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

Hinge Health Inc. (NYSE:HNGE) CFO James Budge sold 55,561 shares of Hinge Health stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $89.45, for a total value of $4,969,931.45. Following 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 is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hinge Health Stock Performance

Hinge Health stock traded up $0.60 during trading hours on Friday, hitting $88.86. The company had a trading volume of 1,725,883 shares, compared to its average volume of 1,706,538. The firm has a market cap of $7.17 billion, a P/E ratio of 69.42 and a beta of 1.38. The company has a 50-day moving average price of $86.14 and a two-hundred day moving average price of $63.96. Hinge Health Inc. has a 1 year low of $30.08 and a 1 year high of $95.57.

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Morgan Stanley lifted their target price on Hinge Health from $72.00 to $108.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Piper Sandler restated an “overweight” rating on shares of Hinge Health in a research note on Wednesday, June 10th. Wall Street Zen cut shares of Hinge Health from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Canaccord Genuity Group set a $105.00 target price on Hinge Health in a research note on Wednesday, August 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Hinge Health in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $101.93.

Hedge Funds Weigh In On Hinge Health

Several hedge funds and other institutional investors have recently modified their holdings of the business. IFP Advisors Inc lifted its stake in Hinge Health by 140.0% in the 2nd quarter. IFP Advisors Inc now owns 324 shares of the company’s stock worth $27,000 after purchasing an additional 189 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Hinge Health by 3.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,400 shares of the company’s stock worth $362,000 after purchasing an additional 300 shares during the period. Wells Fargo & Company MN boosted its stake in Hinge Health by 160.0% during the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock worth $25,000 after buying an additional 336 shares during the period. Nykredit A S acquired a new stake in Hinge Health in the 2nd quarter valued at approximately $29,000. Finally, Lazard Asset Management LLC grew its stake in shares of Hinge Health by 0.6% in the first quarter. Lazard Asset Management LLC now owns 63,705 shares of the company’s stock valued at $2,456,000 after buying an additional 386 shares in the last quarter.

Hinge Health Company Profile

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.