Wedmont Private Capital Sells 102,325 Shares of Hinge Health Inc. $HNGE

Wedmont Private Capital reduced its holdings in shares of Hinge Health Inc. (NYSE:HNGE) by 76.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,978 shares of the company’s stock after selling 102,325 shares during the quarter. Wedmont Private Capital’s holdings in Hinge Health were worth $2,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. 11.2 Capital Management LLC purchased a new stake in shares of Hinge Health during the 2nd quarter valued at about $204,566,531. BIT Capital GmbH raised its holdings in shares of Hinge Health by 79.3% during the fourth quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock valued at $154,033,000 after purchasing an additional 1,466,577 shares during the last quarter. Vanguard Group Inc. lifted its position in Hinge Health by 110.5% during the fourth quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company’s stock valued at $121,027,000 after purchasing an additional 1,367,693 shares during the period. Tiger Global Management LLC boosted its holdings in Hinge Health by 227.1% in the fourth quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company’s stock worth $83,877,000 after purchasing an additional 1,253,743 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Hinge Health in the 4th quarter worth approximately $54,469,000.

Analysts Set New Price Targets

Several research firms have recently weighed in on HNGE. Citizens Jmp increased their price target on Hinge Health from $96.00 to $107.00 and gave the company a “market outperform” rating in a report on Wednesday, August 5th. KeyCorp upped their price objective on Hinge Health from $90.00 to $125.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Needham & Company LLC raised their target price on Hinge Health from $76.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Hinge Health in a research note on Monday, August 3rd. Finally, Citigroup reiterated an “outperform” rating on shares of Hinge Health in a research note on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.57.

Insider Activity

In other news, Chairman Gabriel Mecklenburg sold 83,334 shares of Hinge Health stock in a transaction dated 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 transaction, the chairman directly owned 83,334 shares of the company’s stock, valued at $7,087,556.70. The trade was 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, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the business’s 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 disclosure for this sale is available in the SEC filing. Insiders sold 3,510,039 shares of company stock worth $276,899,004 in the last ninety days. Corporate insiders own 18.92% of the company’s stock.

Hinge Health Price Performance

NYSE:HNGE opened at $92.20 on Monday. Hinge Health Inc. has a one year low of $30.08 and a one year high of $95.57. The business has a fifty day moving average price of $85.44 and a 200-day moving average price of $62.37. The firm has a market capitalization of $7.44 billion, a price-to-earnings ratio of 72.03 and a beta of 1.38.

Hinge Health (NYSE:HNGE) last released its earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.31. Hinge Health had a return on equity of 51.60% and a net margin of 15.15%.The company had revenue of $212.82 million for the quarter. During the same quarter last year, the firm posted $0.59 earnings per share. Hinge Health’s revenue for the quarter was up 53.0% on a year-over-year basis. On average, equities research analysts expect that Hinge Health Inc. will post 1.25 earnings per share for the current fiscal year.

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.