Braidwell LP Reduces Holdings in Hinge Health Inc. $HNGE

Braidwell LP cut its stake in shares of Hinge Health Inc. (NYSE:HNGE) by 8.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,330,127 shares of the company’s stock after selling 124,996 shares during the quarter. Hinge Health makes up approximately 4.1% of Braidwell LP’s holdings, making the stock its 3rd biggest holding. Braidwell LP owned about 1.65% of Hinge Health worth $110,401,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. 11.2 Capital Management LLC bought a new position in Hinge Health in the second quarter worth approximately $204,566,531. BIT Capital GmbH raised its position in Hinge Health by 79.3% during the 4th quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock valued at $154,033,000 after purchasing an additional 1,466,577 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Hinge Health by 110.5% in the 4th quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company’s stock worth $121,027,000 after buying an additional 1,367,693 shares during the period. Tiger Global Management LLC lifted its holdings in shares of Hinge Health by 227.1% in the 4th quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company’s stock worth $83,877,000 after buying an additional 1,253,743 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of Hinge Health during the 4th quarter worth $54,469,000.

Hinge Health Price Performance

Shares of HNGE stock opened at $91.87 on Thursday. The stock’s 50-day moving average is $84.85 and its 200 day moving average is $61.62. Hinge Health Inc. has a 1-year low of $30.08 and a 1-year high of $95.57. The company has a market cap of $7.41 billion, a P/E ratio of 71.77 and a beta of 1.38.

Hinge Health (NYSE:HNGE) last announced its earnings results on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.31. The business had revenue of $212.82 million during the quarter. Hinge Health had a net margin of 15.15% and a return on equity of 51.60%. The business’s revenue for the quarter was up 53.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 earnings per share. On average, analysts anticipate that Hinge Health Inc. will post 1.25 EPS for the current 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 that occurred on Wednesday, July 1st. The shares were sold at an average price of $85.05, for a total transaction of $7,087,556.70. Following the completion of the transaction, the chairman owned 83,334 shares in the company, valued at $7,087,556.70. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 that occurred on Monday, June 29th. The shares were 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. In the last quarter, insiders have sold 3,560,039 shares of company stock valued at $280,176,004. 18.92% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on HNGE. Zacks Research lowered Hinge Health from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Evercore reiterated an “outperform” rating and set a $105.00 target price on shares of Hinge Health in a report on Wednesday, August 5th. Robert W. Baird raised their target price on shares of Hinge Health from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, June 17th. Needham & Company LLC upped their price target on shares of Hinge Health from $76.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Finally, Citizens Jmp increased their price objective on shares of Hinge Health from $96.00 to $107.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $100.57.

About Hinge Health

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.