James Pursley Sells 33,000 Shares of Hinge Health (NYSE:HNGE) Stock

Hinge Health Inc. (NYSE:HNGE) President James Pursley sold 33,000 shares of the stock in a transaction that occurred on 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 sale, the president directly owned 706,235 shares of the company’s stock, valued at approximately $62,183,991.75. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 22nd, James Pursley sold 33,000 shares of Hinge Health stock. The stock was sold at an average price of $69.31, for a total transaction of $2,287,230.00.
• On Tuesday, May 26th, James Pursley sold 16,000 shares of Hinge Health stock. The stock was sold at an average price of $53.79, for a total transaction of $860,640.00.

Hinge Health Stock Performance

NYSE HNGE opened at $89.40 on Wednesday. Hinge Health Inc. has a 1 year low of $30.08 and a 1 year high of $93.13. The business’s fifty day moving average is $82.25 and its two-hundred day moving average is $59.24. The stock has a market capitalization of $7.21 billion, a P/E ratio of 69.84 and a beta of 1.30.

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Hinge Health in a research note on Monday, August 3rd. Evercore reiterated an “outperform” rating and issued a $105.00 target price on shares of Hinge Health in a report on Wednesday, August 5th. Wells Fargo & Company lifted their target price on shares of Hinge Health from $90.00 to $103.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Canaccord Genuity Group set a $105.00 price target on shares of Hinge Health in a report on Wednesday, August 5th. Finally, Citigroup restated an “outperform” rating on shares of Hinge Health in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Hinge Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.57.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Wells Fargo & Company MN boosted its position in Hinge Health by 160.0% during the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock worth $25,000 after acquiring an additional 336 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Hinge Health in the 4th quarter valued at about $26,000. Nykredit A S acquired a new position in shares of Hinge Health in the 2nd quarter valued at about $29,000. CENTRAL TRUST Co purchased a new stake in shares of Hinge Health in the first quarter worth approximately $37,000. Finally, High Point Wealth Management LLC purchased a new stake in shares of Hinge Health in the fourth quarter worth approximately $46,000.

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.