Wellington Management Group LLP Has $100.06 Million Stock Position in Hinge Health Inc. $HNGE

Wellington Management Group LLP increased its position in shares of Hinge Health Inc. (NYSE:HNGE) by 169.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,205,584 shares of the company’s stock after buying an additional 758,594 shares during the period. Wellington Management Group LLP’s holdings in Hinge Health were worth $100,063,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of HNGE. Wells Fargo & Company MN lifted its position in Hinge Health by 160.0% during the 4th 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. Caitong International Asset Management Co. Ltd bought a new stake in Hinge Health during the 4th quarter valued at approximately $26,000. CENTRAL TRUST Co acquired a new stake in Hinge Health in the 1st quarter valued at approximately $37,000. State of Wyoming bought a new position in Hinge Health in the 1st quarter worth approximately $110,000. Finally, US Bancorp DE lifted its holdings in shares of Hinge Health by 96.1% during the third quarter. US Bancorp DE now owns 3,110 shares of the company’s stock worth $153,000 after buying an additional 1,524 shares during the last quarter.

Hinge Health Price Performance

HNGE opened at $89.87 on Wednesday. Hinge Health Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $95.57. The firm’s fifty day moving average price is $84.42 and its two-hundred day moving average price is $61.26. The company has a market capitalization of $7.25 billion, a P/E ratio of 70.21 and a beta of 1.31.

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

Insider Buying and Selling at Hinge Health

In other news, major shareholder Insight Holdings Group, Llc sold 181,499 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $90.20, for a total value of $16,371,209.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $85.05, for a total value of $7,087,556.70. Following the completion of the transaction, the chairman directly owned 83,334 shares of the company’s stock, valued at approximately $7,087,556.70. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 3,560,039 shares of company stock worth $280,176,004. Insiders own 18.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HNGE. Wells Fargo & Company raised their price objective on shares of Hinge Health from $90.00 to $103.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Citigroup reissued an “outperform” rating on shares of Hinge Health in a report on Monday, July 27th. Needham & Company LLC raised their price target on shares of Hinge Health from $76.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Evercore restated an “outperform” rating and set a $105.00 price objective on shares of Hinge Health in a report on Wednesday, August 5th. Finally, Barclays increased their target price on shares of Hinge Health from $97.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $100.57.

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.