Needham Investment Management LLC Increases Stake in Hinge Health Inc. $HNGE

Key Points

• Needham Investment Management increased its stake in Hinge Health by 200% in the fourth quarter, buying 15,000 additional shares and bringing its total to 22,500 shares valued at about $1.05 million.
• Hinge Health reported better-than-expected quarterly results, posting EPS of $0.45 versus the $0.12 consensus estimate, with revenue rising 47.2% year over year to $182.31 million.
• Despite strong revenue growth and upbeat analyst sentiment, the stock has seen heavy insider selling, including CEO Daniel Antonio Perez and President James Pursley, even as Wall Street maintains a Moderate Buy consensus with a $74.53 price target.

Needham Investment Management LLC increased its position in shares of Hinge Health Inc. (NYSE:HNGE - Free Report) by 200.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,500 shares of the company's stock after purchasing an additional 15,000 shares during the period. Needham Investment Management LLC's holdings in Hinge Health were worth $1,045,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its stake in Hinge Health by 160.0% in the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company's stock worth $25,000 after purchasing an additional 336 shares during the last quarter. First Horizon Corp grew its position in Hinge Health by 163.9% in the 4th quarter. First Horizon Corp now owns 855 shares of the company's stock valued at $40,000 after acquiring an additional 531 shares during the last quarter. Sandler Capital Management lifted its position in shares of Hinge Health by 1.4% during the third quarter. Sandler Capital Management now owns 52,728 shares of the company's stock worth $2,588,000 after purchasing an additional 728 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Hinge Health by 348.0% during the third quarter. Jones Financial Companies Lllp now owns 1,120 shares of the company's stock valued at $54,000 after purchasing an additional 870 shares during the period. Finally, Strategic Blueprint LLC grew its holdings in shares of Hinge Health by 8.0% in the fourth quarter. Strategic Blueprint LLC now owns 12,319 shares of the company's stock worth $572,000 after purchasing an additional 915 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on HNGE shares. Piper Sandler reiterated an "overweight" rating on shares of Hinge Health in a report on Wednesday, June 10th. Stifel Nicolaus set a $79.00 target price on shares of Hinge Health in a research note on Wednesday, June 10th. Weiss Ratings raised shares of Hinge Health from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, May 6th. Evercore reiterated an "outperform" rating and issued a $45.00 price target on shares of Hinge Health in a report on Wednesday, April 8th. Finally, Zacks Research upgraded Hinge Health from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen 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 MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.53.

Hinge Health Stock Performance

NYSE HNGE opened at $68.54 on Tuesday. The company has a market cap of $5.30 billion and a PE ratio of -5.55. The firm's 50 day moving average price is $51.07 and its 200-day moving average price is $46.15. Hinge Health Inc. has a 52-week low of $30.08 and a 52-week high of $68.68.

Hinge Health (NYSE:HNGE - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.33. The company had revenue of $182.31 million during the quarter. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The business's quarterly revenue was up 47.2% on a year-over-year basis. During the same period last year, the firm earned $1.30 EPS. On average, analysts forecast that Hinge Health Inc. will post 1.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Hinge Health

In other news, CEO Daniel Antonio Perez sold 104,544 shares of Hinge Health stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $55.09, for a total value of $5,759,328.96. Following the transaction, the chief executive officer owned 35,470 shares of the company's stock, valued at $1,954,042.30. The trade was a 74.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President James Pursley sold 16,000 shares of the business's stock in a transaction that occurred 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 owned 780,223 shares of the company's stock, valued at approximately $41,968,195.17. This trade represents a 2.01% 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. Insiders have sold 554,600 shares of company stock worth $29,859,068 over the last quarter. Insiders own 18.92% of the company's stock.

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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