Wedmont Private Capital Cuts Stock Position in Hinge Health Inc. $HNGE

Wedmont Private Capital cut 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 & Exchange Commission. The firm 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 SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Wells Fargo & Company MN grew its position in shares of Hinge Health by 160.0% during the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock worth $25,000 after purchasing an additional 336 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Hinge Health in the 4th quarter worth approximately $26,000. Nykredit A S bought a new position in Hinge Health in the 2nd quarter worth approximately $29,000. CENTRAL TRUST Co bought a new position in Hinge Health in the 1st quarter worth approximately $37,000. Finally, State of Wyoming purchased a new stake in Hinge Health during the 1st quarter valued at approximately $110,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus set a $96.00 price objective on shares of Hinge Health in a research report on Wednesday, August 5th. Wells Fargo & Company raised their target price on shares of Hinge Health from $90.00 to $103.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Robert W. Baird boosted their price target on shares of Hinge Health from $55.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 17th. Barclays raised their price objective on Hinge Health from $97.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Finally, Canaccord Genuity Group set a $105.00 price target on Hinge Health in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.57.

Hinge Health Stock Down 0.2%

Hinge Health stock opened at $92.20 on Monday. Hinge Health Inc. has a 52-week low of $30.08 and a 52-week high of $95.57. The firm’s fifty day moving average is $85.44 and its 200 day moving average is $62.37. The company has a market cap of $7.44 billion, a price-to-earnings ratio of 72.03 and a beta of 1.38.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.31. The business 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 business’s quarterly revenue was up 53.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.59 earnings per share. On average, equities research analysts anticipate that Hinge Health Inc. will post 1.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, President James Pursley sold 33,000 shares of Hinge Health stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $88.05, for a total transaction of $2,905,650.00. Following the completion of the transaction, the president directly owned 706,235 shares of the company’s stock, valued at approximately $62,183,991.75. The trade was a 4.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Insight Holdings Group, Llc sold 181,499 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $90.20, for a total transaction of $16,371,209.80. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,510,039 shares of company stock valued at $276,899,004 in the last three months. Corporate 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.