Vanguard Group Inc. Grows Stake in Hinge Health Inc. $HNGE

Key Points

• Vanguard increased its stake in Hinge Health by 110.5% in the fourth quarter, ending with 2.61 million shares valued at about $121 million.
• Hinge Health reported better-than-expected quarterly results, with EPS of $0.45 versus $0.12 expected and revenue of $182.31 million, up 47.2% year over year.
• Despite strong fundamentals, insiders sold shares recently, including CEO Daniel Antonio Perez and CFO James Budge, while analysts remain largely bullish with an average Moderate Buy rating and a $67.40 price target.

Vanguard Group Inc. increased its stake in Hinge Health Inc. (NYSE:HNGE - Free Report) by 110.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,605,532 shares of the company's stock after purchasing an additional 1,367,693 shares during the quarter. Vanguard Group Inc. owned approximately 3.31% of Hinge Health worth $121,027,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Hinge Health in the third quarter worth about $37,000. First Horizon Corp grew its stake in Hinge Health by 163.9% in the fourth quarter. First Horizon Corp now owns 855 shares of the company's stock worth $40,000 after purchasing an additional 531 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of Hinge Health during the third quarter valued at approximately $49,000. Jones Financial Companies Lllp lifted its holdings 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 last quarter. Finally, Rakuten Investment Management Inc. purchased a new stake in shares of Hinge Health in the 3rd quarter worth approximately $81,000.

Hinge Health Stock Up 0.8%

Shares of NYSE:HNGE opened at $55.17 on Wednesday. The company has a market capitalization of $4.35 billion and a price-to-earnings ratio of -4.47. Hinge Health Inc. has a 52 week low of $30.08 and a 52 week high of $62.18. The firm has a 50 day moving average of $43.58 and a 200 day moving average of $44.12.

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 for the quarter, beating analysts' consensus estimates of $0.12 by $0.33. The company 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%.Hinge Health's revenue for the quarter was up 47.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.30 EPS. On average, sell-side analysts expect that Hinge Health Inc. will post 0.78 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Daniel Antonio Perez sold 45,456 shares of the company's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $55.05, for a total transaction of $2,502,352.80. Following the transaction, the chief executive officer directly owned 35,470 shares of the company's stock, valued at $1,952,623.50. This represents a 56.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO James Budge sold 5,906 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $54.82, for a total transaction of $323,766.92. Following the completion of the transaction, the chief financial officer directly owned 386,293 shares of the company's stock, valued at $21,176,582.26. The trade was a 1.51% decrease in their ownership of the stock. 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 sold 648,576 shares of company stock worth $30,122,850 over the last quarter. Company insiders own 18.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on HNGE shares. Evercore restated an "outperform" rating and set a $45.00 price target on shares of Hinge Health in a report on Wednesday, April 8th. Canaccord Genuity Group upped their price objective on Hinge Health from $53.00 to $63.00 and gave the company a "buy" rating in a research report on Wednesday, May 6th. Truist Financial set a $79.00 price target on shares of Hinge Health in a research report on Wednesday, May 6th. Citigroup reiterated an "outperform" rating on shares of Hinge Health in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company lifted their target price on Hinge Health from $68.00 to $80.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Hinge Health currently has an average rating of "Moderate Buy" and an average price target 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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