Bullseye Asset Management LLC Acquires New Shares in Hinge Health Inc. $HNGE

Bullseye Asset Management LLC acquired a new stake in shares of Hinge Health Inc. (NYSE:HNGE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 41,763 shares of the company’s stock, valued at approximately $1,940,000.

Several other institutional investors also recently modified their holdings of the business. Wells Fargo & Company MN boosted its position in shares of 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 buying an additional 336 shares during the last quarter. First Horizon Corp boosted its position in shares of 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 buying an additional 531 shares during the last quarter. Sandler Capital Management boosted its position in shares of Hinge Health by 1.4% during the third quarter. Sandler Capital Management now owns 52,728 shares of the company’s stock valued at $2,588,000 after buying an additional 728 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Hinge Health by 348.0% during the third quarter. Jones Financial Companies Lllp now owns 1,120 shares of the company’s stock valued at $54,000 after buying an additional 870 shares during the last quarter. Finally, Strategic Blueprint LLC boosted its position in shares of Hinge Health by 8.0% during the fourth quarter. Strategic Blueprint LLC now owns 12,319 shares of the company’s stock valued at $572,000 after buying an additional 915 shares during the last quarter.

Hinge Health Trading Up 1.1%

NYSE:HNGE opened at $65.48 on Friday. Hinge Health Inc. has a 12-month low of $30.08 and a 12-month high of $66.90. The stock has a 50-day moving average price of $50.48 and a 200 day moving average price of $46.01. The stock has a market capitalization of $5.07 billion and a P/E ratio of -5.31.

Hinge Health (NYSE:HNGE) last released its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $182.31 million during the quarter. During the same quarter in the prior year, the business posted $1.30 EPS. The business’s revenue for the quarter was up 47.2% compared to the same quarter last year. On average, research analysts predict that Hinge Health Inc. will post 1.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, President James Pursley sold 16,000 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $53.79, for a total transaction of $860,640.00. Following the completion of the sale, the president owned 780,223 shares in the company, valued at approximately $41,968,195.17. This trade represents a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Antonio Perez sold 45,456 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $55.05, for a total value of $2,502,352.80. Following the sale, the chief executive officer owned 35,470 shares of the company’s stock, valued at $1,952,623.50. This represents a 56.17% 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. Over the last three months, insiders have sold 554,600 shares of company stock worth $29,859,068. Company insiders own 18.92% of the company’s stock.

Wall Street Analysts Forecast Growth

HNGE has been the topic of several recent analyst reports. Stifel Nicolaus set a $79.00 price objective on Hinge Health in a research report on Wednesday. Raymond James Financial reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Hinge Health in a research report on Wednesday, May 6th. KeyCorp increased their target price on Hinge Health from $75.00 to $90.00 and gave the company an “overweight” rating in a report on Friday. Wells Fargo & Company increased their target price on Hinge Health from $68.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Needham & Company LLC increased their target price on Hinge Health from $63.00 to $76.00 and gave the company a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $73.13.

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.