Hinge Health Inc. $HNGE Shares Sold by NorthRock Partners LLC

NorthRock Partners LLC reduced its holdings in shares of Hinge Health Inc. (NYSE:HNGE) by 53.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 18,096 shares of the company’s stock after selling 21,135 shares during the period. NorthRock Partners LLC’s holdings in Hinge Health were worth $1,502,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Wells Fargo & Company MN grew its position in shares of Hinge Health by 160.0% in the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock valued at $25,000 after purchasing an additional 336 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Hinge Health in the 4th quarter valued at approximately $26,000. IFP Advisors Inc lifted its stake in Hinge Health by 140.0% in the 2nd quarter. IFP Advisors Inc now owns 324 shares of the company’s stock valued at $27,000 after buying an additional 189 shares in the last quarter. Nykredit A S acquired a new stake in Hinge Health during the 2nd quarter valued at $29,000. Finally, CENTRAL TRUST Co purchased a new position in Hinge Health during the first quarter worth $37,000.

Insider Buying and Selling at Hinge Health

In other news, major shareholder Insight Holdings Group, Llc sold 181,499 shares of the stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $90.20, for a total value of $16,371,209.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Gabriel Mecklenburg sold 83,334 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $85.05, for a total value of $7,087,556.70. Following the sale, the chairman owned 83,334 shares in the company, valued at approximately $7,087,556.70. The trade was 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. Insiders sold a total of 3,510,039 shares of company stock valued at $276,899,004 in the last quarter. Company insiders own 18.92% of the company’s stock.

Hinge Health Price Performance

Shares of NYSE:HNGE opened at $91.59 on Thursday. Hinge Health Inc. has a 12 month low of $30.08 and a 12 month high of $95.57. The firm has a market capitalization of $7.39 billion, a PE ratio of 71.56 and a beta of 1.38. The business has a 50-day moving average of $85.97 and a two-hundred day moving average of $63.46.

Hinge Health (NYSE:HNGE) last posted its earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.31. The firm 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 firm’s revenue for the quarter was up 53.0% compared to the same quarter last year. During the same period last year, the company posted $0.59 EPS. As a group, research analysts anticipate that Hinge Health Inc. will post 1.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HNGE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hinge Health in a research note on Monday, August 3rd. Wall Street Zen cut shares of Hinge Health from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Stifel Nicolaus boosted their price objective on shares of Hinge Health from $96.00 to $115.00 and gave the company a “buy” rating in a research report on Tuesday. Piper Sandler restated an “overweight” rating on shares of Hinge Health in a research report on Wednesday, June 10th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Hinge Health in a research note on Monday, July 27th. One investment 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 assigned a Sell rating to the stock. According to MarketBeat.com, Hinge Health presently has a consensus rating of “Moderate Buy” and an average price target of $101.93.

Hinge Health 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.