Kornitzer Capital Management Inc. KS Purchases New Shares in Hinge Health Inc. $HNGE

Kornitzer Capital Management Inc. KS purchased a new position in Hinge Health Inc. (NYSE:HNGE) in the first quarter, HoldingsChannel.com reports. The institutional investor purchased 105,450 shares of the company’s stock, valued at approximately $4,066,000.

Several other institutional investors and hedge funds also recently bought and sold shares of HNGE. Wells Fargo & Company MN increased its position in Hinge Health by 160.0% during the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock valued at $25,000 after acquiring an additional 336 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Hinge Health in the 4th quarter worth about $26,000. CENTRAL TRUST Co bought a new stake in shares of Hinge Health in the 1st quarter worth about $37,000. First Horizon Corp boosted its stake in shares of Hinge Health by 163.9% during the 4th quarter. First Horizon Corp now owns 855 shares of the company’s stock worth $40,000 after purchasing an additional 531 shares during the period. Finally, High Point Wealth Management LLC bought a new position in Hinge Health during the 4th quarter valued at about $46,000.

Insider Buying and Selling

In other Hinge Health news, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $82.83, for a total transaction of $121,484,027.61. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of Hinge Health stock in a transaction on Monday, June 1st. The shares were sold at an average price of $60.22, for a total value of $5,018,373.48. Following the sale, the chairman directly owned 83,334 shares of the company’s stock, valued at approximately $5,018,373.48. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 3,954,433 shares of company stock valued at $300,724,532 over the last quarter. 18.92% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

HNGE has been the topic of a number of recent analyst reports. Truist Financial increased their price objective on shares of Hinge Health from $79.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Wall Street Zen downgraded Hinge Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Robert W. Baird raised their price target on Hinge Health from $55.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 17th. KeyCorp boosted their price objective on Hinge Health from $75.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Finally, Raymond James Financial upped their price objective on Hinge Health from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, June 15th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Hinge Health has an average rating of “Moderate Buy” and an average price target of $75.80.

Hinge Health Stock Performance

Hinge Health stock traded down $1.29 during trading hours on Friday, hitting $88.63. The company had a trading volume of 1,176,302 shares, compared to its average volume of 2,156,040. The firm has a market cap of $6.86 billion, a P/E ratio of -7.18 and a beta of 1.13. Hinge Health Inc. has a 1 year low of $30.08 and a 1 year high of $91.07. The company has a 50-day moving average price of $65.37 and a two-hundred day moving average price of $50.18.

Hinge Health (NYSE:HNGE) last issued its earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.33. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The business had revenue of $182.31 million for the quarter. During the same period last year, the business posted $1.30 earnings per share. The business’s revenue was up 47.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Hinge Health Inc. will post 1.33 EPS for the current year.

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.