Hinge Health (NYSE:HNGE) CFO James Budge Sells 5,907 Shares of Stock

Hinge Health Inc. (NYSE:HNGE) CFO James Budge sold 5,907 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $53.79, for a total value of $317,737.53. Following the sale, the chief financial officer owned 445,386 shares in the company, valued at approximately $23,957,312.94. This trade represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 Price Performance

Shares of Hinge Health stock opened at $53.49 on Thursday. The firm has a market cap of $4.14 billion and a P/E ratio of -4.33. The firm has a 50 day simple moving average of $45.61 and a 200 day simple moving average of $44.52. Hinge Health Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $62.18.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.33. The business had revenue of $182.31 million during the quarter. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The business’s revenue for the quarter was up 47.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.30 EPS. On average, sell-side analysts expect that Hinge Health Inc. will post 1.21 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on HNGE shares. Weiss Ratings raised shares of Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. Truist Financial set a $79.00 price target on shares of Hinge Health in a research note on Wednesday, May 6th. Citigroup reissued an “outperform” rating on shares of Hinge Health in a research note on Wednesday, May 6th. Canaccord Genuity Group boosted their price target on shares of Hinge Health from $53.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Evercore reissued an “outperform” rating and set a $45.00 price target on shares of Hinge Health in a research note on Wednesday, April 8th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Hinge Health currently has an average rating of “Moderate Buy” and an average target price of $67.40.

Institutional Investors Weigh In On Hinge Health

Institutional investors and hedge funds have recently modified their holdings of the business. BIT Capital GmbH raised its position in shares of Hinge Health by 79.3% in the 4th quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock valued at $154,033,000 after acquiring an additional 1,466,577 shares during the period. Vanguard Group Inc. raised its position in shares of Hinge Health by 110.5% in the 4th quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company’s stock valued at $121,027,000 after acquiring an additional 1,367,693 shares during the period. Tiger Global Management LLC raised its position in shares of Hinge Health by 227.1% in the 4th quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company’s stock valued at $83,877,000 after acquiring an additional 1,253,743 shares during the period. Marshall Wace LLP acquired a new stake in shares of Hinge Health in the 4th quarter valued at approximately $54,469,000. Finally, Millennium Management LLC raised its position in shares of Hinge Health by 225.0% in the 4th quarter. Millennium Management LLC now owns 1,479,642 shares of the company’s stock valued at $68,729,000 after acquiring an additional 1,024,317 shares during the period.

About Hinge Health

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.