Hinge Health (NYSE:HNGE) CFO Sells $317,737.53 in Stock

Hinge Health Inc. (NYSE:HNGE) CFO James Budge sold 5,907 shares of Hinge Health stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $53.79, for a total transaction of $317,737.53. Following the transaction, the chief financial officer owned 445,386 shares of the company’s stock, valued at $23,957,312.94. The trade was a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 Wednesday, May 20th, James Budge sold 781 shares of Hinge Health stock. The shares were sold at an average price of $55.34, for a total transaction of $43,220.54.
• On Monday, May 11th, James Budge sold 5,906 shares of Hinge Health stock. The shares were sold at an average price of $54.82, for a total transaction of $323,766.92.
• On Monday, March 23rd, James Budge sold 11,006 shares of Hinge Health stock. The shares were sold at an average price of $42.26, for a total transaction of $465,113.56.

Hinge Health Stock Up 1.0%

Shares of HNGE stock traded up $0.51 during trading hours on Wednesday, hitting $53.49. 990,814 shares of the company’s stock traded hands, compared to its average volume of 1,735,060. The stock’s fifty day simple moving average is $45.61 and its two-hundred day simple moving average is $44.52. Hinge Health Inc. has a 12-month low of $30.08 and a 12-month high of $62.18. The stock has a market cap of $4.14 billion and a price-to-earnings ratio of -4.33.

Hinge Health (NYSE:HNGE) last released its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $182.31 million during the quarter. During the same quarter in the previous year, the business posted $1.30 earnings per share. Hinge Health’s revenue for the quarter was up 47.2% on a year-over-year basis. On average, equities analysts forecast that Hinge Health Inc. will post 1.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hinge Health

A number of large investors have recently added to or reduced their stakes in HNGE. Marshall Wace LLP bought a new stake in Hinge Health in the 2nd quarter worth approximately $367,000. Sei Investments Co. bought a new stake in Hinge Health in the 2nd quarter worth approximately $869,000. Squarepoint Ops LLC bought a new stake in Hinge Health in the 2nd quarter worth approximately $19,706,000. Raymond James Financial Inc. bought a new stake in Hinge Health in the 2nd quarter worth approximately $3,258,000. Finally, Sandia Investment Management LP bought a new stake in Hinge Health in the 2nd quarter worth approximately $657,000.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Raymond James Financial restated an “outperform” rating and issued a $70.00 price objective on shares of Hinge Health in a report on Wednesday, May 6th. Canaccord Genuity Group boosted their price objective on shares of Hinge Health from $53.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Citizens Jmp boosted their price objective on shares of Hinge Health from $65.00 to $80.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 6th. Citigroup restated an “outperform” rating on shares of Hinge Health in a report on Wednesday, May 6th. Finally, Stifel Nicolaus boosted their price objective on shares of Hinge Health from $59.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.40.

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.