Sei Investments Co. Boosts Stock Holdings in Hinge Health Inc. $HNGE

Sei Investments Co. lifted its position in shares of Hinge Health Inc. (NYSE:HNGE) by 12.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,633 shares of the company’s stock after acquiring an additional 9,807 shares during the period. Sei Investments Co.’s holdings in Hinge Health were worth $3,302,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new stake in Hinge Health during the 2nd quarter valued at $367,000. Squarepoint Ops LLC purchased a new stake in shares of Hinge Health during the second quarter valued at $19,706,000. Raymond James Financial Inc. purchased a new stake in shares of Hinge Health during the second quarter valued at $3,258,000. Sandia Investment Management LP bought a new stake in Hinge Health in the 2nd quarter worth about $657,000. Finally, Ameriprise Financial Inc. purchased a new position in Hinge Health in the 2nd quarter worth about $27,040,000.

Hinge Health Stock Up 11.2%

Shares of HNGE opened at $89.04 on Friday. Hinge Health Inc. has a 52 week low of $30.08 and a 52 week high of $91.50. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of 69.56 and a beta of 1.30. The business has a 50-day simple moving average of $76.22 and a two-hundred day simple moving average of $54.93.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.31. Hinge Health had a net margin of 15.15% and a return on equity of 65.44%. The business had revenue of $212.82 million for the quarter. During the same period in the prior year, the firm earned $0.59 EPS. Hinge Health’s revenue for the quarter was up 53.0% compared to the same quarter last year. On average, equities analysts anticipate that Hinge Health Inc. will post 1.37 earnings per share for the current fiscal year.

Insider Activity at Hinge Health

In other Hinge Health news, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President James Pursley sold 33,000 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $69.31, for a total value of $2,287,230.00. Following the transaction, the president directly owned 740,897 shares of the company’s stock, valued at approximately $51,351,571.07. The trade was a 4.26% 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. In the last 90 days, insiders have sold 3,721,100 shares of company stock valued at $288,210,699. 18.92% of the stock is owned by company insiders.

Analyst Ratings Changes

HNGE has been the topic of several research analyst reports. Citizens Jmp upped their target price on shares of Hinge Health from $96.00 to $107.00 and gave the company a “market outperform” rating in a research note on Wednesday. Needham & Company LLC boosted their price objective on shares of Hinge Health from $76.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday. Piper Sandler restated an “overweight” rating on shares of Hinge Health in a research report on Wednesday, June 10th. Evercore restated an “outperform” rating and issued a $105.00 target price on shares of Hinge Health in a report on Wednesday. Finally, Truist Financial lifted their target price on shares of Hinge Health from $79.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Hinge Health has an average rating of “Moderate Buy” and an average price target of $98.64.

Hinge Health 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.