Hinge Health (NYSE:HNGE) CEO Daniel Antonio Perez Sells 150,000 Shares

Key Points

• CEO Daniel Perez sold 150,000 Hinge Health shares for approximately $13.4 million at an average price of $89.44, reducing his stake by 80.88% to 35,470 shares. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
• Hinge Health shares rose 0.7% to $88.86, while the company reported quarterly EPS of $0.59—beating estimates of $0.28—and revenue of $212.82 million, up 53% year over year.
• Analysts remain broadly positive, with a “Moderate Buy” consensus rating and an average price target of $101.93; several firms recently raised their targets to between $110 and $125.

Hinge Health Inc. (NYSE:HNGE - Get Free Report) CEO Daniel Perez sold 150,000 shares of the company's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $89.44, for a total value of $13,416,000.00. Following the completion of the sale, the chief executive officer owned 35,470 shares in the company, valued at approximately $3,172,436.80. This represents a 80.88% decrease in their position. The sale was disclosed in a legal filing 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.

Daniel Antonio Perez also recently made the following trade(s):

• On Thursday, September 10th, Daniel Perez sold 100,000 shares of Hinge Health stock. The stock was sold at an average price of $89.45, for a total transaction of $8,945,000.00.

Hinge Health Trading Up 0.7%

HNGE traded up $0.60 during midday trading on Friday, hitting $88.86. 1,725,883 shares of the company were exchanged, compared to its average volume of 1,706,538. The company's 50 day simple moving average is $86.14 and its 200 day simple moving average is $63.96. The firm has a market capitalization of $7.17 billion, a price-to-earnings ratio of 68.42 and a beta of 1.38. Hinge Health Inc. has a 1-year low of $30.08 and a 1-year high of $95.57.

Hinge Health (NYSE:HNGE - Get Free Report) last announced its quarterly 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. Hinge Health had a return on equity of 51.60% and a net margin of 15.15%.The company had revenue of $212.82 million during the quarter. During the same period in the previous year, the firm posted $0.59 earnings per share. The company's revenue was up 53.0% compared to the same quarter last year. On average, equities analysts anticipate that Hinge Health Inc. will post 1.25 EPS for the current year.

Institutional Trading of Hinge Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its stake in Hinge Health by 18,928.7% during the 2nd quarter. California State Teachers Retirement System now owns 3,642,289 shares of the company's stock worth $302,310,000 after acquiring an additional 3,623,148 shares in the last quarter. 11.2 Capital Management LLC acquired a new stake in Hinge Health during the 2nd quarter worth approximately $204,566,531. BIT Capital GmbH grew its position in Hinge Health by 79.3% in the 4th quarter. BIT Capital GmbH now owns 3,316,101 shares of the company's stock valued at $154,033,000 after buying an additional 1,466,577 shares during the last quarter. Tiger Global Management LLC boosted its holdings in shares of Hinge Health by 227.1% in the fourth quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company's stock valued at $83,877,000 after acquiring an additional 1,253,743 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Hinge Health in the 4th quarter valued at approximately $54,469,000.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Truist Financial lifted their target price on shares of Hinge Health from $85.00 to $112.00 and gave the company a "buy" rating in a research report on Monday, August 10th. Robert W. Baird raised their target price on Hinge Health from $55.00 to $65.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 17th. Citigroup restated an "outperform" rating on shares of Hinge Health in a report on Monday, July 27th. Royal Bank Of Canada upped their target price on shares of Hinge Health from $75.00 to $110.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Finally, KeyCorp upped their price target on Hinge Health from $90.00 to $125.00 and gave the stock an "overweight" rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $101.93.

Hinge Health Company Profile

Hinge Health, Inc is a digital health company focused on musculoskeletal care. The company provides virtual programs designed to help people manage and improve conditions affecting the back, joints and other areas of the musculoskeletal system, with the goal of supporting conservative care and reducing the need for more invasive treatment.

Its platform combines personalized exercise therapy, digital tools, clinical guidance and behavioral support. Depending on the program, members may use the Hinge Health mobile application, wearable motion sensors and remote care from physical therapists, health coaches and other clinicians.

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