Hinge Health (NYSE:HNGE) President James Pursley Sells 33,000 Shares of Stock

Hinge Health Inc. (NYSE:HNGE) President James Pursley sold 33,000 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $88.05, for a total value of $2,905,650.00. Following the completion of the sale, the president owned 706,235 shares in the company, valued at approximately $62,183,991.75. This trade represents a 4.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 22nd, James Pursley sold 33,000 shares of Hinge Health stock. The stock was sold at an average price of $69.31, for a total transaction of $2,287,230.00.
• On Tuesday, May 26th, James Pursley sold 16,000 shares of Hinge Health stock. The shares were sold at an average price of $53.79, for a total transaction of $860,640.00.

Hinge Health Price Performance

Shares of HNGE opened at $89.78 on Tuesday. The company’s 50-day moving average is $81.82 and its 200-day moving average is $58.85. The firm has a market capitalization of $7.24 billion, a PE ratio of 70.15 and a beta of 1.31. Hinge Health Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $93.13.

Hinge Health (NYSE:HNGE) last announced its earnings results on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.28 by $0.31. The business had revenue of $212.82 million during the quarter. Hinge Health had a net margin of 15.15% and a return on equity of 51.60%. The business’s quarterly revenue was up 53.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 EPS. Analysts predict that Hinge Health Inc. will post 1.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Zacks Research lowered Hinge Health from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Needham & Company LLC boosted their price target on Hinge Health from $76.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Canaccord Genuity Group set a $105.00 price objective on Hinge Health in a report on Wednesday, August 5th. KeyCorp increased their price objective on Hinge Health from $90.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Finally, Evercore reissued an “outperform” rating and set a $105.00 target price on shares of Hinge Health in a report on Wednesday, August 5th. One equities research 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $100.57.

Hedge Funds Weigh In On Hinge Health

A number of hedge funds have recently added to or reduced their stakes in HNGE. Wells Fargo & Company MN grew its holdings in shares of Hinge Health by 160.0% during the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock worth $25,000 after purchasing an additional 336 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Hinge Health during the fourth quarter worth about $26,000. Nykredit A S acquired a new stake in Hinge Health during the second quarter worth about $29,000. CENTRAL TRUST Co bought a new stake in shares of Hinge Health during the 1st quarter worth approximately $37,000. Finally, High Point Wealth Management LLC bought a new position in Hinge Health in the fourth quarter valued at approximately $46,000.

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.