Schwartz Investment Counsel Inc. Purchases New Position in Hinge Health Inc. $HNGE

Key Points

• Schwartz Investment Counsel disclosed a new fourth-quarter position in Hinge Health, buying 46,000 shares worth about $2.14 million.
• Hinge Health reported Q1 earnings of $0.45 per share, topping estimates by $0.33, while revenue rose 47.2% year over year to $182.31 million.
• Several analysts remain bullish, with recent price targets ranging from $67 to $95; the stock currently carries a Moderate Buy consensus and average target of $67.40.

Schwartz Investment Counsel Inc. bought a new position in shares of Hinge Health Inc. (NYSE:HNGE - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 46,000 shares of the company's stock, valued at approximately $2,137,000. Schwartz Investment Counsel Inc. owned approximately 0.06% of Hinge Health as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HNGE. Marshall Wace LLP purchased a new position in Hinge Health in the 2nd quarter worth approximately $367,000. Sei Investments Co. purchased a new stake in shares of Hinge Health in the 2nd quarter valued at $869,000. Squarepoint Ops LLC acquired a new position in shares of Hinge Health in the second quarter valued at approximately $19,706,000. Raymond James Financial Inc. acquired a new stake in shares of Hinge Health in the second quarter valued at $3,258,000. Finally, Sandia Investment Management LP purchased a new position in Hinge Health in the second quarter valued at $657,000.

Hinge Health Stock Performance

Hinge Health stock opened at $55.17 on Wednesday. The stock's fifty day moving average is $43.58 and its two-hundred day moving average is $44.12. The firm has a market capitalization of $4.35 billion and a price-to-earnings ratio of -4.47. Hinge Health Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $62.18.

Hinge Health (NYSE:HNGE - Get Free Report) last issued its quarterly earnings data 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. 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 firm's revenue was up 47.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.30 earnings per share. As a group, sell-side analysts forecast 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 firm's stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $42.26, for a total transaction of $633,900.00. Following the completion of the sale, the president directly owned 732,104 shares of the company's stock, valued at approximately $30,938,715.04. This trade represents a 2.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Gabriel M.I. Mecklenburg sold 50,000 shares of the company's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $55.01, for a total transaction of $2,750,500.00. Following the completion of the sale, the chairman directly owned 50,000 shares in the company, valued at $2,750,500. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 648,576 shares of company stock worth $30,122,850 in the last three months. 18.92% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on HNGE. Stifel Nicolaus increased their price objective on shares of Hinge Health from $59.00 to $67.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Truist Financial set a $79.00 price objective on shares of Hinge Health in a research report on Wednesday, May 6th. Piper Sandler restated an "overweight" rating and issued a $95.00 target price on shares of Hinge Health in a report on Wednesday, May 6th. Raymond James Financial reaffirmed an "outperform" rating and issued a $70.00 target price on shares of Hinge Health in a research report on Wednesday, May 6th. Finally, Freedom Capital raised shares of Hinge Health to a "strong-buy" rating in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $67.40.

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.

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