Health stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $60.22, for a total transaction of $5,018,373.48. Following the sale, the chairman directly owned 83,334 shares in the company, valued at $5,018,373.48. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President James Pursley sold 16,000 shares of Hinge Health stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $53.79, for a total transaction of $860,640.00. Following the sale, the president owned 780,223 shares in the company, valued at approximately $41,968,195.17. This represents a 2.01% 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 671,266 shares of company stock valued at $34,135,371 in the last ninety days. Company insiders own 18.92% of the company's stock.

Hinge Health Stock Performance

HNGE stock opened at $58.62 on Thursday. The stock has a market capitalization of $4.54 billion and a price-to-earnings ratio of -4.75. Hinge Health Inc. has a 1 year low of $30.08 and a 1 year high of $62.18. The stock's fifty day moving average is $47.02 and its two-hundred day moving average is $45.03.

Hinge Health (NYSE:HNGE - Get Free Report) last posted its earnings results 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. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.The company had revenue of $182.31 million for the quarter. During the same quarter in the previous year, the business posted $1.30 earnings per share. The business's quarterly revenue was up 47.2% compared to the same quarter last year. As a group, analysts predict that Hinge Health Inc. will post 1.21 EPS for the current fiscal 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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