Hinge Health (NYSE:HNGE) CFO James Budge Sells 35,907 Shares of Company Stock

Hinge Health Inc. (NYSE:HNGE) CFO James Budge sold 35,907 shares of the firm’s stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $121.62, for a total transaction of $4,367,009.34. Following the sale, the chief financial officer owned 256,207 shares of the company’s stock, valued at approximately $31,159,895.34. The trade was a 12.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 Monday, October 12th, James Budge sold 47,720 shares of Hinge Health stock. The stock was sold at an average price of $103.13, for a total value of $4,921,363.60.
• 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 Stock Down 0.5%

Shares of Hinge Health stock opened at $121.12 on Friday. Hinge Health Inc. has a 52 week low of $30.08 and a 52 week high of $126.40. The business’s fifty day simple moving average is $103.33 and its 200-day simple moving average is $70.44. The firm has a market cap of $9.77 billion, a PE ratio of 61.80, a price-to-earnings-growth ratio of 1.72 and a beta of 1.19.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings data on Monday, November 2nd. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.44. Hinge Health had a return on equity of 66.96% and a net margin of 21.02%. The firm had revenue of $234.97 million during the quarter. During the same period in the previous year, the business posted ($0.02) earnings per share. The firm’s revenue for the quarter was up 52.4% compared to the same quarter last year. As a group, equities analysts expect that Hinge Health Inc. will post 1.56 earnings per share for the current year.

Hedge Funds Weigh In On Hinge Health

Several institutional investors have recently modified their holdings of HNGE. IFP Advisors Inc increased its position in shares of Hinge Health by 140.0% during the second quarter. IFP Advisors Inc now owns 324 shares of the company’s stock worth $27,000 after acquiring an additional 189 shares during the period. Global Retirement Partners LLC boosted its holdings in Hinge Health by 9,400.0% in the third quarter. Global Retirement Partners LLC now owns 285 shares of the company’s stock valued at $28,000 after purchasing an additional 282 shares during the period. Nykredit A S acquired a new position in Hinge Health during the 2nd quarter worth $29,000. SBI Securities Co. Ltd. grew its stake in Hinge Health by 39.5% during the 3rd quarter. SBI Securities Co. Ltd. now owns 364 shares of the company’s stock worth $35,000 after purchasing an additional 103 shares in the last quarter. Finally, Allworth Financial LP grew its stake in Hinge Health by 402.3% during the 3rd quarter. Allworth Financial LP now owns 437 shares of the company’s stock worth $42,000 after purchasing an additional 350 shares in the last quarter.

Analyst Upgrades and Downgrades

HNGE has been the subject of a number of research analyst reports. Citigroup reaffirmed an “outperform” rating on shares of Hinge Health in a research report on Monday, July 27th. Stifel Nicolaus raised their price target on Hinge Health from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, November 3rd. Canaccord Genuity Group lifted their price objective on Hinge Health from $105.00 to $134.00 and gave the company a “buy” rating in a research note on Tuesday, November 3rd. Wells Fargo & Company lifted their price objective on Hinge Health from $103.00 to $132.00 and gave the company an “overweight” rating in a research note on Tuesday, November 3rd. Finally, Bank of America began coverage on Hinge Health in a report on Tuesday, September 29th. They issued a “buy” rating and a $110.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $118.93.

About Hinge Health

Hinge Health is a digital health company focused on musculoskeletal care, including support for people with back, joint and muscle pain. Its services are designed to help members manage conditions through personalized, technology-enabled care. The company’s offerings include app-based exercise therapy, education and behavioral support, along with access to clinical care teams. Hinge Health also uses wearable motion sensors in some programs to guide and track exercises. Founded in 2015, Hinge Health primarily provides its services through employers and health plans.