Fifth Third Bancorp Buys Shares of 35,209 Hinge Health Inc. $HNGE

Fifth Third Bancorp acquired a new position in shares of Hinge Health Inc. (NYSE:HNGE) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 35,209 shares of the company’s stock, valued at approximately $1,358,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in HNGE. BIT Capital GmbH raised its stake in Hinge Health by 79.3% during the 4th quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock valued at $154,033,000 after acquiring an additional 1,466,577 shares in the last quarter. Vanguard Group Inc. grew its position in Hinge Health by 110.5% in the 4th quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company’s stock valued at $121,027,000 after buying an additional 1,367,693 shares in the last quarter. Tiger Global Management LLC grew its position in Hinge Health by 227.1% in the 4th quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company’s stock valued at $83,877,000 after buying an additional 1,253,743 shares in the last quarter. Millennium Management LLC raised its position in shares of Hinge Health by 225.0% during the 4th quarter. Millennium Management LLC now owns 1,479,642 shares of the company’s stock worth $68,729,000 after buying an additional 1,024,317 shares in the last quarter. Finally, Braidwell LP lifted its stake in shares of Hinge Health by 43.3% in the 4th quarter. Braidwell LP now owns 1,304,623 shares of the company’s stock worth $60,600,000 after acquiring an additional 394,147 shares during the period.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HNGE. Truist Financial increased their price objective on shares of Hinge Health from $79.00 to $85.00 and gave the company a “buy” rating in a report 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. Citizens Jmp lifted their price target on Hinge Health from $65.00 to $80.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 6th. Weiss Ratings upgraded shares of Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. Finally, Robert W. Baird raised their target price on shares of Hinge Health from $55.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, June 17th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $84.27.

Hinge Health Stock Performance

Shares of HNGE stock opened at $74.21 on Friday. Hinge Health Inc. has a twelve month low of $30.08 and a twelve month high of $91.50. The stock’s 50 day simple moving average is $71.54 and its 200 day simple moving average is $52.74. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of -6.01 and a beta of 1.13.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.33. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The business had revenue of $182.31 million during the quarter. During the same period in the prior year, the company posted $1.30 earnings per share. Hinge Health’s quarterly revenue was up 47.2% on a year-over-year basis. On average, analysts forecast that Hinge Health Inc. will post 1.37 EPS for the current fiscal year.

Insider Activity at Hinge Health

In other Hinge Health news, President James Pursley sold 33,000 shares of Hinge Health stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $69.31, for a total transaction of $2,287,230.00. Following the sale, the president directly owned 740,897 shares of the company’s stock, valued at approximately $51,351,571.07. The trade was a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $85.05, for a total value of $7,087,556.70. Following the completion of the sale, the chairman directly owned 83,334 shares in the company, valued at approximately $7,087,556.70. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 3,921,100 shares of company stock worth $299,222,881. Company insiders own 18.92% of the company’s stock.

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.