Tyro Capital Management LLC Invests $15.66 Million in Hinge Health Inc. $HNGE

Key Points

• Tyro Capital Management bought 319,076 shares of Hinge Health in Q3, a new stake valued at about $15.66 million that represents roughly 5.8% of Tyro’s portfolio and 0.41% of HNGE outstanding.
• Hinge Health beat estimates with $0.49 EPS (vs. $0.04 consensus) and revenue of $170.73 million, up 45.5% year-over-year.
• The board authorized a $250 million share repurchase program to buy up to about 7.2% of outstanding stock, signaling management confidence in the shares.

Tyro Capital Management LLC bought a new stake in Hinge Health Inc. (NYSE:HNGE - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 319,076 shares of the company's stock, valued at approximately $15,660,000. Hinge Health accounts for about 5.8% of Tyro Capital Management LLC's investment portfolio, making the stock its 9th biggest holding. Tyro Capital Management LLC owned 0.41% of Hinge Health as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in Hinge Health in the 3rd quarter worth $37,000. Montag A & Associates Inc. acquired a new stake in shares of Hinge Health during the second quarter valued at about $41,000. SBI Securities Co. Ltd. purchased a new stake in shares of Hinge Health during the second quarter worth about $48,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Hinge Health in the third quarter worth about $49,000. Finally, Jones Financial Companies Lllp boosted its holdings in Hinge Health by 348.0% in the third quarter. Jones Financial Companies Lllp now owns 1,120 shares of the company's stock valued at $54,000 after purchasing an additional 870 shares during the last quarter.

Hinge Health Stock Down 0.3%

Shares of NYSE HNGE opened at $46.02 on Tuesday. The stock's 50 day moving average price is $41.63 and its two-hundred day moving average price is $47.42. Hinge Health Inc. has a 52-week low of $30.08 and a 52-week high of $62.18. The stock has a market capitalization of $3.62 billion and a P/E ratio of -3.59.

Hinge Health (NYSE:HNGE - Get Free Report) last issued its earnings results on Tuesday, February 10th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.04 by $0.45. The firm had revenue of $170.73 million during the quarter, compared to analyst estimates of $157.31 million. The company's revenue for the quarter was up 45.5% on a year-over-year basis.

Hinge Health announced that its board has authorized a stock repurchase program on Wednesday, November 12th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to buy up to 7.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In other Hinge Health news, CFO James Budge sold 10,491 shares of Hinge Health stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $48.41, for a total value of $507,869.31. Following the completion of the transaction, the chief financial officer owned 441,174 shares of the company's stock, valued at $21,357,233.34. The trade was a 2.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Daniel Antonio Perez sold 166,670 shares of the business's stock in a transaction on Monday, December 15th. The shares were sold at an average price of $48.53, for a total transaction of $8,088,495.10. The SEC filing for this sale provides additional information. Insiders have sold 525,491 shares of company stock worth $23,762,220 over the last ninety days.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HNGE. KeyCorp set a $55.00 price objective on Hinge Health in a report on Wednesday, February 11th. Stifel Nicolaus set a $59.00 target price on Hinge Health in a research note on Thursday, February 5th. Wells Fargo & Company began coverage on shares of Hinge Health in a research report on Thursday, January 8th. They set an "overweight" rating and a $68.00 price target for the company. Royal Bank Of Canada cut their price target on shares of Hinge Health from $60.00 to $50.00 and set an "outperform" rating on the stock in a report on Wednesday, February 11th. Finally, Wall Street Zen upgraded shares of Hinge Health from a "hold" rating to a "buy" rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Hinge Health presently has a consensus rating of "Moderate Buy" and an average price target of $56.73.

Hinge Health Company 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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