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

Key Points

• Hinge Health President James Pursley sold 33,000 shares for approximately $2.91 million at an average price of $88.05, reducing his direct holdings by 4.46%. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan.
• HNGE shares reached $89.78, near their 52-week high of $93.13, and have risen significantly above their 50-day and 200-day moving averages. The company has a $7.25 billion market capitalization and a P/E ratio of 70.15.
• Hinge Health reported quarterly EPS of $0.59, exceeding estimates of $0.28, while revenue increased 53% year over year to $212.82 million. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $100.57.

Hinge Health Inc. (NYSE:HNGE - Get Free Report) President James Pursley sold 33,000 shares of the firm's stock in a transaction dated Friday, August 21st. The stock was 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 directly owned 706,235 shares of the company's stock, valued at approximately $62,183,991.75. This represents a 4.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 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 shares were sold at an average price of $69.31, for a total value of $2,287,230.00.
• On Tuesday, May 26th, James Pursley sold 16,000 shares of Hinge Health stock. The stock was sold at an average price of $53.79, for a total value of $860,640.00.

Hinge Health Price Performance

HNGE stock traded up $1.36 during midday trading on Monday, hitting $89.78. 2,580,438 shares of the stock traded hands, compared to its average volume of 1,532,394. Hinge Health Inc. has a 1-year low of $30.08 and a 1-year high of $93.13. The stock's fifty day simple moving average is $81.40 and its 200-day simple moving average is $58.45. The firm has a market cap of $7.25 billion, a P/E ratio of 70.15 and a beta of 1.30.

Hinge Health (NYSE:HNGE - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, topping analysts' consensus estimates 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 firm's revenue for the quarter was up 53.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 EPS. On average, research analysts predict that Hinge Health Inc. will post 1.25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HNGE. Marshall Wace LLP acquired a new position in Hinge Health in the 2nd quarter worth $367,000. Sei Investments Co. bought a new position in shares of Hinge Health during the second quarter worth about $869,000. Squarepoint Ops LLC acquired a new stake in shares of Hinge Health in the 2nd quarter worth about $19,706,000. Raymond James Financial Inc. acquired a new stake in shares of Hinge Health in the 2nd quarter worth about $3,258,000. Finally, Sandia Investment Management LP bought a new stake in Hinge Health in the 2nd quarter valued at about $657,000.

Wall Street Analyst Weigh In

A number of research analysts have commented on HNGE shares. Morgan Stanley upped their price target on Hinge Health from $72.00 to $108.00 and gave the stock an "overweight" rating in a research note on Monday, July 13th. Evercore reaffirmed an "outperform" rating and set a $105.00 price objective on shares of Hinge Health in a research report on Wednesday, August 5th. Zacks Research lowered Hinge Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 11th. Needham & Company LLC raised 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. Finally, Royal Bank Of Canada lifted their price target on Hinge Health from $75.00 to $110.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $100.57.

About Hinge Health

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.

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