Hinge Health (NYSE:HNGE) Stock: Insider James Budge Sells 47,720 Shares

Hinge Health Inc. (NYSE:HNGE) CFO James Budge sold 47,720 shares of Hinge Health 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 completion of the transaction, the chief financial officer owned 296,728 shares in the company, valued at $30,601,558.64. The trade was a 13.85% decrease in their ownership of the stock. 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 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 Stock Up 0.1%

Shares of NYSE:HNGE opened at $105.23 on Thursday. The business has a 50 day moving average price of $92.79 and a 200 day moving average price of $72.77. Hinge Health Inc. has a twelve month low of $30.08 and a twelve month high of $107.00. The company has a market cap of $8.49 billion, a price-to-earnings ratio of 82.21 and a beta of 1.37.

Hinge Health (NYSE:HNGE) last released its earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.31. The firm had revenue of $212.82 million for the quarter. Hinge Health had a return on equity of 51.60% and a net margin of 15.15%. The business’s quarterly revenue was up 53.0% compared to the same quarter last year. During the same period last year, the business earned $0.59 EPS. Analysts anticipate that Hinge Health Inc. will post 1.25 EPS for the current year.

Institutional Investors Weigh In On Hinge Health

A number of institutional investors have recently added to or reduced their stakes in HNGE. 11.2 Capital Management LLC bought a new position in Hinge Health during the second quarter valued at about $204,566,531. Arrowstreet Capital Limited Partnership raised its holdings in Hinge Health by 225.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company’s stock valued at $44,852,000 after acquiring an additional 806,007 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Hinge Health by 169.7% in the 2nd quarter. Wellington Management Group LLP now owns 1,205,584 shares of the company’s stock worth $100,063,000 after acquiring an additional 758,594 shares during the period. Alkeon Capital Management LLC lifted its position in shares of Hinge Health by 110.4% in the 4th quarter. Alkeon Capital Management LLC now owns 791,104 shares of the company’s stock worth $36,747,000 after acquiring an additional 415,093 shares during the period. Finally, Estuary Capital Management LP acquired a new stake in shares of Hinge Health during the 1st quarter worth approximately $15,201,000.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HNGE. Robert W. Baird increased their price objective on Hinge Health from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, September 22nd. Wells Fargo & Company boosted their target price 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. Zacks Research cut shares of Hinge Health from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Morgan Stanley upped their target price on shares of Hinge Health from $72.00 to $108.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Finally, Canaccord Genuity Group set a $105.00 price target on shares of Hinge Health in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

Hinge Health Company Profile

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.