TD Waterhouse Canada Inc. Makes New $1.21 Million Investment in Hinge Health Inc. $HNGE

TD Waterhouse Canada Inc. acquired a new stake in Hinge Health Inc. (NYSE:HNGE) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,347 shares of the company’s stock, valued at approximately $1,211,000.

Other institutional investors have also modified their holdings of the company. 11.2 Capital Management LLC purchased a new position in Hinge Health in the second quarter valued at $204,566,531. Assenagon Asset Management S.A. lifted its holdings in Hinge Health by 2,141.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,854,922 shares of the company’s stock worth $180,373,000 after buying an additional 1,772,182 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Hinge Health by 169.7% during the 2nd quarter. Wellington Management Group LLP now owns 1,205,584 shares of the company’s stock worth $100,063,000 after buying an additional 758,594 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Hinge Health by 225.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company’s stock worth $44,852,000 after buying an additional 806,007 shares during the last quarter. Finally, Estuary Capital Management LP acquired a new position in shares of Hinge Health during the 1st quarter worth about $15,201,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on HNGE shares. Needham & Company LLC raised their target price on Hinge Health from $97.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, September 30th. Citizens Jmp upped their price target on Hinge Health from $96.00 to $107.00 and gave the company a “market outperform” rating in a report on Wednesday, August 5th. Barclays upped their price target on Hinge Health from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, October 12th. KeyCorp increased their price target on shares of Hinge Health from $125.00 to $140.00 and gave the company an “overweight” rating in a research note on Friday, October 16th. Finally, Wells Fargo & Company raised their price objective on shares of Hinge Health from $90.00 to $103.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Hinge Health presently has an average rating of “Moderate Buy” and a consensus price target of $107.00.

Hinge Health Stock Performance

Hinge Health stock opened at $112.02 on Thursday. The company has a market capitalization of $9.04 billion, a P/E ratio of 83.34 and a beta of 1.37. Hinge Health Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $112.24. The stock has a 50-day simple moving average of $94.64 and a 200-day simple moving average of $75.16.

Hinge Health (NYSE:HNGE) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.31. The firm had revenue of $212.82 million for the quarter. Hinge Health had a return on equity of 51.60% and a net margin of 15.15%. The company’s quarterly revenue was up 53.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 EPS. As a group, analysts forecast that Hinge Health Inc. will post 1.25 earnings per share for the current year.

Insider Transactions at Hinge Health

In other news, President James Pursley sold 33,000 shares of the stock in a transaction that occurred 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 completion of the sale, the president directly owned 666,909 shares of the company’s stock, valued at approximately $62,782,813.26. This represents a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Gabriel Mecklenburg sold 200,000 shares of the firm’s stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $103.13, for a total transaction of $20,626,000.00. Following the transaction, the chairman owned 200,000 shares in the company, valued at approximately $20,626,000. 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 sold a total of 1,024,581 shares of company stock valued at $95,632,761 over the last ninety days. 18.92% of the stock is owned by insiders.

Hinge Health 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.