ING Groep NV Buys Shares of 141,000 Hinge Health Inc. $HNGE

Key Points

• ING Groep NV disclosed a new fourth-quarter stake in Hinge Health, buying 141,000 shares valued at about $6.55 million.
• Hinge Health reported strong quarterly revenue growth, with revenue up 47.2% year over year to $182.31 million and EPS of $0.45, beating analyst estimates by $0.33.
• Despite recent insider sales, analysts remain broadly positive: the stock has a Moderate Buy consensus rating with an average price target of $67.53.

ING Groep NV bought a new stake in shares of Hinge Health Inc. (NYSE:HNGE - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 141,000 shares of the company's stock, valued at approximately $6,549,000. ING Groep NV owned 0.18% of Hinge Health as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. BIT Capital GmbH increased its position in Hinge Health by 79.3% during the 4th quarter. BIT Capital GmbH now owns 3,316,101 shares of the company's stock valued at $154,033,000 after purchasing an additional 1,466,577 shares during the period. Vanguard Group Inc. increased its position 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 purchasing an additional 1,367,693 shares during the period. Bamco Inc. NY acquired a new stake in Hinge Health during the 2nd quarter valued at approximately $48,943,000. Braidwell LP acquired a new stake in Hinge Health during the 3rd quarter valued at approximately $44,686,000. Finally, BNP Paribas Financial Markets grew its position in shares of Hinge Health by 162.7% during the 4th quarter. BNP Paribas Financial Markets now owns 727,672 shares of the company's stock worth $33,800,000 after buying an additional 450,643 shares during the period.

Hinge Health Trading Down 1.0%

NYSE HNGE opened at $63.00 on Tuesday. The company has a fifty day simple moving average of $48.38 and a 200 day simple moving average of $45.50. Hinge Health Inc. has a 12-month low of $30.08 and a 12-month high of $66.55. The company has a market cap of $4.88 billion and a P/E ratio of -5.11.

Hinge Health (NYSE:HNGE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.33. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The business had revenue of $182.31 million during the quarter. During the same period in the previous year, the business posted $1.30 EPS. The business's revenue for the quarter was up 47.2% compared to the same quarter last year. Sell-side analysts predict that Hinge Health Inc. will post 1.21 EPS for the current year.

Insider Buying and Selling at Hinge Health

In other Hinge Health news, President James Pursley sold 16,000 shares of the firm's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $53.79, for a total transaction of $860,640.00. Following the transaction, the president directly owned 780,223 shares in the company, valued at approximately $41,968,195.17. This trade represents a 2.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the firm's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $60.22, for a total value of $5,018,373.48. Following the transaction, the chairman owned 83,334 shares in the company, valued at approximately $5,018,373.48. 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. In the last three months, insiders have sold 554,600 shares of company stock worth $29,859,068. Corporate insiders own 18.92% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Hinge Health from $68.00 to $80.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Raymond James Financial reaffirmed an "outperform" rating and set a $70.00 price objective on shares of Hinge Health in a research report on Wednesday, May 6th. Royal Bank Of Canada raised their price objective on shares of Hinge Health from $55.00 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. KeyCorp set a $55.00 price objective on shares of Hinge Health in a research report on Wednesday, February 11th. Finally, Barclays raised their price objective on shares of Hinge Health from $52.00 to $62.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $67.53.

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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