Hinge Health Inc. $HNGE Stock Position Raised by Wellington Management Group LLP

Wellington Management Group LLP increased its position in Hinge Health Inc. (NYSE:HNGE) by 169.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,205,584 shares of the company’s stock after purchasing an additional 758,594 shares during the period. Wellington Management Group LLP owned about 1.49% of Hinge Health worth $100,063,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HNGE. Wells Fargo & Company MN boosted its position in shares of Hinge Health by 160.0% in the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock worth $25,000 after buying an additional 336 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Hinge Health during the fourth quarter valued at $26,000. CENTRAL TRUST Co purchased a new stake in Hinge Health in the 1st quarter worth about $37,000. State of Wyoming acquired a new stake in Hinge Health during the 1st quarter worth about $110,000. Finally, US Bancorp DE grew its stake in Hinge Health by 96.1% during the 3rd quarter. US Bancorp DE now owns 3,110 shares of the company’s stock valued at $153,000 after acquiring an additional 1,524 shares in the last quarter.

Hinge Health Stock Performance

NYSE:HNGE opened at $89.87 on Wednesday. The company has a market capitalization of $7.25 billion, a P/E ratio of 70.21 and a beta of 1.31. The stock’s 50 day moving average price is $84.42 and its 200 day moving average price is $61.26. Hinge Health Inc. has a 52 week low of $30.08 and a 52 week high of $95.57.

Hinge Health (NYSE:HNGE) last posted its earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.31. Hinge Health had a net margin of 15.15% and a return on equity of 51.60%. The firm had revenue of $212.82 million during the quarter. During the same quarter last year, the firm earned $0.59 earnings per share. Hinge Health’s revenue was up 53.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Hinge Health Inc. will post 1.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Hinge Health

In other Hinge Health news, President James Pursley sold 33,000 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $88.05, for a total transaction of $2,905,650.00. Following the transaction, the president directly owned 706,235 shares in the company, valued at $62,183,991.75. This trade represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kristina M. Leslie sold 1,200 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $88.23, for a total value of $105,876.00. Following the completion of the sale, the director directly owned 30,387 shares of the company’s stock, valued at $2,681,045.01. This represents a 3.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,560,039 shares of company stock worth $280,176,004 in the last 90 days. 18.92% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on HNGE. Stifel Nicolaus set a $96.00 price target on shares of Hinge Health in a research report on Wednesday, August 5th. KeyCorp boosted their price objective on shares of Hinge Health from $90.00 to $125.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Hinge Health in a research report on Monday, August 3rd. Raymond James Financial lifted their target price on shares of Hinge Health from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, June 15th. Finally, Evercore restated an “outperform” rating and set a $105.00 price target on shares of Hinge Health in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Hinge Health currently has a consensus rating of “Moderate Buy” and an average target price of $100.57.

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.