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

Hinge Health Inc. (NYSE:HNGE) CFO James Budge sold 35,907 shares of the company’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 completion of the sale, the chief financial officer owned 256,207 shares in the company, valued at approximately $31,159,895.34. This trade represents a 12.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 shares were sold at an average price of $103.13, for a total transaction 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 transaction of $4,969,931.45.

Hinge Health Stock Performance

Shares of HNGE traded down $0.60 during mid-day trading on Thursday, reaching $121.12. The company had a trading volume of 743,497 shares, compared to its average volume of 1,637,978. The firm has a 50-day moving average price of $102.75 and a 200 day moving average price of $70.04. Hinge Health Inc. has a 52 week low of $30.08 and a 52 week high of $126.40. The company has a market capitalization of $9.77 billion, a price-to-earnings ratio of 61.80, a price-to-earnings-growth ratio of 1.74 and a beta of 1.19.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings data on Monday, November 2nd. The company reported $0.71 earnings per share for the quarter, beating 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 company had revenue of $234.97 million during the quarter. During the same period last year, the business earned ($0.02) EPS. The firm’s quarterly revenue was up 52.4% on a year-over-year basis. As a group, research analysts forecast that Hinge Health Inc. will post 1.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hinge Health

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on HNGE shares. Evercore reissued an “outperform” rating and issued a $105.00 target price on shares of Hinge Health in a research note on Wednesday, August 5th. Zacks Research raised Hinge Health from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 6th. Barclays lifted their price target on Hinge Health from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, October 12th. Stifel Nicolaus upped their price target on shares of Hinge Health from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, November 3rd. Finally, Truist Financial increased their price objective on shares of Hinge Health from $112.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, November 3rd. Two equities 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 stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price 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.