Robeco Institutional Asset Management B.V. Acquires New Holdings in Hinge Health Inc. $HNGE

Key Points

• Robeco Institutional Asset Management acquired 22,040 Hinge Health shares in the third quarter, worth approximately $2.14 million. Other institutional investors also significantly increased their positions, indicating strong institutional interest.
• Hinge Health reported quarterly revenue of $212.82 million, up 53% year over year, and earnings of $0.59 per share, surpassing analysts’ $0.28 estimate. Shares opened at $111.47, near their 52-week high of $113.48.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $107, while insiders sold more than 1.02 million shares worth approximately $95.6 million over the past 90 days.

Robeco Institutional Asset Management B.V. purchased a new position in shares of Hinge Health Inc. (NYSE:HNGE - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,040 shares of the company's stock, valued at approximately $2,143,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. 11.2 Capital Management LLC purchased a new stake in shares of Hinge Health during the second quarter valued at approximately $204,566,531. Assenagon Asset Management S.A. lifted its holdings 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 worth $180,373,000 after acquiring an additional 1,772,182 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Hinge Health by 225.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company's stock worth $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 second 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 during the last quarter. Finally, Estuary Capital Management LP purchased a new position in Hinge Health in the first quarter worth $15,201,000.

Hinge Health Stock Performance

Shares of HNGE stock opened at $111.47 on Monday. Hinge Health Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $113.48. The firm has a market cap of $8.99 billion, a P/E ratio of 87.09 and a beta of 1.37. The business's 50 day moving average price is $95.56 and its 200-day moving average price is $76.17.

Hinge Health (NYSE:HNGE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.28 by $0.31. Hinge Health had a net margin of 15.15% and a return on equity of 51.60%. The business had revenue of $212.82 million during the quarter. During the same quarter last year, the business earned $0.59 earnings per share. The business's quarterly revenue was up 53.0% on a year-over-year basis. As a group, equities analysts predict that Hinge Health Inc. will post 1.25 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Royal Bank Of Canada increased their price target on Hinge Health from $75.00 to $110.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. Stifel Nicolaus upped their price objective on shares of Hinge Health from $96.00 to $115.00 and gave the company a "buy" rating in a report on Tuesday, September 8th. Weiss Ratings downgraded shares of Hinge Health from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, October 8th. Morgan Stanley increased their target price on shares of Hinge Health from $72.00 to $108.00 and gave the stock an "overweight" rating in a research report on Monday, July 13th. Finally, Wall Street Zen downgraded shares of Hinge Health from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Hinge Health currently has a consensus rating of "Moderate Buy" and an average target price of $107.00.

Insiders Place Their Bets

In other Hinge Health news, President James Pursley sold 33,000 shares of Hinge Health 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 completion of the sale, the president owned 666,909 shares of the company's stock, valued at approximately $62,782,813.26. The trade was a 4.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Perez sold 4,100 shares of the company's stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $100.20, for a total value of $410,820.00. Following the sale, the chief executive officer owned 4,100 shares of the company's stock, valued at approximately $410,820. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,024,581 shares of company stock worth $95,632,761 in the last 90 days. 18.92% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.