Needham Investment Management LLC Increases Stock Holdings in Hinge Health Inc. $HNGE

Needham Investment Management LLC boosted its holdings in shares of Hinge Health Inc. (NYSE:HNGE) by 200.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 22,500 shares of the company’s stock after buying an additional 15,000 shares during the quarter. Needham Investment Management LLC’s holdings in Hinge Health were worth $1,045,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in HNGE. Wells Fargo & Company MN grew its stake in shares of 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 acquiring an additional 336 shares during the last quarter. First Horizon Corp grew its position 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 purchasing an additional 531 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Hinge Health during the 3rd quarter valued at approximately $49,000. High Point Wealth Management LLC purchased a new position in shares of Hinge Health in the fourth quarter worth $46,000. Finally, Jones Financial Companies Lllp raised its holdings 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 worth $54,000 after buying an additional 870 shares during the last quarter.

Wall Street Analyst Weigh In

HNGE has been the topic of a number of research analyst reports. Royal Bank Of Canada boosted their price objective on shares of Hinge Health from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday. Piper Sandler reaffirmed an “overweight” rating on shares of Hinge Health in a research report on Wednesday, June 10th. Barclays boosted their price target on Hinge Health from $62.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday. Needham & Company LLC increased their price objective on Hinge Health from $63.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Finally, Stifel Nicolaus set a $79.00 target price on Hinge Health in a report on Wednesday, June 10th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $74.53.

Hinge Health Price Performance

Shares of Hinge Health stock opened at $68.54 on Tuesday. The stock has a market cap of $5.30 billion and a PE ratio of -5.55. The firm has a fifty day moving average price of $51.07 and a 200 day moving average price of $46.15. Hinge Health Inc. has a 1 year low of $30.08 and a 1 year high of $68.68.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.12 by $0.33. The company had revenue of $182.31 million for the quarter. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. Hinge Health’s revenue for the quarter was up 47.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.30 earnings per share. As a group, equities analysts expect that Hinge Health Inc. will post 1.21 EPS for the current year.

Insider Buying and Selling

In other Hinge Health news, President James Pursley sold 16,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $53.79, for a total value of $860,640.00. Following the sale, the president owned 780,223 shares in the company, valued at approximately $41,968,195.17. This represents a 2.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Gabriel M.I. Mecklenburg sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $65.54, for a total transaction of $3,277,000.00. Following the sale, the chairman directly owned 50,000 shares in the company, valued at $3,277,000. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 554,600 shares of company stock worth $29,859,068 over the last ninety days. 18.92% of the stock is owned by corporate insiders.

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.