Healthcare of Ontario Pension Plan Trust Fund Has $5.47 Million Position in Hinge Health Inc. $HNGE

Healthcare of Ontario Pension Plan Trust Fund cut its holdings in shares of Hinge Health Inc. (NYSE:HNGE) by 21.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,881 shares of the company’s stock after selling 38,047 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Hinge Health were worth $5,471,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Marshall Wace LLP bought a new stake in Hinge Health during the second quarter worth about $367,000. Sei Investments Co. acquired a new position in shares of Hinge Health during the 2nd quarter worth approximately $869,000. Squarepoint Ops LLC bought a new stake in shares of Hinge Health during the 2nd quarter worth approximately $19,706,000. Raymond James Financial Inc. bought a new stake in shares of Hinge Health during the 2nd quarter worth approximately $3,258,000. Finally, Sandia Investment Management LP acquired a new stake in shares of Hinge Health in the 2nd quarter valued at approximately $657,000.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Truist Financial raised their target price on shares of Hinge Health from $79.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Robert W. Baird lifted their price objective 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. Raymond James Financial boosted their price objective on shares of Hinge Health from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, June 15th. Canaccord Genuity Group raised their target price on shares of Hinge Health from $76.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Finally, Needham & Company LLC lifted their price target on Hinge Health from $63.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $86.07.

Insider Transactions at Hinge Health

In related news, President James Pursley sold 33,000 shares of Hinge Health stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $69.31, for a total transaction of $2,287,230.00. Following the completion of the sale, the president directly owned 740,897 shares of the company’s stock, valued at approximately $51,351,571.07. This trade represents a 4.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 SEC filing for this sale provides additional information. Insiders sold a total of 3,921,100 shares of company stock worth $299,222,881 over the last quarter. Company insiders own 18.92% of the company’s stock.

Hinge Health Stock Performance

NYSE HNGE opened at $74.26 on Thursday. The stock has a market cap of $5.75 billion, a PE ratio of -6.02 and a beta of 1.13. The firm has a 50-day moving average of $72.75 and a 200-day moving average of $53.33. Hinge Health Inc. has a 52-week low of $30.08 and a 52-week high of $91.50.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.33. The business had revenue of $182.31 million for the quarter. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The firm’s quarterly revenue was up 47.2% on a year-over-year basis. During the same quarter last year, the company posted $1.30 EPS. As a group, analysts predict that Hinge Health Inc. will post 1.37 EPS for the current fiscal year.

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.