Hinge Health Inc. $HNGE Shares Sold by Seven Grand Managers LLC

Key Points

• Seven Grand Managers cut its Hinge Health stake by 20% in the fourth quarter, selling 50,000 shares and leaving it with 200,000 shares valued at about $9.29 million.
• Several other institutions boosted or initiated positions, including Vanguard Group, which more than doubled its holdings to 2.61 million shares, signaling continued institutional interest.
• Hinge Health shares were up about 1% to $53.49, while analysts remain broadly bullish with a consensus Moderate Buy rating and an average target price of $67.40.

Seven Grand Managers LLC lowered its position in shares of Hinge Health Inc. (NYSE:HNGE - Free Report) by 20.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 200,000 shares of the company's stock after selling 50,000 shares during the period. Seven Grand Managers LLC owned approximately 0.25% of Hinge Health worth $9,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Hinge Health by 110.5% during the 4th quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company's stock worth $121,027,000 after buying an additional 1,367,693 shares during the last quarter. BIT Capital GmbH boosted its position in shares of Hinge Health by 144.6% during the 3rd quarter. BIT Capital GmbH now owns 1,849,524 shares of the company's stock worth $90,775,000 after purchasing an additional 1,093,320 shares during the period. Bamco Inc. NY purchased a new position in shares of Hinge Health during the 2nd quarter worth approximately $48,943,000. Braidwell LP purchased a new position in shares of Hinge Health during the 3rd quarter worth approximately $44,686,000. Finally, Ameriprise Financial Inc. purchased a new position in shares of Hinge Health during the 2nd quarter worth approximately $27,040,000.

Insider Activity

In other news, Chairman Gabriel M.I. Mecklenburg sold 83,333 shares of Hinge Health stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $53.79, for a total transaction of $4,482,482.07. Following the completion of the sale, the chairman directly owned 83,333 shares of the company's stock, valued at approximately $4,482,482.07. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO James Budge sold 5,907 shares of Hinge Health stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $53.79, for a total transaction of $317,737.53. Following the sale, the chief financial officer directly owned 445,386 shares of the company's stock, valued at approximately $23,957,312.94. This trade represents a 1.31% decrease in their ownership of the stock. 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. Insiders sold a total of 587,932 shares of company stock valued at $29,116,997 in the last 90 days. Company insiders own 18.92% of the company's stock.

Hinge Health Trading Up 1.0%

Hinge Health stock opened at $53.49 on Thursday. The stock has a market cap of $4.14 billion and a P/E ratio of -4.33. The company has a fifty day simple moving average of $45.61 and a 200-day simple moving average of $44.52. Hinge Health Inc. has a 12-month low of $30.08 and a 12-month high of $62.18.

Hinge Health (NYSE:HNGE - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.33. The business 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%. Hinge Health's revenue for the quarter was up 47.2% on a year-over-year basis. During the same period last year, the firm posted $1.30 earnings per share. As a group, sell-side analysts forecast that Hinge Health Inc. will post 1.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada increased their price objective on shares of Hinge Health from $55.00 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. Evercore reaffirmed an "outperform" rating and set a $45.00 price objective on shares of Hinge Health in a research report on Wednesday, April 8th. Canaccord Genuity Group increased their price objective on shares of Hinge Health from $53.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Raymond James Financial reaffirmed an "outperform" rating and set a $70.00 price objective on shares of Hinge Health in a research report on Wednesday, May 6th. Finally, Wall Street Zen raised shares of Hinge Health from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $67.40.

About Hinge Health

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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