Hinge Health (NYSE:HNGE) CFO James Budge Sells 55,561 Shares

Key Points

• CFO James Budge sold 55,561 Hinge Health shares at an average price of $89.45, generating approximately $4.97 million. The transaction was made under a pre-arranged Rule 10b5-1 plan and reduced his ownership by 13.73%.
• Hinge Health shares rose 0.7% to $88.86, near the company’s 52-week high of $95.57. The company recently reported adjusted earnings of $0.59 per share, beating estimates of $0.28, while revenue grew 53% year over year to $212.82 million.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $101.93; Needham and Stifel recently raised their targets to $97 and $115, respectively.

Hinge Health Inc. (NYSE:HNGE - Get Free Report) CFO James Budge sold 55,561 shares of the company's stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $89.45, for a total transaction of $4,969,931.45. Following the completion of the transaction, the chief financial officer owned 349,062 shares in the company, valued at approximately $31,223,595.90. This trade represents a 13.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Hinge Health Stock Up 0.7%

Shares of NYSE HNGE traded up $0.60 during mid-day trading on Friday, reaching $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 moving average price is $86.14 and its 200 day moving average price is $63.96. Hinge Health Inc. has a 52 week low of $30.08 and a 52 week high of $95.57. The stock has a market capitalization of $7.17 billion, a PE ratio of 69.42 and a beta of 1.38.

Hinge Health (NYSE:HNGE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, beating 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 firm had revenue of $212.82 million for the quarter. During the same quarter last year, the company posted $0.59 earnings per share. Hinge Health's revenue for the quarter was up 53.0% compared to the same quarter last year. On average, sell-side analysts predict that Hinge Health Inc. will post 1.25 earnings per share for the current year.

Institutional Trading of Hinge Health

Hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets increased its stake in shares of Hinge Health by 162.7% in the fourth quarter. BNP Paribas Financial Markets now owns 727,672 shares of the company's stock worth $33,800,000 after purchasing an additional 450,643 shares in the last quarter. Royce & Associates LP purchased a new stake in shares of Hinge Health during the 4th quarter worth approximately $2,091,000. Vista Investment Partners LLC bought a new position in Hinge Health during the second quarter valued at $3,468,000. 11.2 Capital Management LLC bought a new position in shares of Hinge Health in the 2nd quarter valued at about $204,566,531. Finally, Alkeon Capital Management LLC boosted its holdings 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 purchasing an additional 415,093 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HNGE. Needham & Company LLC raised their price target on shares of Hinge Health from $76.00 to $97.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Citigroup reaffirmed an "outperform" rating on shares of Hinge Health in a research report on Monday, July 27th. Stifel Nicolaus boosted their target price on Hinge Health from $96.00 to $115.00 and gave the stock a "buy" rating in a report on Tuesday. Robert W. Baird increased their price target on shares of Hinge Health from $55.00 to $65.00 and gave the company a "neutral" rating in a report on Wednesday, June 17th. Finally, Wall Street Zen downgraded Hinge Health from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Hinge Health currently has a consensus rating of "Moderate Buy" and an average price target of $101.93.

About Hinge Health

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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