Hinge Health Inc. $HNGE Shares Newly Bought by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments initiated a Hinge Health position, buying 25,919 shares worth about $2.52 million in the third quarter. Other institutions also increased holdings, including Assenagon, which raised its position by more than 2,100%.
• Hinge Health reported quarterly EPS of $0.71, beating the $0.27 consensus, while revenue rose 52.4% year over year to $234.97 million.
• Company insiders sold about 1.02 million shares worth $95.6 million over the past 90 days. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $118.93.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Hinge Health Inc. (NYSE:HNGE - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 25,919 shares of the company's stock, valued at approximately $2,520,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. 11.2 Capital Management LLC acquired a new stake in Hinge Health during the second quarter worth about $204,566,531. Assenagon Asset Management S.A. raised its position in Hinge Health by 2,141.9% during the third quarter. Assenagon Asset Management S.A. now owns 1,854,922 shares of the company's stock valued at $180,373,000 after acquiring an additional 1,772,182 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Hinge Health by 225.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company's stock valued at $44,852,000 after acquiring an additional 806,007 shares during the period. Wellington Management Group LLP boosted its position in Hinge Health by 169.7% in the 2nd quarter. Wellington Management Group LLP now owns 1,205,584 shares of the company's stock worth $100,063,000 after purchasing an additional 758,594 shares in the last quarter. Finally, Estuary Capital Management LP purchased a new stake in Hinge Health in the 1st quarter worth approximately $15,201,000.

Hinge Health Price Performance

Hinge Health stock opened at $115.75 on Friday. The stock has a market capitalization of $9.34 billion, a PE ratio of 59.06, a price-to-earnings-growth ratio of 2.03 and a beta of 1.19. The business has a 50 day simple moving average of $100.80 and a 200-day simple moving average of $68.84. Hinge Health Inc. has a 12 month low of $30.08 and a 12 month high of $124.94.

Hinge Health (NYSE:HNGE - Get Free Report) last announced its earnings results on Monday, November 2nd. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.44. Hinge Health had a return on equity of 73.91% and a net margin of 21.02%. The firm had revenue of $234.97 million for the quarter. During the same quarter last year, the business earned ($0.02) EPS. The company's quarterly revenue was up 52.4% on a year-over-year basis. On average, equities research analysts anticipate that Hinge Health Inc. will post 1.56 EPS for the current fiscal year.

Insider Activity at Hinge Health

In other news, CEO Daniel Perez sold 150,000 shares of Hinge Health stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $89.44, for a total value of $13,416,000.00. Following the sale, the chief executive officer owned 35,470 shares in the company, valued at $3,172,436.80. This trade represents a 80.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President James Pursley sold 33,000 shares of the business's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $88.05, for a total transaction of $2,905,650.00. Following the sale, the president directly owned 706,235 shares of the company's stock, valued at $62,183,991.75. This represents a 4.46% 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. Over the last ninety days, insiders have sold 1,024,581 shares of company stock valued at $95,632,761. Insiders own 18.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada lifted their target price on shares of Hinge Health from $110.00 to $135.00 and gave the company an "outperform" rating in a report on Tuesday, November 3rd. KeyCorp increased their price target on shares of Hinge Health from $125.00 to $140.00 and gave the stock an "overweight" rating in a report on Friday, October 16th. Wells Fargo & Company raised their price target on shares of Hinge Health from $103.00 to $132.00 and gave the company an "overweight" rating in a research report on Tuesday. Weiss Ratings cut shares of Hinge Health from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, October 8th. Finally, Bank of America initiated coverage on shares of Hinge Health in a research report on Tuesday, September 29th. They issued a "buy" rating and a $110.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $118.93.

Hinge Health Company Profile

Hinge Health is a digital healthcare company focused on musculoskeletal (MSK) conditions, including back and joint pain. The company provides virtual care programs designed to help members manage pain, improve mobility and reduce the need for more costly or invasive treatments.

Its platform combines personalized exercise therapy, behavioral support, education and access to clinical professionals. Hinge Health also uses technologies such as motion-sensing wearable devices and artificial intelligence to help guide exercises, monitor progress and tailor care plans to individual needs.

Hinge Health primarily serves employers and health plans, which offer its programs to eligible members in the United States.

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