Insider Selling: Hinge Health (NYSE:HNGE) CFO Sells 5,906 Shares of Stock

Hinge Health Inc. (NYSE:HNGE) CFO James Budge sold 5,906 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $54.82, for a total value of $323,766.92. Following the completion of the transaction, the chief financial officer directly owned 386,293 shares of the company’s stock, valued at approximately $21,176,582.26. The trade was a 1.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 Monday, March 23rd, James Budge sold 11,006 shares of Hinge Health stock. The stock was sold at an average price of $42.26, for a total value of $465,113.56.

Hinge Health Stock Performance

Shares of NYSE:HNGE traded up $0.43 on Tuesday, hitting $55.17. The company’s stock had a trading volume of 1,153,813 shares, compared to its average volume of 1,256,089. Hinge Health Inc. has a 12 month low of $30.08 and a 12 month high of $62.18. The company has a market capitalization of $4.35 billion and a price-to-earnings ratio of -4.47. The stock’s 50-day moving average is $43.34 and its two-hundred day moving average is $44.07.

Hinge Health (NYSE:HNGE) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.33. Hinge Health had a negative return on equity of 279.39% and a negative net margin of 78.95%.The company had revenue of $182.31 million during the quarter. During the same period in the previous year, the company posted $1.30 EPS. The company’s revenue for the quarter was up 47.2% compared to the same quarter last year. Equities analysts expect that Hinge Health Inc. will post 0.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Raymond James Financial reaffirmed an “outperform” rating and set a $70.00 price target on shares of Hinge Health in a research note on Wednesday, May 6th. Canaccord Genuity Group increased their price target on Hinge Health from $53.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. KeyCorp set a $55.00 price target on Hinge Health in a research note on Wednesday, February 11th. Barclays increased their price target on Hinge Health from $52.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, Wells Fargo & Company increased their price target on Hinge Health from $68.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Hinge Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.40.

Institutional Trading of Hinge Health

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Hinge Health by 22.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,237,839 shares of the company’s stock worth $60,753,000 after purchasing an additional 228,234 shares during the period. Tudor Investment Corp ET AL boosted its stake in Hinge Health by 25.9% in the 3rd quarter. Tudor Investment Corp ET AL now owns 376,266 shares of the company’s stock worth $18,467,000 after purchasing an additional 77,464 shares during the period. First Eagle Investment Management LLC acquired a new position in Hinge Health in the 3rd quarter worth approximately $4,074,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Hinge Health by 755.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,354 shares of the company’s stock valued at $1,271,000 after acquiring an additional 24,155 shares in the last quarter. Finally, Braidwell LP purchased a new position in Hinge Health during the 3rd quarter valued at about $44,686,000.

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.