79,492 Shares in Hinge Health Inc. $HNGE Purchased by Pathway Capital Management LP

Pathway Capital Management LP acquired a new stake in Hinge Health Inc. (NYSE:HNGE) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 79,492 shares of the company’s stock, valued at approximately $7,730,000. Hinge Health makes up about 39.6% of Pathway Capital Management LP’s holdings, making the stock its 2nd biggest position.

A number of other institutional investors and hedge funds have also modified their holdings of HNGE. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Hinge Health in the 3rd quarter worth $2,520,000. ProShare Advisors LLC grew its stake in shares of Hinge Health by 2.1% in the third quarter. ProShare Advisors LLC now owns 5,588 shares of the company’s stock valued at $543,000 after buying an additional 117 shares in the last quarter. Vise Technologies Inc. acquired a new position in Hinge Health during the third quarter worth approximately $207,000. Schwartz Investment Counsel Inc. lifted its stake in shares of Hinge Health by 0.8% during the 3rd quarter. Schwartz Investment Counsel Inc. now owns 61,310 shares of the company’s stock worth $5,962,000 after buying an additional 510 shares during the last quarter. Finally, Capelight Capital Asset Management LP bought a new stake in shares of Hinge Health during the third quarter worth approximately $1,848,000.

Insider Buying and Selling

In related news, CEO Daniel Perez sold 4,100 shares of the company’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $100.20, for a total transaction of $410,820.00. Following the completion of the sale, the chief executive officer owned 4,100 shares in the company, valued at approximately $410,820. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO James Budge sold 47,720 shares of Hinge Health stock in a transaction on Monday, October 12th. The stock was sold at an average price of $103.13, for a total transaction of $4,921,363.60. Following the transaction, the chief financial officer directly owned 296,728 shares in the company, valued at $30,601,558.64. This represents a 13.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 1,024,581 shares of company stock valued at $95,632,761. Company insiders own 18.92% of the company’s stock.

Hinge Health Trading Down 0.2%

NYSE:HNGE opened at $114.06 on Monday. The firm has a fifty day simple moving average of $98.13 and a two-hundred day simple moving average of $67.01. The stock has a market capitalization of $9.20 billion, a price-to-earnings ratio of 89.11 and a beta of 1.37. Hinge Health Inc. has a 12 month low of $30.08 and a 12 month high of $117.55.

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Barclays lifted their price target on Hinge Health from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. Royal Bank Of Canada increased their target price on Hinge Health from $75.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Truist Financial raised their target price on Hinge Health from $85.00 to $112.00 and gave the company a “buy” rating in a report on Monday, August 10th. Wall Street Zen cut shares of Hinge Health from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, KeyCorp upped their price objective on Hinge Health from $125.00 to $140.00 and gave the company an “overweight” rating in a research note on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $108.00.

Hinge Health Company Profile

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

Its platform combines personalized exercise therapy, behavioral support, education and access to clinical professionals. Hinge Health also uses technologies such as motion-sensing wearable devices and artificial intelligence to help guide exercises, monitor progress and tailor care plans to individual needs.

Hinge Health primarily serves employers and health plans, which offer its programs to eligible members in the United States.