First Eagle Investment Management LLC Takes Position in Hinge Health Inc. $HNGE

First Eagle Investment Management LLC purchased a new position in shares of Hinge Health Inc. (NYSE:HNGE) during the third quarter, HoldingsChannel reports. The fund purchased 83,000 shares of the company’s stock, valued at approximately $4,074,000.

Several other hedge funds and other institutional investors have also bought and sold shares of HNGE. Mirae Asset Global Investments Co. Ltd. bought a new stake in Hinge Health in the 3rd quarter valued at about $37,000. Montag A & Associates Inc. bought a new position in shares of Hinge Health during the second quarter worth approximately $41,000. SBI Securities Co. Ltd. acquired a new stake in shares of Hinge Health in the second quarter valued at approximately $48,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Hinge Health in the third quarter valued at approximately $49,000. Finally, Jones Financial Companies Lllp grew its position in Hinge Health by 348.0% during 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 in the last quarter.

Hinge Health Trading Up 3.0%

Shares of NYSE HNGE opened at $45.67 on Thursday. The company has a market cap of $3.60 billion and a price-to-earnings ratio of -3.57. Hinge Health Inc. has a 12 month low of $30.08 and a 12 month high of $62.18. The stock has a 50-day moving average price of $41.73 and a two-hundred day moving average price of $47.72.

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

Hinge Health announced that its board has authorized a share buyback program on Wednesday, November 12th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 7.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Hinge Health news, CEO Daniel Antonio Perez sold 166,665 shares of the stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $40.26, for a total value of $6,709,932.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President James Pursley sold 15,000 shares of the business’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $48.40, for a total value of $726,000.00. Following the sale, the president owned 769,778 shares in the company, valued at approximately $37,257,255.20. This trade represents a 1.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 525,491 shares of company stock valued at $23,762,220.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $59.00 price objective on shares of Hinge Health in a report on Wednesday, February 11th. Freedom Capital upgraded Hinge Health to a “strong-buy” rating in a research report on Thursday, January 22nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hinge Health in a research note on Thursday, January 22nd. Citizens Jmp reiterated a “market outperform” rating and set a $65.00 price objective on shares of Hinge Health in a research note on Wednesday, February 11th. Finally, Wall Street Zen lowered shares of Hinge Health from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.73.

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.