Hinge Health Inc. $HNGE Shares Acquired by Schwartz Investment Counsel Inc.

Schwartz Investment Counsel Inc. increased its stake in Hinge Health Inc. (NYSE:HNGE) by 28.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,000 shares of the company’s stock after purchasing an additional 13,000 shares during the period. Schwartz Investment Counsel Inc. owned 0.07% of Hinge Health worth $2,275,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in HNGE. Fifth Third Bancorp acquired a new stake in Hinge Health in the first quarter worth $1,358,000. Kornitzer Capital Management Inc. KS acquired a new position in shares of Hinge Health during the first quarter valued at $4,066,000. Y Intercept Hong Kong Ltd bought a new position in shares of Hinge Health during the first quarter worth about $2,385,000. Janney Montgomery Scott LLC grew its position in shares of Hinge Health by 3.3% during the first quarter. Janney Montgomery Scott LLC now owns 9,400 shares of the company’s stock worth $362,000 after acquiring an additional 300 shares during the last quarter. Finally, 1492 Capital Management LLC acquired a new stake in shares of Hinge Health in the 1st quarter worth about $1,333,000.

Insider Activity

In other news, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of Hinge Health stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $82.83, for a total value of $121,484,027.61. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Daniel Antonio Perez sold 104,544 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $55.09, for a total transaction of $5,759,328.96. Following the sale, the chief executive officer owned 35,470 shares of the company’s stock, valued at $1,954,042.30. The trade was a 74.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 3,954,433 shares of company stock worth $300,724,532. Corporate insiders own 18.92% of the company’s stock.

Hinge Health Price Performance

NYSE HNGE opened at $90.03 on Tuesday. Hinge Health Inc. has a 12 month low of $30.08 and a 12 month high of $91.50. The firm has a market capitalization of $6.97 billion, a PE ratio of -7.30 and a beta of 1.13. The company’s 50 day simple moving average is $66.28 and its 200 day simple moving average is $50.48.

Hinge Health (NYSE:HNGE) last released its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, topping 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 during the quarter. During the same quarter last year, the company earned $1.30 earnings per share. The business’s revenue for the quarter was up 47.2% on a year-over-year basis. Sell-side analysts anticipate that Hinge Health Inc. will post 1.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on HNGE shares. Wells Fargo & Company lifted their price objective on shares of Hinge Health from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, June 23rd. Wall Street Zen lowered shares of Hinge Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 6th. Zacks Research raised Hinge Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Weiss Ratings upgraded Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Finally, Morgan Stanley increased their price objective on Hinge Health from $72.00 to $108.00 and gave the stock an “overweight” rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Hinge Health has an average rating of “Moderate Buy” and an average target price of $82.67.

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.