Vanguard Group Inc. Has $60.75 Million Stock Position in Hinge Health Inc. $HNGE

Vanguard Group Inc. boosted its holdings in Hinge Health Inc. (NYSE:HNGE) by 22.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,237,839 shares of the company’s stock after buying an additional 228,234 shares during the period. Vanguard Group Inc. owned approximately 1.58% of Hinge Health worth $60,753,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Hinge Health in the second quarter valued at approximately $114,000. Lisanti Capital Growth LLC bought a new position in Hinge Health during the second quarter worth $3,089,000. Montag A & Associates Inc. bought a new position in Hinge Health during the second quarter worth $41,000. SBI Securities Co. Ltd. acquired a new position in Hinge Health during the 2nd quarter valued at $48,000. Finally, PNC Financial Services Group Inc. bought a new stake in Hinge Health in the 2nd quarter valued at $71,000.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on HNGE shares. Canaccord Genuity Group dropped their price objective on shares of Hinge Health from $65.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. Wall Street Zen raised Hinge Health from a “hold” rating to a “buy” rating in a research report on Saturday. Wells Fargo & Company assumed coverage on Hinge Health in a research note on Thursday, January 8th. They set an “overweight” rating and a $68.00 price target on the stock. Royal Bank Of Canada reduced their price objective on Hinge Health from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, February 11th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Hinge Health in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Hinge Health currently has an average rating of “Moderate Buy” and a consensus price target of $56.73.

Insider Activity at Hinge Health

In other Hinge Health news, President James Pursley sold 15,000 shares of the company’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $48.40, for a total value of $726,000.00. Following the sale, the president directly owned 769,778 shares in the company, valued at $37,257,255.20. This represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO James Budge sold 10,491 shares of the stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $48.41, for a total value of $507,869.31. Following the transaction, the chief financial officer owned 441,174 shares of the company’s stock, valued at $21,357,233.34. This represents a 2.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 525,491 shares of company stock valued at $23,762,220 in the last 90 days.

Hinge Health Stock Up 0.2%

NYSE HNGE opened at $45.93 on Friday. Hinge Health Inc. has a twelve month low of $30.08 and a twelve month high of $62.18. The stock has a market cap of $3.62 billion and a P/E ratio of -3.59. The company’s 50-day simple moving average is $41.65 and its 200 day simple moving average is $47.61.

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

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

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.