Hinge Health Inc. $HNGE Shares Newly Acquired by M&G PLC

Key Points

• M&G PLC acquired a new 180,642-share stake in Hinge Health during the third quarter, valued at about $17.5 million, or 0.22% of the company.
• Analysts are broadly positive: Hinge Health has a consensus “Buy” rating and an average price target of $118.93, with several firms recently raising targets.
• Hinge Health reported quarterly EPS of $0.71, beating the $0.27 consensus estimate, while revenue rose 52.4% year over year to $234.97 million. Insiders also sold more than 1 million shares worth about $95.6 million during the quarter.

M&G PLC bought a new position in Hinge Health Inc. (NYSE:HNGE - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 180,642 shares of the company's stock, valued at approximately $17,522,000. M&G PLC owned 0.22% of Hinge Health at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Hinge Health during the third quarter valued at approximately $204,000. Pictet Asset Management Holding SA lifted its position in shares of Hinge Health by 9.7% in the 3rd quarter. Pictet Asset Management Holding SA now owns 6,122 shares of the company's stock valued at $595,000 after acquiring an additional 539 shares in the last quarter. Parallel Advisors LLC boosted its stake in Hinge Health by 15.1% in the 3rd quarter. Parallel Advisors LLC now owns 7,215 shares of the company's stock worth $702,000 after purchasing an additional 944 shares during the period. Alps Advisors Inc. acquired a new position in Hinge Health in the 3rd quarter worth approximately $595,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Hinge Health in the 3rd quarter worth approximately $458,000.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of Hinge Health from $130.00 to $135.00 and gave the stock a "buy" rating in a research report on Tuesday, November 3rd. Bank of America began coverage on Hinge Health in a report on Tuesday, September 29th. They issued a "buy" rating and a $110.00 target price for the company. Citizens Jmp raised their target price on Hinge Health from $96.00 to $107.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 5th. Wells Fargo & Company raised their target price on Hinge Health from $103.00 to $132.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 3rd. Finally, Canaccord Genuity Group lifted their price target on Hinge Health from $105.00 to $134.00 and gave the company a "buy" rating in a report on Tuesday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Hinge Health presently has a consensus rating of "Buy" and a consensus target price of $118.93.

Hinge Health Price Performance

NYSE:HNGE opened at $123.17 on Wednesday. Hinge Health Inc. has a one year low of $30.08 and a one year high of $124.94. The company has a fifty day moving average price of $102.11 and a 200 day moving average price of $69.64. The stock has a market cap of $9.94 billion, a P/E ratio of 62.84, a PEG ratio of 1.72 and a beta of 1.19.

Hinge Health (NYSE:HNGE - Get Free Report) last posted its quarterly earnings data on Monday, November 2nd. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.44. The company had revenue of $234.97 million for the quarter. Hinge Health had a net margin of 21.02% and a return on equity of 73.91%. The business's revenue for the quarter was up 52.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.02) EPS. As a group, equities research analysts anticipate that Hinge Health Inc. will post 1.56 EPS for the current year.

Insider Transactions at Hinge Health

In other Hinge Health news, CFO James Budge sold 55,561 shares of the firm's stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $89.45, for a total value of $4,969,931.45. Following the completion of the sale, the chief financial officer owned 349,062 shares in the company, valued at approximately $31,223,595.90. This trade represents a 13.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Perez sold 150,000 shares of Hinge Health stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $89.44, for a total value of $13,416,000.00. Following the sale, the chief executive officer directly owned 35,470 shares in the company, valued at $3,172,436.80. The trade was a 80.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 1,024,581 shares of company stock worth $95,632,761. Insiders own 18.92% of the company's stock.

Hinge Health Company Profile

Hinge Health is a digital health company focused on musculoskeletal care, including support for people with back, joint and muscle pain. Its services are designed to help members manage conditions through personalized, technology-enabled care. The company's offerings include app-based exercise therapy, education and behavioral support, along with access to clinical care teams. Hinge Health also uses wearable motion sensors in some programs to guide and track exercises. Founded in 2015, Hinge Health primarily provides its services through employers and health plans.

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