Victory Capital Management Inc. Has $10.56 Million Position in Hinge Health Inc. $HNGE

Key Points

• Victory Capital reduced its stake in Hinge Health by 42.1%, selling 156,663 shares and ending the quarter with 215,052 shares worth about $10.56 million.
• Hinge Health reported a quarterly EPS beat ($0.49 vs $0.04 est.) and revenue of $170.7M (up 45.5% YoY), and its board authorized a $250 million share buyback (up to 7.2% of shares).
• Insiders have sold heavily (about 692,157 shares, $31.3M in the last three months), while analysts remain mixed but the consensus is a "Moderate Buy" with an average price target of $57.07.

Victory Capital Management Inc. cut its holdings in shares of Hinge Health Inc. (NYSE:HNGE - Free Report) by 42.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 215,052 shares of the company's stock after selling 156,663 shares during the period. Victory Capital Management Inc. owned about 0.27% of Hinge Health worth $10,555,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in HNGE. JPMorgan Chase & Co. bought a new position in shares of Hinge Health during the second quarter worth about $43,840,000. Seven Grand Managers LLC bought a new position in Hinge Health during the 2nd quarter worth approximately $12,938,000. Foresite Capital Management VI LLC bought a new stake in shares of Hinge Health in the 2nd quarter valued at $6,986,000. Ensign Peak Advisors Inc acquired a new stake in shares of Hinge Health during the second quarter worth $16,172,000. Finally, American Century Companies Inc. bought a new position in Hinge Health during the second quarter worth $27,268,000.

Hinge Health Trading Down 1.2%

Shares of HNGE stock opened at $45.43 on Thursday. The firm has a fifty day simple moving average of $41.60 and a two-hundred day simple moving average of $47.32. Hinge Health Inc. has a 12 month low of $30.08 and a 12 month high of $62.18. The firm has a market capitalization of $3.58 billion and a PE ratio of -3.55.

Hinge Health (NYSE:HNGE - Get Free Report) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.45. The business had revenue of $170.73 million for the quarter, compared to analyst estimates of $157.31 million. The company's quarterly revenue was up 45.5% compared to the same quarter last year.

Hinge Health announced that its Board of Directors has initiated a share buyback program on Wednesday, November 12th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to purchase up to 7.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

HNGE has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Hinge Health from a "hold" rating to a "buy" rating in a research report on Saturday, March 7th. Wells Fargo & Company began coverage on Hinge Health in a research report on Thursday, January 8th. They set an "overweight" rating and a $68.00 target price on the stock. Weiss Ratings reiterated a "sell (d)" rating on shares of Hinge Health in a report on Thursday, January 22nd. Piper Sandler reduced their price objective on shares of Hinge Health from $71.00 to $60.00 and set an "overweight" rating for the company in a research report on Friday, January 9th. Finally, Freedom Capital upgraded shares of Hinge Health to a "strong-buy" rating in a research report on Thursday, January 22nd. One 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 assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $57.07.

Insider Buying and Selling

In other Hinge Health news, Chairman Gabriel M.I. Mecklenburg sold 166,666 shares of the firm's stock in a transaction on Friday, March 6th. The stock was sold at an average price of $45.32, for a total transaction of $7,553,303.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Daniel Antonio Perez sold 166,670 shares of the company's stock in a transaction on Monday, December 15th. The stock was sold at an average price of $48.53, for a total transaction of $8,088,495.10. The SEC filing for this sale provides additional information. Insiders have sold 692,157 shares of company stock worth $31,315,523 over the last three months.

About Hinge Health

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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