Sei Investments Co. Boosts Stock Holdings in Hinge Health Inc. $HNGE

Sei Investments Co. grew its stake in shares of Hinge Health Inc. (NYSE:HNGE) by 12.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,633 shares of the company’s stock after buying an additional 9,807 shares during the quarter. Sei Investments Co. owned 0.11% of Hinge Health worth $3,302,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of HNGE. Wells Fargo & Company MN increased its stake in Hinge Health by 160.0% in the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock worth $25,000 after purchasing an additional 336 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Hinge Health in the fourth quarter worth approximately $26,000. First Horizon Corp increased its stake in shares of Hinge Health by 163.9% in the fourth quarter. First Horizon Corp now owns 855 shares of the company’s stock worth $40,000 after buying an additional 531 shares during the period. CENTRAL TRUST Co purchased a new position in shares of Hinge Health in the first quarter worth $37,000. Finally, High Point Wealth Management LLC bought a new stake in Hinge Health during the 4th quarter valued at $46,000.

Insider Buying and Selling

In related news, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $85.05, for a total transaction of $7,087,556.70. Following the completion of the transaction, the chairman owned 83,334 shares of the company’s stock, valued at $7,087,556.70. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President James Pursley sold 33,000 shares of Hinge Health stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $69.31, for a total value of $2,287,230.00. Following the transaction, the president owned 740,897 shares of the company’s stock, valued at $51,351,571.07. The trade was a 4.26% 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 3,721,100 shares of company stock worth $288,210,699 in the last 90 days. Insiders own 18.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on HNGE shares. Evercore reissued an “outperform” rating and issued a $105.00 price target on shares of Hinge Health in a report on Wednesday. Truist Financial upped their price objective on shares of Hinge Health from $79.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Zacks Research raised Hinge Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Barclays boosted their price target on Hinge Health from $97.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Canaccord Genuity Group set a $105.00 price target on Hinge Health in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Hinge Health presently has an average rating of “Moderate Buy” and an average price target of $98.64.

Hinge Health Price Performance

Shares of Hinge Health stock opened at $89.04 on Friday. Hinge Health Inc. has a 1 year low of $30.08 and a 1 year high of $91.50. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 69.56 and a beta of 1.30. The company has a 50-day moving average of $76.22 and a 200 day moving average of $54.93.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.31. Hinge Health had a net margin of 15.15% and a return on equity of 65.44%. The business had revenue of $212.82 million for the quarter. During the same quarter last year, the company posted $0.59 EPS. Hinge Health’s revenue for the quarter was up 53.0% compared to the same quarter last year. On average, equities analysts anticipate that Hinge Health Inc. will post 1.37 EPS for the current year.

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.