Insider Selling: Hinge Health (NYSE:HNGE) CFO Sells $4,921,363.60 in Stock

Hinge Health Inc. (NYSE:HNGE – Get Free Report) CFO James Budge sold 47,720 shares of the firm’s stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $103.13, for a total value of $4,921,363.60. Following the sale, the chief financial officer directly owned 296,728 shares in the company, valued at approximately $30,601,558.64. This trade represents a 13.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 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 value of $4,969,931.45.

Hinge Health Trading Up 0.0%

Shares of HNGE stock opened at $105.02 on Friday. Hinge Health Inc. has a twelve month low of $30.08 and a twelve month high of $107.00. The stock has a market cap of $8.47 billion, a P/E ratio of 82.05 and a beta of 1.37. The stock has a 50 day moving average of $93.30 and a 200 day moving average of $73.26.

Hinge Health (NYSE:HNGE – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 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 business had revenue of $212.82 million for the quarter. During the same quarter in the prior year, the company posted $0.59 EPS. The company’s revenue for the quarter was up 53.0% on a year-over-year basis. On average, research analysts predict that Hinge Health Inc. will post 1.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HNGE. Truist Financial boosted their target price on shares of Hinge Health from $85.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Barclays raised their price target on shares of Hinge Health from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday. Needham & Company LLC raised their price target on shares of Hinge Health from $97.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, September 30th. Evercore reaffirmed an “outperform” rating and issued a $105.00 price objective on shares of Hinge Health in a report on Wednesday, August 5th. Finally, Wells Fargo & Company upped their price objective on shares of Hinge Health from $90.00 to $103.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $106.00.

Check Out Our Latest Stock Analysis on Hinge Health

Hedge Funds Weigh In On Hinge Health

A number of hedge funds have recently bought and sold shares of HNGE. 11.2 Capital Management LLC acquired a new stake in Hinge Health in the second quarter valued at approximately $204,566,531. Assenagon Asset Management S.A. increased its position in shares of Hinge Health by 2,141.9% in the third quarter. Assenagon Asset Management S.A. now owns 1,854,922 shares of the company’s stock valued at $180,373,000 after buying an additional 1,772,182 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Hinge Health by 169.7% in the second quarter. Wellington Management Group LLP now owns 1,205,584 shares of the company’s stock valued at $100,063,000 after buying an additional 758,594 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Hinge Health by 225.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company’s stock worth $44,852,000 after buying an additional 806,007 shares during the period. Finally, Alkeon Capital Management LLC raised its stake in shares of Hinge Health by 110.4% during the 4th quarter. Alkeon Capital Management LLC now owns 791,104 shares of the company’s stock worth $36,747,000 after buying an additional 415,093 shares during the period.

Hinge Health Company Profile

(Get Free Report)

Hinge Health, Inc is a digital healthcare company focused on musculoskeletal (MSK) conditions, including back and joint pain. The company provides virtual care designed to help members manage pain, improve mobility and avoid or delay more invasive treatments.

Its platform combines a mobile application, motion-sensing technology, personalized exercise therapy, education and support from a care team that may include clinical specialists. Hinge Health offers programs for conditions such as chronic back pain, knee pain and other common MSK issues, with services generally provided through employers, health plans and other healthcare organizations.

Hinge Health was founded in 2015 and is headquartered in San Francisco, California.

Further Reading

Insider Buying and Selling by Quarter for Hinge Health (NYSE:HNGE)

Receive News & Ratings for Hinge Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hinge Health and related companies with MarketBeat.com's FREE daily email newsletter.