Hinge Health (NYSE:HNGE) Stock: Insider James Budge Sells 35,907 Shares

Key Points

• Hinge Health CFO James Budge sold 35,907 shares for about $4.37 million at an average price of $121.62 under a pre-arranged Rule 10b5-1 plan. He retained 256,207 shares after the sale.
• The company reported quarterly EPS of $0.71, beating the $0.27 consensus estimate, while revenue rose 52.4% year over year to $234.97 million.
• Analysts maintain a consensus “Buy” rating, with an average price target of $118.93; HNGE recently traded at $121.12.

Hinge Health Inc. (NYSE:HNGE - Get Free Report) CFO James Budge sold 35,907 shares of the business's stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $121.62, for a total value of $4,367,009.34. Following the transaction, the chief financial officer directly owned 256,207 shares in the company, valued at $31,159,895.34. This trade represents a 12.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

James Budge also recently made the following trade(s):

• On Monday, October 12th, James Budge sold 47,720 shares of Hinge Health stock. The shares were sold at an average price of $103.13, for a total value of $4,921,363.60.
• On Thursday, September 10th, James Budge sold 55,561 shares of Hinge Health stock. The stock was sold at an average price of $89.45, for a total value of $4,969,931.45.

Hinge Health Price Performance

NYSE:HNGE traded down $0.60 during trading hours on Thursday, hitting $121.12. The company had a trading volume of 743,497 shares, compared to its average volume of 1,637,978. The company has a market capitalization of $9.77 billion, a PE ratio of 61.80, a price-to-earnings-growth ratio of 1.74 and a beta of 1.19. The stock has a 50-day moving average price of $102.75 and a 200 day moving average price of $70.04. Hinge Health Inc. has a 52 week low of $30.08 and a 52 week high of $126.40.

Hinge Health (NYSE:HNGE - Get Free Report) last issued its quarterly earnings data on Monday, November 2nd. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.44. Hinge Health had a net margin of 21.02% and a return on equity of 66.96%. The business had revenue of $234.97 million for the quarter. During the same period in the previous year, the firm posted ($0.02) earnings per share. The firm's revenue for the quarter was up 52.4% compared to the same quarter last year. Analysts anticipate that Hinge Health Inc. will post 1.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HNGE has been the topic of a number of research reports. Canaccord Genuity Group lifted their target price on shares of Hinge Health from $105.00 to $134.00 and gave the company a "buy" rating in a research note on Tuesday, November 3rd. Wells Fargo & Company increased their price target on shares of Hinge Health from $103.00 to $132.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 3rd. Robert W. Baird raised their price objective on shares of Hinge Health from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Tuesday, September 22nd. Citizens Jmp lifted their price objective on Hinge Health from $96.00 to $107.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 5th. Finally, Barclays upped their target price on Hinge Health from $100.00 to $110.00 and gave the stock an "overweight" rating in a report on Monday, October 12th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Hinge Health presently has a consensus rating of "Buy" and an average target price of $118.93.

Hedge Funds Weigh In On Hinge Health

Institutional investors have recently added to or reduced their stakes in the company. IFP Advisors Inc lifted its position in Hinge Health by 140.0% during the second quarter. IFP Advisors Inc now owns 324 shares of the company's stock valued at $27,000 after buying an additional 189 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of Hinge Health by 9,400.0% during the 3rd quarter. Global Retirement Partners LLC now owns 285 shares of the company's stock valued at $28,000 after buying an additional 282 shares in the last quarter. Nykredit A S purchased a new stake in shares of Hinge Health in the 2nd quarter worth about $29,000. SBI Securities Co. Ltd. grew its position in shares of Hinge Health by 39.5% in the 3rd quarter. SBI Securities Co. Ltd. now owns 364 shares of the company's stock worth $35,000 after buying an additional 103 shares during the period. Finally, Allworth Financial LP increased its stake in shares of Hinge Health by 402.3% in the 3rd quarter. Allworth Financial LP now owns 437 shares of the company's stock worth $42,000 after acquiring an additional 350 shares in the last quarter.

Hinge Health Company Profile

Hinge Health is a digital health company focused on musculoskeletal care, including support for people with back, joint and muscle pain. Its services are designed to help members manage conditions through personalized, technology-enabled care. The company's offerings include app-based exercise therapy, education and behavioral support, along with access to clinical care teams. Hinge Health also uses wearable motion sensors in some programs to guide and track exercises. Founded in 2015, Hinge Health primarily provides its services through employers and health plans.

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