MRA Advisory Group Buys New Holdings in Hinge Health Inc. $HNGE

MRA Advisory Group purchased a new stake in Hinge Health Inc. (NYSE:HNGE) in the third quarter, Holdings Channel reports. The firm purchased 7,763 shares of the company’s stock, valued at approximately $755,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in HNGE. 11.2 Capital Management LLC purchased a new position in Hinge Health during the second quarter worth approximately $204,566,531. Wellington Management Group LLP grew its holdings in Hinge Health by 169.7% in the 2nd quarter. Wellington Management Group LLP now owns 1,205,584 shares of the company’s stock valued at $100,063,000 after buying an additional 758,594 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Hinge Health by 225.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company’s stock valued at $44,852,000 after buying an additional 806,007 shares in the last quarter. Alkeon Capital Management LLC increased its stake in shares of Hinge Health by 110.4% in the 4th quarter. Alkeon Capital Management LLC now owns 791,104 shares of the company’s stock worth $36,747,000 after acquiring an additional 415,093 shares during the last quarter. Finally, Estuary Capital Management LP acquired a new stake in shares of Hinge Health in the 1st quarter worth $15,201,000.

Hinge Health Stock Performance

Shares of HNGE traded up $0.20 during mid-day trading on Wednesday, hitting $98.55. 365,305 shares of the company’s stock were exchanged, compared to its average volume of 1,591,911. The stock’s 50-day moving average is $89.76 and its 200-day moving average is $70.22. Hinge Health Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $100.36. The company has a market cap of $7.95 billion, a price-to-earnings ratio of 76.99 and a beta of 1.37.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.31. Hinge Health had a net margin of 15.15% and a return on equity of 51.60%. The firm had revenue of $212.82 million during the quarter. During the same quarter last year, the firm posted $0.59 EPS. The company’s revenue for the quarter was up 53.0% on a year-over-year basis. As a group, equities research analysts anticipate that Hinge Health Inc. will post 1.25 EPS for the current year.

Insider Buying and Selling

In other Hinge Health news, major shareholder Insight Holdings Group, Llc sold 181,499 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $90.20, for a total value of $16,371,209.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President James Pursley sold 33,000 shares of the company’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $94.14, for a total value of $3,106,620.00. Following the sale, the president directly owned 666,909 shares in the company, valued at $62,782,813.26. This represents a 4.71% 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. Insiders have sold a total of 954,260 shares of company stock worth $86,045,787 over the last three months. 18.92% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Truist Financial boosted their price target on shares of Hinge Health from $85.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Citizens Jmp raised their price objective on shares of Hinge Health from $96.00 to $107.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 5th. Citigroup reaffirmed an “outperform” rating on shares of Hinge Health in a research note on Monday, July 27th. Needham & Company LLC raised their price target on shares of Hinge Health from $97.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, September 30th. Finally, Raymond James Financial raised their price objective on Hinge Health from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $105.33.

Hinge Health Profile

Hinge Health, Inc is a digital healthcare company focused on musculoskeletal (MSK) conditions, including back and joint pain. The company provides virtual care designed to help members manage pain, improve mobility and avoid or delay more invasive treatments.

Its platform combines a mobile application, motion-sensing technology, personalized exercise therapy, education and support from a care team that may include clinical specialists. Hinge Health offers programs for conditions such as chronic back pain, knee pain and other common MSK issues, with services generally provided through employers, health plans and other healthcare organizations.

Hinge Health was founded in 2015 and is headquartered in San Francisco, California.