Braidwell LP Sells 124,996 Shares of Hinge Health Inc. $HNGE

Braidwell LP reduced its stake in Hinge Health Inc. (NYSE:HNGE) by 8.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,330,127 shares of the company’s stock after selling 124,996 shares during the period. Hinge Health comprises about 4.1% of Braidwell LP’s holdings, making the stock its 3rd biggest position. Braidwell LP’s holdings in Hinge Health were worth $110,401,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of HNGE. BNP Paribas Financial Markets increased its stake in Hinge Health by 162.7% during the 4th quarter. BNP Paribas Financial Markets now owns 727,672 shares of the company’s stock valued at $33,800,000 after purchasing an additional 450,643 shares in the last quarter. UBS Group AG lifted its stake in shares of Hinge Health by 168.8% during the fourth quarter. UBS Group AG now owns 356,701 shares of the company’s stock worth $16,569,000 after buying an additional 223,980 shares during the period. Royce & Associates LP purchased a new stake in shares of Hinge Health during the fourth quarter valued at $2,091,000. 11.2 Capital Management LLC acquired a new position in shares of Hinge Health in the 2nd quarter valued at $204,566,531. Finally, Alkeon Capital Management LLC raised its stake in Hinge Health by 110.4% in the 4th quarter. Alkeon Capital Management LLC now owns 791,104 shares of the company’s stock worth $36,747,000 after acquiring an additional 415,093 shares during the last quarter.

Hinge Health Price Performance

NYSE HNGE opened at $91.87 on Thursday. Hinge Health Inc. has a 1 year low of $30.08 and a 1 year high of $95.57. The company has a market capitalization of $7.41 billion, a PE ratio of 71.77 and a beta of 1.38. The company has a fifty day moving average of $84.85 and a 200 day moving average of $61.62.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.31. The company 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%.Hinge Health’s revenue for the quarter was up 53.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 earnings per share. Research analysts expect that Hinge Health Inc. will post 1.25 earnings per share for the current year.

Insider Buying and Selling

In related news, President James Pursley sold 33,000 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $88.05, for a total transaction of $2,905,650.00. Following the sale, the president directly owned 706,235 shares of the company’s stock, valued at $62,183,991.75. This trade represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal 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, Director Kristina M. Leslie sold 1,200 shares of Hinge Health stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $88.23, for a total value of $105,876.00. Following the transaction, the director owned 30,387 shares of the company’s stock, valued at approximately $2,681,045.01. This represents a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 3,560,039 shares of company stock worth $280,176,004 over the last ninety days. 18.92% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on HNGE shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hinge Health in a research report on Monday, August 3rd. Zacks Research cut Hinge Health from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Piper Sandler reaffirmed an “overweight” rating on shares of Hinge Health in a report on Wednesday, June 10th. Robert W. Baird upped their target price on Hinge Health from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, June 17th. Finally, Citizens Jmp increased their price target on shares of Hinge Health from $96.00 to $107.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $100.57.

About Hinge Health

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.