Insider Selling: Hinge Health (NYSE:HNGE) CEO Sells 166,670 Shares of Stock

Hinge Health Inc. (NYSE:HNGE) CEO Daniel Antonio Perez sold 166,670 shares of Hinge Health stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $48.53, for a total transaction of $8,088,495.10. The sale was disclosed in a filing with the SEC, which is available through this link.

Hinge Health Price Performance

Hinge Health stock traded down $0.16 during trading hours on Tuesday, hitting $48.34. 847,880 shares of the stock were exchanged, compared to its average volume of 1,216,410. The business’s 50-day moving average is $48.01 and its two-hundred day moving average is $48.99. Hinge Health Inc. has a 12 month low of $33.42 and a 12 month high of $62.18.

Hinge Health (NYSE:HNGE) last posted its earnings results on Tuesday, November 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.18. The firm had revenue of $154.21 million during the quarter, compared to the consensus estimate of $142.44 million. The company’s quarterly revenue was up 53.3% compared to the same quarter last year.

Hinge Health declared that its board has approved a share repurchase program on Wednesday, November 12th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 7.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wall Street Zen lowered Hinge Health from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Barclays increased their price objective on shares of Hinge Health from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Morgan Stanley boosted their target price on shares of Hinge Health from $57.00 to $67.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 23rd. Robert W. Baird assumed coverage on shares of Hinge Health in a research note on Friday, September 5th. They set a “neutral” rating and a $56.00 price target on the stock. Finally, Baird R W raised shares of Hinge Health to a “hold” rating in a report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.93.

Institutional Investors Weigh In On Hinge Health

A number of institutional investors and hedge funds have recently modified their holdings of the business. BIT Capital GmbH lifted its holdings in Hinge Health by 144.6% in the third quarter. BIT Capital GmbH now owns 1,849,524 shares of the company’s stock valued at $90,775,000 after buying an additional 1,093,320 shares during the period. Vanguard Group Inc. raised its position in shares of Hinge Health by 22.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,237,839 shares of the company’s stock valued at $60,753,000 after acquiring an additional 228,234 shares during the last quarter. Bamco Inc. NY acquired a new position in shares of Hinge Health in the 2nd quarter valued at $48,943,000. Braidwell LP bought a new position in shares of Hinge Health in the 3rd quarter worth $44,686,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Hinge Health during the second quarter worth $43,840,000.

About Hinge Health

Our vision is to build a new health system that transforms outcomes, experience and costs by using technology to scale and automate the delivery of care. Hinge Health leverages software, including AI, to largely automate care for joint and muscle health, delivering an outstanding member experience, improved member outcomes, and cost reductions for our clients.