Vanguard Group Inc. Purchases 228,234 Shares of Hinge Health Inc. $HNGE

Vanguard Group Inc. grew its position in Hinge Health Inc. (NYSE:HNGE) by 22.6% in the third quarter, HoldingsChannel.com reports. The fund owned 1,237,839 shares of the company’s stock after buying an additional 228,234 shares during the quarter. Vanguard Group Inc.’s holdings in Hinge Health were worth $60,753,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of HNGE. Lisanti Capital Growth LLC acquired a new position in Hinge Health in the second quarter worth $3,089,000. JPMorgan Chase & Co. acquired a new stake in shares of Hinge Health in the second quarter valued at $43,840,000. Seven Grand Managers LLC bought a new position in shares of Hinge Health in the second quarter valued at about $12,938,000. Foresite Capital Management VI LLC bought a new position in shares of Hinge Health in the second quarter valued at about $6,986,000. Finally, Ensign Peak Advisors Inc acquired a new position in Hinge Health during the 2nd quarter worth about $16,172,000.

Hinge Health Stock Up 0.2%

Hinge Health stock opened at $45.93 on Friday. The business’s 50-day simple moving average is $41.65 and its 200 day simple moving average is $47.61. The stock has a market cap of $3.62 billion and a price-to-earnings ratio of -3.59. Hinge Health Inc. has a 12-month low of $30.08 and a 12-month high of $62.18.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings data on Tuesday, February 10th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.45. The firm had revenue of $170.73 million for the quarter, compared to the consensus estimate of $157.31 million. Hinge Health’s quarterly revenue was up 45.5% on a year-over-year basis.

Hinge Health declared that its board has authorized a share buyback plan on Wednesday, November 12th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 7.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Royal Bank Of Canada decreased their price objective on shares of Hinge Health from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Wednesday, February 11th. Piper Sandler reduced their target price on shares of Hinge Health from $71.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, January 9th. Evercore set a $50.00 price target on shares of Hinge Health and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Stifel Nicolaus set a $59.00 price target on shares of Hinge Health in a report on Thursday, February 5th. Finally, Wells Fargo & Company assumed coverage on shares of Hinge Health in a research report on Thursday, January 8th. They issued an “overweight” rating and a $68.00 price objective for the company. One investment 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.73.

Insider Transactions at Hinge Health

In related news, CEO Daniel Antonio Perez sold 166,665 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $40.26, for a total transaction of $6,709,932.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President James Pursley sold 15,000 shares of the stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $48.40, for a total transaction of $726,000.00. Following the completion of the transaction, the president 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 525,491 shares of company stock worth $23,762,220 in the last quarter.

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.