First Eagle Investment Management LLC Boosts Stock Position in Hinge Health Inc. $HNGE

Key Points

• First Eagle Investment Management boosted its Hinge Health stake by 167.2% in the fourth quarter, ending with 221,751 shares worth about $10.3 million.
• Several other institutional investors also increased exposure, while analysts remain mostly bullish: Hinge Health has a Moderate Buy consensus and an average price target of $67.40.
• Hinge Health beat quarterly earnings expectations with EPS of $0.45 versus $0.12 expected, and revenue rose 47.2% year over year to $182.31 million, even as insiders have sold shares recently.

First Eagle Investment Management LLC raised its stake in shares of Hinge Health Inc. (NYSE:HNGE - Free Report) by 167.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 221,751 shares of the company's stock after acquiring an additional 138,751 shares during the period. First Eagle Investment Management LLC owned approximately 0.28% of Hinge Health worth $10,300,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Hinge Health by 110.5% during the 4th quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company's stock valued at $121,027,000 after acquiring an additional 1,367,693 shares during the last quarter. BIT Capital GmbH raised its stake in Hinge Health by 144.6% during the 3rd quarter. BIT Capital GmbH now owns 1,849,524 shares of the company's stock valued at $90,775,000 after acquiring an additional 1,093,320 shares during the last quarter. Bamco Inc. NY purchased a new stake in Hinge Health during the 2nd quarter valued at approximately $48,943,000. Braidwell LP purchased a new stake in Hinge Health during the 3rd quarter valued at approximately $44,686,000. Finally, Ameriprise Financial Inc. purchased a new stake in Hinge Health during the 2nd quarter valued at approximately $27,040,000.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on HNGE shares. Wells Fargo & Company increased their target price on Hinge Health from $68.00 to $80.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Piper Sandler reissued an "overweight" rating and set a $95.00 target price on shares of Hinge Health in a research note on Wednesday, May 6th. Freedom Capital raised Hinge Health to a "strong-buy" rating in a research note on Thursday, January 22nd. Weiss Ratings raised Hinge Health from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, May 6th. Finally, Barclays increased their target price on Hinge Health from $52.00 to $62.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Hinge Health has an average rating of "Moderate Buy" and an average price target of $67.40.

Hinge Health Price Performance

HNGE opened at $55.17 on Wednesday. The stock has a market cap of $4.35 billion and a P/E ratio of -4.47. The stock's 50 day simple moving average is $43.58 and its 200 day simple moving average is $44.12. Hinge Health Inc. has a 1-year low of $30.08 and a 1-year high of $62.18.

Hinge Health (NYSE:HNGE - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.33. The business had revenue of $182.31 million for the quarter. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.The business's revenue was up 47.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.30 EPS. Research analysts expect that Hinge Health Inc. will post 0.78 EPS for the current fiscal year.

Insider Transactions at Hinge Health

In related news, President James Pursley sold 15,000 shares of the company's stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $42.26, for a total value of $633,900.00. Following the sale, the president owned 732,104 shares in the company, valued at $30,938,715.04. This represents a 2.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Daniel Antonio Perez sold 45,456 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $55.05, for a total value of $2,502,352.80. Following the sale, the chief executive officer owned 35,470 shares in the company, valued at approximately $1,952,623.50. This trade represents a 56.17% decrease in their position. 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. In the last 90 days, insiders have sold 648,576 shares of company stock worth $30,122,850. 18.92% of the stock is currently owned by insiders.

Hinge Health Company 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.

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