Royce & Associates LP Takes Position in Hinge Health Inc. $HNGE

Key Points

• Royce & Associates LP disclosed a new fourth-quarter stake in Hinge Health, buying 45,011 shares valued at about $2.09 million.
• Several other institutional investors also increased or initiated positions, including Vanguard, which boosted its holdings by 110.5% to 2.61 million shares, while other funds made sizable new purchases.
• Insider selling has been notable: CFO James Budge and Chairman Gabriel M.I. Mecklenburg both sold shares under Rule 10b5-1 plans, and insiders have sold 587,932 shares over the last 90 days.

Royce & Associates LP acquired a new stake in Hinge Health Inc. (NYSE:HNGE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 45,011 shares of the company's stock, valued at approximately $2,091,000. Royce & Associates LP owned 0.06% of Hinge Health as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of HNGE. Vanguard Group Inc. lifted its holdings in shares of Hinge Health by 110.5% in the 4th quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company's stock valued at $121,027,000 after buying an additional 1,367,693 shares during the period. BIT Capital GmbH lifted its holdings in shares of Hinge Health by 144.6% in the 3rd quarter. BIT Capital GmbH now owns 1,849,524 shares of the company's stock valued at $90,775,000 after buying an additional 1,093,320 shares during the period. Bamco Inc. NY acquired a new position in shares of Hinge Health in the 2nd quarter valued at about $48,943,000. Braidwell LP acquired a new position in shares of Hinge Health in the 3rd quarter valued at about $44,686,000. Finally, Ameriprise Financial Inc. acquired a new position in shares of Hinge Health in the 2nd quarter valued at about $27,040,000.

Insider Transactions at Hinge Health

In other Hinge Health news, CFO James Budge sold 5,907 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 $317,737.53. Following the completion of the sale, the chief financial officer directly owned 445,386 shares in the company, valued at approximately $23,957,312.94. The trade was a 1.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Gabriel M.I. Mecklenburg sold 83,333 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 value of $4,482,482.07. Following the sale, the chairman owned 83,333 shares of the company's stock, valued at approximately $4,482,482.07. 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. Insiders have sold a total of 587,932 shares of company stock valued at $29,116,997 in the last 90 days. Corporate insiders own 18.92% of the company's stock.

Hinge Health Stock Up 2.1%

Shares of Hinge Health stock opened at $56.13 on Friday. Hinge Health Inc. has a twelve month low of $30.08 and a twelve month high of $62.18. The business has a 50-day moving average price of $46.06 and a 200 day moving average price of $44.67. The firm has a market cap of $4.34 billion and a PE ratio of -4.55.

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on HNGE. Piper Sandler reissued an "overweight" rating and issued a $95.00 price objective on shares of Hinge Health in a report on Wednesday, May 6th. Canaccord Genuity Group boosted their price objective on Hinge Health from $53.00 to $63.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Evercore reissued an "outperform" rating and issued a $45.00 price objective on shares of Hinge Health in a report on Wednesday, April 8th. Needham & Company LLC boosted their price objective on Hinge Health from $59.00 to $63.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada lifted their price target on Hinge Health from $55.00 to $65.00 and gave the company an "outperform" rating in a research note on Wednesday, May 6th. Two 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 assigned a Sell rating to the company. According to MarketBeat.com, Hinge Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $67.40.

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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