Kornitzer Capital Management Inc. KS Acquires New Shares in Hinge Health Inc. $HNGE

Key Points

• Kornitzer Capital Management initiated a new position in Hinge Health during the first quarter, buying 105,450 shares valued at about $4.07 million.
• Hinge Health reported strong quarterly results, posting EPS of $0.45 versus $0.12 expected and revenue of $182.31 million, up 47.2% year over year.
• Analysts remain broadly positive on the stock, with a consensus Moderate Buy rating and an average target price of $75.80, while insiders have also been active sellers in recent months.

Kornitzer Capital Management Inc. KS purchased a new stake in shares of Hinge Health Inc. (NYSE:HNGE - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 105,450 shares of the company's stock, valued at approximately $4,066,000. Kornitzer Capital Management Inc. KS owned approximately 0.13% of Hinge Health at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Wells Fargo & Company MN lifted its position in Hinge Health by 160.0% during the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company's stock valued at $25,000 after purchasing an additional 336 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Hinge Health in the 4th quarter worth $26,000. CENTRAL TRUST Co purchased a new stake in Hinge Health in the 1st quarter worth $37,000. First Horizon Corp raised its holdings in Hinge Health by 163.9% during the fourth quarter. First Horizon Corp now owns 855 shares of the company's stock valued at $40,000 after acquiring an additional 531 shares during the period. Finally, High Point Wealth Management LLC purchased a new position in shares of Hinge Health in the fourth quarter valued at about $46,000.

Hinge Health Price Performance

Shares of HNGE stock traded down $1.29 during trading hours on Friday, hitting $88.63. The stock had a trading volume of 1,176,302 shares, compared to its average volume of 2,156,040. The stock has a market capitalization of $6.86 billion, a price-to-earnings ratio of -7.18 and a beta of 1.13. Hinge Health Inc. has a one year low of $30.08 and a one year high of $91.07. The stock's 50-day moving average price is $65.37 and its two-hundred day moving average price is $50.18.

Hinge Health (NYSE:HNGE - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 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 during the quarter. During the same period in the previous year, the company posted $1.30 earnings per share. Hinge Health's quarterly revenue was up 47.2% on a year-over-year basis. As a group, equities research analysts predict that Hinge Health Inc. will post 1.33 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the company's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $82.83, for a total transaction of $121,484,027.61. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Daniel Antonio Perez sold 104,544 shares of Hinge Health stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $55.09, for a total transaction of $5,759,328.96. Following the completion of the transaction, the chief executive officer directly owned 35,470 shares of the company's stock, valued at $1,954,042.30. The trade was a 74.67% 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. In the last ninety days, insiders sold 3,954,433 shares of company stock worth $300,724,532. 18.92% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Zacks Research raised Hinge Health from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 13th. Royal Bank Of Canada boosted their price target on Hinge Health from $65.00 to $75.00 and gave the stock an "outperform" rating in a report on Thursday, June 11th. Canaccord Genuity Group upped their price target on Hinge Health from $65.00 to $76.00 and gave the stock a "buy" rating in a research note on Monday, June 15th. Needham & Company LLC increased their price objective on shares of Hinge Health from $63.00 to $76.00 and gave the company a "buy" rating in a report on Thursday, June 11th. Finally, Citigroup reiterated an "outperform" rating on shares of Hinge Health in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $75.80.

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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