Insider Selling: Hinge Health (NYSE:HNGE) President Sells $3,106,620.00 in Stock

Key Points

• Hinge Health President James Pursley sold 33,000 shares for approximately $3.11 million at an average price of $94.14, reducing his position by 4.71% to 666,909 shares. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
• Hinge Health shares traded at $92.27, near their 12-month high of $96.66. The company recently reported quarterly revenue growth of 53% year over year and earnings of $0.59 per share, exceeding analyst expectations.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $103.71; several firms recently raised their targets, including Stifel Nicolaus to $115.

Hinge Health Inc. (NYSE:HNGE - Get Free Report) President James Pursley sold 33,000 shares of the business's stock in a transaction on Monday, September 21st. The shares were sold at an average price of $94.14, for a total value of $3,106,620.00. Following the transaction, the president owned 666,909 shares of the company's stock, valued at approximately $62,782,813.26. The trade was a 4.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, August 21st, James Pursley sold 33,000 shares of Hinge Health stock. The stock was sold at an average price of $88.05, for a total value of $2,905,650.00.

Hinge Health Price Performance

Shares of NYSE:HNGE traded down $1.88 on Wednesday, hitting $92.27. 1,702,459 shares of the company's stock were exchanged, compared to its average volume of 1,586,792. Hinge Health Inc. has a 12 month low of $30.08 and a 12 month high of $96.66. The stock has a market capitalization of $7.45 billion, a price-to-earnings ratio of 72.09 and a beta of 1.38. The business's 50 day simple moving average is $86.84 and its two-hundred day simple moving average is $66.66.

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

Hedge Funds Weigh In On Hinge Health

Several hedge funds have recently modified their holdings of HNGE. BIT Capital GmbH lifted its stake in shares of Hinge Health by 79.3% during the fourth quarter. BIT Capital GmbH now owns 3,316,101 shares of the company's stock worth $154,033,000 after buying an additional 1,466,577 shares during the period. 11.2 Capital Management LLC purchased a new stake in shares of Hinge Health during the second quarter valued at $204,566,531. Wellington Management Group LLP increased its position in shares of Hinge Health by 169.7% in the 2nd quarter. Wellington Management Group LLP now owns 1,205,584 shares of the company's stock valued at $100,063,000 after acquiring an additional 758,594 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Hinge Health by 225.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company's stock worth $44,852,000 after acquiring an additional 806,007 shares during the last quarter. Finally, Alkeon Capital Management LLC raised its stake in 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 acquiring an additional 415,093 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts have recently commented on HNGE shares. Stifel Nicolaus boosted their price target on shares of Hinge Health from $96.00 to $115.00 and gave the company a "buy" rating in a report on Tuesday, September 8th. Evercore reiterated an "outperform" rating and set a $105.00 price objective on shares of Hinge Health in a research note on Wednesday, August 5th. Wall Street Zen lowered shares of Hinge Health from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Piper Sandler reissued an "overweight" rating on shares of Hinge Health in a research note on Wednesday, June 10th. Finally, Wells Fargo & Company upped their target price on Hinge Health from $90.00 to $103.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Hinge Health currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.71.

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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