Vista Investment Partners LLC Acquires 12,232 Shares of Hinge Health Inc. $HNGE

Key Points

• Vista Investment Partners increased its Hinge Health stake by 29.3% in the third quarter, acquiring 12,232 shares and bringing its holdings to 54,021 shares valued at approximately $5.25 million.
• Other institutional investors also expanded their positions, including Wellington Management, Arrowstreet Capital and Alkeon Capital, while insiders sold 776,861 shares worth about $70.1 million over the past 90 days.
• Hinge Health reported quarterly EPS of $0.59, beating estimates of $0.28, while revenue rose 53% year over year to $212.8 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $105.33.

Vista Investment Partners LLC grew its holdings in Hinge Health Inc. (NYSE:HNGE - Free Report) by 29.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 54,021 shares of the company's stock after acquiring an additional 12,232 shares during the quarter. Hinge Health comprises 1.3% of Vista Investment Partners LLC's investment portfolio, making the stock its 21st biggest holding. Vista Investment Partners LLC owned about 0.07% of Hinge Health worth $5,252,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. 11.2 Capital Management LLC purchased a new stake in shares of Hinge Health during the 2nd quarter worth approximately $204,566,531. Wellington Management Group LLP boosted its stake 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 valued at $100,063,000 after acquiring an additional 758,594 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of 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 purchasing an additional 806,007 shares during the last quarter. Alkeon Capital Management LLC increased its position in shares of Hinge Health by 110.4% during the fourth quarter. Alkeon Capital Management LLC now owns 791,104 shares of the company's stock worth $36,747,000 after purchasing an additional 415,093 shares in the last quarter. Finally, Estuary Capital Management LP purchased a new stake in shares of Hinge Health in the 1st quarter valued at about $15,201,000.

Insiders Place Their Bets

In related news, President James Pursley sold 33,000 shares of Hinge Health stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $94.14, for a total value of $3,106,620.00. Following the sale, the president directly owned 666,909 shares in the company, valued at $62,782,813.26. The trade was a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kristina Leslie sold 1,200 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $88.23, for a total value of $105,876.00. Following the completion of the transaction, the director owned 30,387 shares of the company's stock, valued at $2,681,045.01. The trade was a 3.80% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 776,861 shares of company stock worth $70,085,397. Corporate insiders own 18.92% of the company's stock.

Hinge Health Price Performance

Shares of HNGE stock traded up $0.37 during mid-day trading on Thursday, hitting $98.23. The stock had a trading volume of 369,362 shares, compared to its average volume of 1,597,265. The firm has a market cap of $7.93 billion, a PE ratio of 76.51 and a beta of 1.37. The company's 50-day simple moving average is $90.23 and its 200-day simple moving average is $70.59. Hinge Health Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $100.36.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HNGE. Raymond James Financial raised their price target on Hinge Health from $70.00 to $80.00 and gave the stock an "outperform" rating in a research note on Monday, June 15th. Truist Financial raised their target price on shares of Hinge Health from $85.00 to $112.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Canaccord Genuity Group set a $105.00 price target on shares of Hinge Health in a research report on Wednesday, August 5th. Wall Street Zen downgraded shares of Hinge Health from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Citigroup restated an "outperform" rating on shares of Hinge Health in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $105.33.

About Hinge Health

Hinge Health, Inc is a digital healthcare company focused on musculoskeletal (MSK) conditions, including back and joint pain. The company provides virtual care designed to help members manage pain, improve mobility and avoid or delay more invasive treatments.

Its platform combines a mobile application, motion-sensing technology, personalized exercise therapy, education and support from a care team that may include clinical specialists. Hinge Health offers programs for conditions such as chronic back pain, knee pain and other common MSK issues, with services generally provided through employers, health plans and other healthcare organizations.

Hinge Health was founded in 2015 and is headquartered in San Francisco, California.

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