Hinge Health (NYSE:HNGE) CEO Sells 150,000 Shares

Hinge Health Inc. (NYSE:HNGE) CEO Daniel Perez sold 150,000 shares of the firm’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $89.44, for a total value of $13,416,000.00. Following the completion of the transaction, the chief executive officer owned 35,470 shares of the company’s stock, valued at approximately $3,172,436.80. This represents a 80.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Daniel Antonio Perez also recently made the following trade(s):

• On Thursday, September 10th, Daniel Perez sold 100,000 shares of Hinge Health stock. The stock was sold at an average price of $89.45, for a total transaction of $8,945,000.00.

Hinge Health Stock Up 0.7%

Shares of Hinge Health stock traded up $0.60 during trading on Friday, hitting $88.86. 1,725,883 shares of the company were exchanged, compared to its average volume of 1,706,538. Hinge Health Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $95.57. The stock has a market capitalization of $7.17 billion, a price-to-earnings ratio of 68.42 and a beta of 1.38. The firm has a 50 day moving average price of $86.14 and a 200 day moving average price of $63.96.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, beating 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 business had revenue of $212.82 million for the quarter. During the same quarter in the prior year, the company earned $0.59 earnings per share. The firm’s revenue was up 53.0% compared to the same quarter last year. Analysts predict that Hinge Health Inc. will post 1.25 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Wall Street Zen cut shares of Hinge Health from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research cut shares of Hinge Health from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Needham & Company LLC increased their price target on Hinge Health from $76.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Citigroup reissued an “outperform” rating on shares of Hinge Health in a report on Monday, July 27th. Finally, Citizens Jmp lifted their target price on Hinge Health from $96.00 to $107.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Hinge Health has a consensus rating of “Moderate Buy” and an average price target of $101.93.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HNGE. Marshall Wace LLP acquired a new stake in Hinge Health in the second quarter worth about $367,000. Sei Investments Co. acquired a new position in Hinge Health in the second quarter worth approximately $869,000. Squarepoint Ops LLC acquired a new position in shares of Hinge Health in the 2nd quarter worth $19,706,000. Raymond James Financial Inc. acquired a new stake in Hinge Health during the 2nd quarter worth about $3,258,000. Finally, Sandia Investment Management LP acquired a new stake in shares of Hinge Health during the second quarter valued at approximately $657,000.

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.