Tidal Investments LLC Invests $925,000 in Hinge Health Inc. $HNGE

Key Points

• Tidal Investments initiated a $925,000 stake in Hinge Health during the second quarter, joining several other institutional investors that also increased or began positions in the company.
• Hinge Health reported quarterly EPS of $0.59, beating estimates of $0.28, while revenue reached $212.82 million, up 53% year over year. The company posted a 15.15% net margin and 51.60% return on equity.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $101.93. However, insiders have sold roughly 4.15 million shares worth $335.8 million over the past 90 days.

Tidal Investments LLC purchased a new stake in shares of Hinge Health Inc. (NYSE:HNGE - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 11,145 shares of the company's stock, valued at approximately $925,000.

A number of other hedge funds have also recently modified their holdings of HNGE. Van Hulzen Asset Management LLC grew its holdings in Hinge Health by 69.0% during the second quarter. Van Hulzen Asset Management LLC now owns 13,473 shares of the company's stock valued at $1,118,000 after purchasing an additional 5,500 shares during the period. Engineers Gate Manager LP purchased a new position in shares of Hinge Health in the second quarter worth $373,000. IFP Advisors Inc grew its position in shares of Hinge Health by 140.0% during the second quarter. IFP Advisors Inc now owns 324 shares of the company's stock valued at $27,000 after purchasing an additional 189 shares in the last quarter. Arizona State Retirement System bought a new stake in shares of Hinge Health in the second quarter worth about $876,000. Finally, Nykredit A S purchased a new position in shares of Hinge Health in the 2nd quarter worth $29,000.

Hinge Health Price Performance

Shares of NYSE:HNGE opened at $95.11 on Friday. The business's 50 day moving average price is $86.66 and its 200-day moving average price is $65.81. Hinge Health Inc. has a 1 year low of $30.08 and a 1 year high of $96.66. The firm has a market capitalization of $7.67 billion, a PE ratio of 74.31 and a beta of 1.38.

Hinge Health (NYSE:HNGE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.31. The firm had revenue of $212.82 million during the quarter. Hinge Health had a net margin of 15.15% and a return on equity of 51.60%. The company's revenue for the quarter was up 53.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.59 EPS. As a group, analysts expect that Hinge Health Inc. will post 1.25 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Daniel Perez sold 150,000 shares of the firm's stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $89.44, for a total transaction of $13,416,000.00. Following the completion of the transaction, the chief executive officer directly owned 35,470 shares in the company, valued at $3,172,436.80. This trade represents a 80.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the firm's stock in a transaction that occurred 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 SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 4,150,019 shares of company stock valued at $335,841,156. Corporate insiders own 18.92% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on HNGE shares. Canaccord Genuity Group set a $105.00 price target on Hinge Health in a research note on Wednesday, August 5th. Evercore reiterated an "outperform" rating and set a $105.00 price objective on shares of Hinge Health in a research note on Wednesday, August 5th. Royal Bank Of Canada increased their price objective on shares of Hinge Health from $75.00 to $110.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Raymond James Financial boosted their price target on Hinge Health from $70.00 to $80.00 and gave the company an "outperform" rating in a research note on Monday, June 15th. Finally, Needham & Company LLC upped their price target on shares of Hinge Health from $76.00 to $97.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $101.93.

Hinge Health Company Profile

Hinge Health, Inc is a digital health company focused on musculoskeletal care. The company provides virtual programs designed to help people manage and improve conditions affecting the back, joints and other areas of the musculoskeletal system, with the goal of supporting conservative care and reducing the need for more invasive treatment.

Its platform combines personalized exercise therapy, digital tools, clinical guidance and behavioral support. Depending on the program, members may use the Hinge Health mobile application, wearable motion sensors and remote care from physical therapists, health coaches and other clinicians.

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