180,642 Shares of Hinge Health Inc. $HNGE Bought by M&G PLC

M&G PLC bought a new stake in Hinge Health Inc. (NYSE:HNGE) during the third quarter, HoldingsChannel.com reports. The fund bought 180,642 shares of the company’s stock, valued at approximately $17,522,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. bought a new position in Hinge Health during the third quarter worth about $2,520,000. Assenagon Asset Management S.A. boosted 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 valued at $180,373,000 after purchasing an additional 1,772,182 shares in the last quarter. Argent Capital Management LLC bought a new stake in shares of Hinge Health in the 3rd quarter valued at approximately $3,376,000. 11.2 Capital Management LLC bought a new stake in shares of Hinge Health in the 2nd quarter valued at approximately $204,566,531. Finally, Vista Investment Partners LLC bought a new stake in shares of Hinge Health in the 2nd quarter valued at approximately $3,468,000.

Hinge Health Stock Up 0.8%

Shares of HNGE stock opened at $123.17 on Wednesday. Hinge Health Inc. has a 12-month low of $30.08 and a 12-month high of $124.94. The company has a market capitalization of $9.94 billion, a P/E ratio of 62.84, a P/E/G ratio of 1.72 and a beta of 1.19. The firm has a 50-day moving average price of $102.11 and a 200 day moving average price of $69.64.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings data on Monday, November 2nd. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.44. The firm had revenue of $234.97 million for the quarter. Hinge Health had a net margin of 21.02% and a return on equity of 73.91%. Hinge Health’s quarterly revenue was up 52.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.02) earnings per share. As a group, research analysts expect that Hinge Health Inc. will post 1.56 earnings per share for the current year.

Insider Activity

In other news, CFO James Budge sold 55,561 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $89.45, for a total value of $4,969,931.45. Following the transaction, the chief financial officer directly owned 349,062 shares of the company’s stock, valued at $31,223,595.90. The trade was a 13.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Gabriel Mecklenburg sold 250,000 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $88.97, for a total value of $22,242,500.00. Following the sale, the chairman owned 250,000 shares in the company, valued at approximately $22,242,500. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 1,024,581 shares of company stock worth $95,632,761. 18.92% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Robert W. Baird increased their target price on Hinge Health from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, September 22nd. Zacks Research raised Hinge Health from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 6th. Morgan Stanley upped their price target on Hinge Health from $117.00 to $131.00 and gave the company an “overweight” rating in a research report on Tuesday, November 3rd. Bank of America began coverage on Hinge Health in a research report on Tuesday, September 29th. They issued a “buy” rating and a $110.00 price target on the stock. Finally, Stifel Nicolaus increased their price objective on Hinge Health from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $118.93.

Hinge Health Profile

Hinge Health is a digital health company focused on musculoskeletal care, including support for people with back, joint and muscle pain. Its services are designed to help members manage conditions through personalized, technology-enabled care. The company’s offerings include app-based exercise therapy, education and behavioral support, along with access to clinical care teams. Hinge Health also uses wearable motion sensors in some programs to guide and track exercises. Founded in 2015, Hinge Health primarily provides its services through employers and health plans.