Principal Financial Group Inc. Has $7.28 Million Stock Holdings in Hinge Health Inc. $HNGE

Principal Financial Group Inc. grew its stake in shares of Hinge Health Inc. (NYSE:HNGE) by 83.3% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 188,866 shares of the company’s stock after acquiring an additional 85,809 shares during the quarter. Principal Financial Group Inc. owned about 0.24% of Hinge Health worth $7,283,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wells Fargo & Company MN lifted its position in Hinge Health by 160.0% during the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock worth $25,000 after purchasing an additional 336 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Hinge Health in the 4th quarter valued at about $26,000. CENTRAL TRUST Co acquired a new position in shares of Hinge Health in the 1st quarter valued at approximately $37,000. First Horizon Corp raised its position in shares of Hinge Health by 163.9% in the 4th quarter. First Horizon Corp now owns 855 shares of the company’s stock valued at $40,000 after buying an additional 531 shares in the last quarter. Finally, High Point Wealth Management LLC bought a new stake in shares of Hinge Health during the 4th quarter worth approximately $46,000.

Insiders Place Their Bets

In other Hinge Health news, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $82.83, for a total value of $121,484,027.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $60.22, for a total value of $5,018,373.48. Following the sale, the chairman owned 83,334 shares in the company, valued at approximately $5,018,373.48. 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 sold a total of 3,921,100 shares of company stock valued at $299,222,881 in the last 90 days. Corporate insiders own 18.92% of the company’s stock.

Hinge Health Price Performance

Shares of Hinge Health stock opened at $75.05 on Tuesday. The company’s 50 day moving average price is $71.94 and its two-hundred day moving average price is $52.97. The firm has a market capitalization of $5.81 billion, a P/E ratio of -6.08 and a beta of 1.13. Hinge Health Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $91.50.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.33. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The company had revenue of $182.31 million during the quarter. During the same quarter last year, the company posted $1.30 earnings per share. The firm’s quarterly revenue was up 47.2% on a year-over-year basis. On average, analysts expect that Hinge Health Inc. will post 1.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Needham & Company LLC increased their price target on shares of Hinge Health from $63.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Wells Fargo & Company boosted their price target on Hinge Health from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, June 23rd. Stifel Nicolaus upped their price objective on Hinge Health from $79.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday. KeyCorp raised their price objective on Hinge Health from $90.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Finally, Weiss Ratings upgraded Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Hinge Health currently has an average rating of “Moderate Buy” and an average target price of $86.07.

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.