Hinge Health (NYSE:HNGE) CFO James Budge Sells 55,561 Shares of Stock

Hinge Health Inc. (NYSE:HNGE) CFO James Budge sold 55,561 shares of the stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $89.45, for a total value of $4,969,931.45. Following the completion of the sale, the chief financial officer owned 349,062 shares of the company’s stock, valued at approximately $31,223,595.90. This trade represents a 13.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hinge Health Stock Performance

Shares of HNGE stock opened at $88.86 on Friday. Hinge Health Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $95.57. The firm has a market capitalization of $7.17 billion, a price-to-earnings ratio of 69.42 and a beta of 1.38. The stock’s 50-day simple moving average is $86.14 and its 200-day simple moving average is $63.96.

Hinge Health (NYSE:HNGE) last released its earnings results on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.31. The company 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 firm’s revenue for the quarter was up 53.0% on a year-over-year basis. During the same quarter last year, the business earned $0.59 earnings per share. As a group, equities analysts forecast that Hinge Health Inc. will post 1.25 earnings per share for the current year.

Institutional Investors Weigh In On Hinge Health

A number of institutional investors have recently added to or reduced their stakes in HNGE. Wells Fargo & Company MN lifted its holdings in Hinge Health by 160.0% during the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock valued at $25,000 after purchasing an additional 336 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Hinge Health during the 4th quarter worth about $26,000. IFP Advisors Inc raised its position in shares of Hinge Health by 140.0% during 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. Nykredit A S purchased a new position in Hinge Health in the 2nd quarter valued at about $29,000. Finally, CENTRAL TRUST Co purchased a new position in Hinge Health in the 1st quarter valued at about $37,000.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on HNGE shares. Barclays upped their target price on Hinge Health from $97.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Royal Bank Of Canada upped their target price on Hinge Health from $75.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Robert W. Baird increased their price target on shares of Hinge Health from $55.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, June 17th. KeyCorp raised their price target on shares of Hinge Health from $90.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Finally, Citizens Jmp lifted their price objective on shares of Hinge Health from $96.00 to $107.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Hinge Health presently has an average rating of “Moderate Buy” and an average price target of $101.93.

About Hinge Health

Hinge Health, Inc is a digital health company focused on musculoskeletal care. The company provides virtual programs designed to help people manage and improve conditions affecting the back, joints and other areas of the musculoskeletal system, with the goal of supporting conservative care and reducing the need for more invasive treatment.

Its platform combines personalized exercise therapy, digital tools, clinical guidance and behavioral support. Depending on the program, members may use the Hinge Health mobile application, wearable motion sensors and remote care from physical therapists, health coaches and other clinicians.