83,000 Shares in Hinge Health Inc. $HNGE Purchased by First Eagle Investment Management LLC

First Eagle Investment Management LLC bought a new stake in Hinge Health Inc. (NYSE:HNGE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 83,000 shares of the company’s stock, valued at approximately $4,074,000. First Eagle Investment Management LLC owned approximately 0.11% of Hinge Health as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Hinge Health in the third quarter worth $37,000. Montag A & Associates Inc. acquired a new stake in Hinge Health in the 2nd quarter valued at $41,000. SBI Securities Co. Ltd. bought a new stake in Hinge Health during the 2nd quarter worth about $48,000. Aster Capital Management DIFC Ltd bought a new stake in Hinge Health during the 3rd quarter worth about $49,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of Hinge Health by 348.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,120 shares of the company’s stock worth $54,000 after buying an additional 870 shares during the last quarter.

Insider Buying and Selling at Hinge Health

In other news, CEO Daniel Antonio Perez sold 166,670 shares of the stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $48.53, for a total transaction of $8,088,495.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President James Pursley sold 15,000 shares of Hinge Health stock in a transaction that occurred on 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 directly owned 769,778 shares of the company’s stock, valued at approximately $37,257,255.20. The trade was a 1.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 525,491 shares of company stock valued at $23,762,220 in the last three months.

Hinge Health Price Performance

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

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

Hinge Health declared that its board has authorized a stock repurchase program on Wednesday, November 12th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 7.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Royal Bank Of Canada lowered their target price on Hinge Health from $60.00 to $50.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 11th. Citizens Jmp restated a “market outperform” rating and issued a $65.00 price target on shares of Hinge Health in a research note on Wednesday, February 11th. Barclays dropped their price objective on Hinge Health from $60.00 to $52.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 11th. Evercore set a $50.00 price objective on Hinge Health and gave the company an “outperform” rating in a report on Wednesday, February 11th. Finally, Stifel Nicolaus set a $59.00 target price on shares of Hinge Health in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently 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.