Hinge Health (NYSE:HNGE) President Sells $726,000.00 in Stock

Hinge Health Inc. (NYSE:HNGE) President James Pursley sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $48.40, for a total transaction of $726,000.00. Following the sale, the president directly owned 769,778 shares of the company’s stock, valued at approximately $37,257,255.20. This trade represents a 1.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

James Pursley also recently made the following trade(s):

• On Friday, November 21st, James Pursley sold 15,000 shares of Hinge Health stock. The shares were sold at an average price of $45.57, for a total transaction of $683,550.00.

Hinge Health Stock Performance

Shares of HNGE traded up $0.12 during trading hours on Tuesday, hitting $48.76. The stock had a trading volume of 551,434 shares, compared to its average volume of 1,206,350. Hinge Health Inc. has a 1-year low of $33.42 and a 1-year high of $62.18. The firm has a 50 day simple moving average of $47.75 and a 200-day simple moving average of $49.22.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.18. The firm had revenue of $154.21 million during the quarter, compared to analyst estimates of $142.44 million. Hinge Health’s revenue was up 53.3% compared to the same quarter last year.

Hinge Health declared that its board has authorized a stock buyback program on Wednesday, November 12th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 7.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Hinge Health

Institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. purchased a new position in Hinge Health in the third quarter valued at about $37,000. Montag A & Associates Inc. bought a new stake in shares of Hinge Health in the 2nd quarter worth approximately $41,000. SBI Securities Co. Ltd. purchased a new stake in Hinge Health in the second quarter worth $48,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Hinge Health in the third quarter valued at $49,000. Finally, Jones Financial Companies Lllp raised its stake in shares of Hinge Health by 348.0% in the third quarter. Jones Financial Companies Lllp now owns 1,120 shares of the company’s stock valued at $54,000 after buying an additional 870 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Piper Sandler restated an “overweight” rating and issued a $71.00 target price (up previously from $70.00) on shares of Hinge Health in a report on Wednesday, November 5th. Robert W. Baird began coverage on Hinge Health in a research report on Friday, September 5th. They set a “neutral” rating and a $56.00 target price on the stock. Baird R W upgraded Hinge Health to a “hold” rating in a report on Friday, September 5th. Wall Street Zen upgraded Hinge Health from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Evercore ISI upped their target price on shares of Hinge Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Hinge Health presently has an average rating of “Moderate Buy” and a consensus target price of $59.93.

Hinge Health Company Profile

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.