Royce & Associates LP Makes New $2.09 Million Investment in Hinge Health Inc. $HNGE

Royce & Associates LP acquired a new position in shares of Hinge Health Inc. (NYSE:HNGE) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 45,011 shares of the company’s stock, valued at approximately $2,091,000.

Several other large investors also recently bought and sold shares of the company. First Horizon Corp increased its stake in Hinge Health by 163.9% during the 4th quarter. First Horizon Corp now owns 855 shares of the company’s stock worth $40,000 after buying an additional 531 shares in the last quarter. Sandler Capital Management grew its position in shares of Hinge Health by 1.4% in the third quarter. Sandler Capital Management now owns 52,728 shares of the company’s stock valued at $2,588,000 after purchasing an additional 728 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Hinge Health in the third quarter valued at approximately $37,000. Jones Financial Companies Lllp grew its position in shares of Hinge Health by 348.0% in the third quarter. Jones Financial Companies Lllp now owns 1,120 shares of the company’s stock valued at $54,000 after purchasing an additional 870 shares in the last quarter. Finally, Strategic Blueprint LLC grew its position in shares of Hinge Health by 8.0% in the fourth quarter. Strategic Blueprint LLC now owns 12,319 shares of the company’s stock valued at $572,000 after purchasing an additional 915 shares in the last quarter.

Hinge Health Stock Performance

HNGE opened at $56.13 on Friday. Hinge Health Inc. has a one year low of $30.08 and a one year high of $62.18. The stock has a market capitalization of $4.34 billion and a PE ratio of -4.55. The business’s 50 day moving average price is $46.06 and its 200 day moving average price is $44.67.

Hinge Health (NYSE:HNGE) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.33. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.The firm had revenue of $182.31 million for the quarter. During the same quarter in the prior year, the company posted $1.30 earnings per share. The company’s revenue was up 47.2% on a year-over-year basis. As a group, equities research analysts forecast that Hinge Health Inc. will post 1.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO James Budge sold 11,006 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $42.26, for a total value of $465,113.56. Following the transaction, the chief financial officer directly owned 401,427 shares in the company, valued at approximately $16,964,305.02. This represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Gabriel M.I. Mecklenburg sold 166,666 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $45.32, for a total value of $7,553,303.12. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 587,932 shares of company stock valued at $29,116,997. Insiders own 18.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HNGE. Citigroup restated an “outperform” rating on shares of Hinge Health in a research report on Wednesday, May 6th. Royal Bank Of Canada upped their price target on Hinge Health from $55.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Wells Fargo & Company upped their price target on Hinge Health from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Canaccord Genuity Group upped their price target on Hinge Health from $53.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Raymond James Financial restated an “outperform” rating and issued a $70.00 price target on shares of Hinge Health in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $67.40.

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.