Hinge Health Inc. $HNGE Stock Sold by Summit Creek Advisors LLC

Key Points

• Summit Creek Advisors cut its Hinge Health stake by 15.4% in the third quarter, selling 9,255 shares; it retained 50,648 shares valued at about $4.9 million.
• Hinge Health reported quarterly EPS of $0.71, well above the $0.27 consensus, while revenue rose 52.4% year over year to $234.97 million. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $118.93.
• Company insiders sold about 1.02 million shares worth $95.6 million over the past 90 days; the chairman’s 200,000-share sale was made under a pre-arranged Rule 10b5-1 plan.

Summit Creek Advisors LLC reduced its stake in shares of Hinge Health Inc. (NYSE:HNGE - Free Report) by 15.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 50,648 shares of the company's stock after selling 9,255 shares during the period. Hinge Health makes up approximately 2.0% of Summit Creek Advisors LLC's holdings, making the stock its 27th biggest holding. Summit Creek Advisors LLC owned 0.06% of Hinge Health worth $4,925,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of HNGE. 11.2 Capital Management LLC acquired a new position in shares of Hinge Health in the second quarter valued at approximately $204,566,531. Assenagon Asset Management S.A. raised its holdings in shares of 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 worth $180,373,000 after acquiring an additional 1,772,182 shares during the period. Wellington Management Group LLP raised its holdings in shares of Hinge Health by 169.7% during the second quarter. Wellington Management Group LLP now owns 1,205,584 shares of the company's stock worth $100,063,000 after acquiring an additional 758,594 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Hinge Health by 225.7% in the 1st 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 in the last quarter. Finally, Estuary Capital Management LP bought a new stake in Hinge Health in the 1st quarter valued at $15,201,000.

Insider Buying and Selling

In related news, Chairman Gabriel Mecklenburg sold 200,000 shares of the company's stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $103.13, for a total transaction of $20,626,000.00. Following the sale, the chairman owned 200,000 shares in the company, valued at approximately $20,626,000. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President James Pursley sold 33,000 shares of the stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $94.14, for a total value of $3,106,620.00. Following the transaction, the president directly owned 666,909 shares of the company's stock, valued at $62,782,813.26. This trade represents a 4.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 worth $95,632,761. Insiders own 18.92% of the company's stock.

Hinge Health Trading Down 0.2%

Shares of HNGE stock opened at $115.75 on Friday. The firm's fifty day moving average price is $100.80 and its two-hundred day moving average price is $68.84. Hinge Health Inc. has a 1 year low of $30.08 and a 1 year high of $124.94. The firm has a market capitalization of $9.34 billion, a P/E ratio of 59.06, a PEG ratio of 2.03 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 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.44. The company had revenue of $234.97 million during the quarter. Hinge Health had a net margin of 21.02% and a return on equity of 73.91%. The company's quarterly revenue was up 52.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.02) earnings per share. As a group, equities research analysts forecast that Hinge Health Inc. will post 1.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on HNGE shares. Morgan Stanley upped their target price on shares of Hinge Health from $117.00 to $131.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 3rd. Robert W. Baird lifted their price target on Hinge Health from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Tuesday, September 22nd. Royal Bank Of Canada boosted their price target on Hinge Health from $110.00 to $135.00 and gave the company an "outperform" rating in a report on Tuesday, November 3rd. Stifel Nicolaus upped their price objective on Hinge Health from $130.00 to $135.00 and gave the stock a "buy" rating in a research report on Tuesday, November 3rd. Finally, Weiss Ratings downgraded Hinge Health from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $118.93.

About Hinge Health

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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