Hinge Health (NYSE:HNGE) President James Pursley Sells 15,000 Shares

Hinge Health Inc. (NYSE:HNGE) President James Pursley sold 15,000 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $48.40, for a total value of $726,000.00. Following the completion of the sale, the president owned 769,778 shares in the company, valued at $37,257,255.20. This represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Friday, November 21st, James Pursley sold 15,000 shares of Hinge Health stock. The stock was sold at an average price of $45.57, for a total transaction of $683,550.00.

Hinge Health Stock Performance

Shares of NYSE HNGE traded up $0.12 during midday trading on Tuesday, hitting $48.76. The company’s stock had a trading volume of 551,434 shares, compared to its average volume of 1,206,350. The stock has a fifty day moving average price of $47.75 and a 200 day moving average price of $49.22. Hinge Health Inc. has a one year low of $33.42 and a one year high of $62.18.

Hinge Health (NYSE:HNGE) last issued its earnings results on Tuesday, November 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.18. The business had revenue of $154.21 million for the quarter, compared to the consensus estimate of $142.44 million. Hinge Health’s revenue for the quarter was up 53.3% on a year-over-year basis.

Hinge Health declared that its Board of Directors has authorized a stock buyback plan on Wednesday, November 12th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 7.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

HNGE has been the subject of a number of recent analyst reports. Canaccord Genuity Group lifted their target price on Hinge Health from $61.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Baird R W upgraded shares of Hinge Health to a “hold” rating in a research note on Friday, September 5th. Barclays raised their price target on shares of Hinge Health from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Robert W. Baird initiated coverage on shares of Hinge Health in a report on Friday, September 5th. They issued a “neutral” rating and a $56.00 price target on the stock. Finally, Evercore ISI increased their price objective on Hinge Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.93.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HNGE. BIT Capital GmbH increased its stake in Hinge Health by 144.6% in the third quarter. BIT Capital GmbH now owns 1,849,524 shares of the company’s stock valued at $90,775,000 after acquiring an additional 1,093,320 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Hinge Health by 22.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,237,839 shares of the company’s stock valued at $60,753,000 after purchasing an additional 228,234 shares during the last quarter. Bamco Inc. NY purchased a new position in shares of Hinge Health during the 2nd quarter valued at about $48,943,000. Braidwell LP purchased a new position in shares of Hinge Health during the 3rd quarter valued at about $44,686,000. Finally, JPMorgan Chase & Co. bought a new stake in Hinge Health in the 2nd quarter worth approximately $43,840,000.

Hinge Health Company Profile

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.