OP Asset Management Ltd Purchases New Position in Hinge Health Inc. $HNGE

OP Asset Management Ltd purchased a new stake in Hinge Health Inc. (NYSE:HNGE) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 22,085 shares of the company’s stock, valued at approximately $852,000.

Other institutional investors also recently made changes to their positions in the company. CENTRAL TRUST Co bought a new stake in shares of Hinge Health during the first quarter worth approximately $37,000. Hsbc Holdings PLC increased its stake in shares of Hinge Health by 204.9% during the fourth quarter. Hsbc Holdings PLC now owns 30,460 shares of the company’s stock worth $1,411,000 after purchasing an additional 20,469 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Hinge Health during the 4th quarter worth approximately $26,000. Alpine Woods Capital Investors LLC acquired a new stake in Hinge Health during the 4th quarter worth approximately $1,947,000. Finally, Voloridge Investment Management LLC bought a new stake in Hinge Health in the 4th quarter valued at $25,541,000.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Needham & Company LLC increased their price objective on Hinge Health from $63.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Wells Fargo & Company boosted their target price on shares of Hinge Health from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, June 23rd. Raymond James Financial upped their price target on shares of Hinge Health from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, June 15th. Evercore reaffirmed an “outperform” rating and set a $45.00 price target on shares of Hinge Health in a research report on Wednesday, April 8th. Finally, Weiss Ratings upgraded shares of Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.80.

Hinge Health Price Performance

Hinge Health stock opened at $81.69 on Tuesday. The firm has a market cap of $6.32 billion and a PE ratio of -6.62. The stock’s fifty day moving average price is $57.69 and its two-hundred day moving average price is $47.77. Hinge Health Inc. has a one year low of $30.08 and a one year high of $84.62.

Hinge Health (NYSE:HNGE) last released its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.33. The firm had revenue of $182.31 million during the quarter. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.The business’s revenue was up 47.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 earnings per share. Sell-side analysts expect that Hinge Health Inc. will post 1.33 earnings per share for the current fiscal year.

Insider Activity at Hinge Health

In related news, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $60.22, for a total value of $5,018,373.48. Following the completion of the transaction, the chairman owned 83,334 shares of the company’s stock, valued at $5,018,373.48. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $82.83, for a total transaction of $121,484,027.61. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,494,928 shares of company stock valued at $257,112,011 over the last quarter. 18.92% of the stock is owned by corporate insiders.

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.