Lisanti Capital Growth LLC Sells 37,490 Shares of Hinge Health Inc. $HNGE

Lisanti Capital Growth LLC lessened its stake in shares of Hinge Health Inc. (NYSE:HNGE) by 26.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 101,660 shares of the company’s stock after selling 37,490 shares during the period. Hinge Health makes up approximately 2.7% of Lisanti Capital Growth LLC’s portfolio, making the stock its 2nd biggest position. Lisanti Capital Growth LLC’s holdings in Hinge Health were worth $9,885,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. M&G PLC bought a new position in shares of Hinge Health in the 3rd quarter valued at $17,522,000. Allspring Global Investments Holdings LLC bought a new stake in Hinge Health during the 3rd quarter worth $204,000. Pictet Asset Management Holding SA grew its position in Hinge Health by 9.7% during the 3rd quarter. Pictet Asset Management Holding SA now owns 6,122 shares of the company’s stock worth $595,000 after acquiring an additional 539 shares during the last quarter. Parallel Advisors LLC grew its position in Hinge Health by 15.1% during the 3rd quarter. Parallel Advisors LLC now owns 7,215 shares of the company’s stock worth $702,000 after acquiring an additional 944 shares during the last quarter. Finally, Alps Advisors Inc. acquired a new position in Hinge Health in the 3rd quarter worth about $595,000.

Insider Activity

In related news, CEO Daniel Perez sold 150,000 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $89.44, for a total value of $13,416,000.00. Following the transaction, the chief executive officer owned 35,470 shares in the company, valued at $3,172,436.80. The trade was a 80.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Gabriel Mecklenburg sold 250,000 shares of the stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $88.97, for a total value of $22,242,500.00. Following the sale, the chairman owned 250,000 shares of the company’s stock, valued at approximately $22,242,500. 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 have sold 1,024,581 shares of company stock worth $95,632,761 in the last three months. Corporate insiders own 18.92% of the company’s stock.

Hinge Health Price Performance

Shares of HNGE stock opened at $121.67 on Thursday. The stock has a market capitalization of $9.82 billion, a PE ratio of 66.97, a PEG ratio of 1.74 and a beta of 1.19. The business’s 50 day simple moving average is $102.75 and its 200 day simple moving average is $70.04. Hinge Health Inc. has a one year low of $30.08 and a one year high of $126.40.

Hinge Health (NYSE:HNGE) last released its quarterly earnings results on Monday, November 2nd. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.44. The firm had revenue of $234.97 million during the quarter. Hinge Health had a net margin of 21.02% and a return on equity of 66.96%. The firm’s revenue for the quarter was up 52.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.02) EPS. As a group, research analysts expect that Hinge Health Inc. will post 1.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

HNGE has been the topic of several research reports. Zacks Research upgraded Hinge Health from a “hold” rating to a “strong-buy” rating in a report on Friday, November 6th. Citigroup reiterated an “outperform” rating on shares of Hinge Health in a report on Monday, July 27th. Needham & Company LLC lifted their target price on shares of Hinge Health from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, November 3rd. KeyCorp boosted their target price on shares of Hinge Health from $125.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, October 16th. Finally, Stifel Nicolaus boosted their target price on shares of Hinge Health from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Hinge Health has a consensus rating of “Buy” and a consensus price target of $118.93.

Hinge Health Profile

Hinge Health is a digital health company focused on musculoskeletal care, including support for people with back, joint and muscle pain. Its services are designed to help members manage conditions through personalized, technology-enabled care. The company’s offerings include app-based exercise therapy, education and behavioral support, along with access to clinical care teams. Hinge Health also uses wearable motion sensors in some programs to guide and track exercises. Founded in 2015, Hinge Health primarily provides its services through employers and health plans.