Hinge Health (NYSE:HNGE) CFO James Budge Sells 47,720 Shares of Stock

Hinge Health Inc. (NYSE:HNGE) CFO James Budge sold 47,720 shares of Hinge Health stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $103.13, for a total value of $4,921,363.60. Following the sale, the chief financial officer owned 296,728 shares of the company’s stock, valued at approximately $30,601,558.64. This represents a 13.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

James Budge also recently made the following trade(s):

• On Thursday, September 10th, James Budge sold 55,561 shares of Hinge Health stock. The shares were sold at an average price of $89.45, for a total value of $4,969,931.45.

Hinge Health Price Performance

NYSE:HNGE traded up $0.28 during mid-day trading on Tuesday, reaching $105.10. The stock had a trading volume of 879,561 shares, compared to its average volume of 1,595,888. The business’s 50 day moving average is $91.79 and its 200 day moving average is $71.86. Hinge Health Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $107.00. The stock has a market cap of $8.48 billion, a P/E ratio of 82.11 and a beta of 1.37.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc lifted its holdings in Hinge Health by 140.0% in the 2nd quarter. IFP Advisors Inc now owns 324 shares of the company’s stock worth $27,000 after purchasing an additional 189 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Hinge Health by 3.3% during the first quarter. Janney Montgomery Scott LLC now owns 9,400 shares of the company’s stock worth $362,000 after purchasing an additional 300 shares during the period. Nykredit A S acquired a new position in Hinge Health during the second quarter valued at approximately $29,000. Lazard Asset Management LLC grew its holdings in Hinge Health by 0.6% during the first quarter. Lazard Asset Management LLC now owns 63,705 shares of the company’s stock valued at $2,456,000 after purchasing an additional 386 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Hinge Health during the fourth quarter valued at approximately $26,000.

Analyst Ratings Changes

HNGE has been the topic of several analyst reports. Barclays increased their price target on shares of Hinge Health from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday. Canaccord Genuity Group set a $105.00 price objective on shares of Hinge Health in a research note on Wednesday, August 5th. Zacks Research lowered shares of Hinge Health from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Weiss Ratings cut shares of Hinge Health from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. Finally, Citigroup reissued an “outperform” rating on shares of Hinge Health in a research report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

Hinge Health Company Profile

Hinge Health, Inc is a digital healthcare company focused on musculoskeletal (MSK) conditions, including back and joint pain. The company provides virtual care designed to help members manage pain, improve mobility and avoid or delay more invasive treatments.

Its platform combines a mobile application, motion-sensing technology, personalized exercise therapy, education and support from a care team that may include clinical specialists. Hinge Health offers programs for conditions such as chronic back pain, knee pain and other common MSK issues, with services generally provided through employers, health plans and other healthcare organizations.

Hinge Health was founded in 2015 and is headquartered in San Francisco, California.