Hinge Health (NYSE:HNGE) CFO James Budge Sells 47,720 Shares of Stock

Hinge Health Inc. (NYSE:HNGE) CFO James Budge sold 47,720 shares of the stock in a transaction on Monday, October 12th. The shares were sold at an average price of $103.13, for a total value of $4,921,363.60. Following the completion of the transaction, the chief financial officer owned 296,728 shares of the company’s stock, valued at $30,601,558.64. This trade represents a 13.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 up $0.28 on Tuesday, hitting $105.10. 879,561 shares of the company were exchanged, compared to its average volume of 1,595,888. Hinge Health Inc. has a twelve month low of $30.08 and a twelve month high of $107.00. The firm has a market capitalization of $8.48 billion, a P/E ratio of 82.11 and a beta of 1.37. The company’s 50 day moving average price is $91.79 and its 200-day moving average price is $71.86.

Hinge Health (NYSE:HNGE) last announced its earnings results on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.28 by $0.31. Hinge Health had a net margin of 15.15% and a return on equity of 51.60%. The company had revenue of $212.82 million during the quarter. During the same quarter in the previous year, the business earned $0.59 earnings per share. The business’s quarterly revenue was up 53.0% compared to the same quarter last year. As a group, equities analysts expect that Hinge Health Inc. will post 1.25 EPS for the current year.

Hedge Funds Weigh In On Hinge Health

A number of hedge funds have recently modified their holdings of the stock. 11.2 Capital Management LLC acquired a new position in shares of Hinge Health in the second quarter worth $204,566,531. Wellington Management Group LLP raised its holdings in shares of Hinge Health by 169.7% during the second quarter. Wellington Management Group LLP now owns 1,205,584 shares of the company’s stock worth $100,063,000 after acquiring an additional 758,594 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Hinge Health by 225.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company’s stock valued at $44,852,000 after purchasing an additional 806,007 shares during the last quarter. Alkeon Capital Management LLC boosted its position in Hinge Health by 110.4% during the fourth quarter. Alkeon Capital Management LLC now owns 791,104 shares of the company’s stock valued at $36,747,000 after purchasing an additional 415,093 shares during the last quarter. Finally, Estuary Capital Management LP acquired a new stake in Hinge Health during the first quarter valued at $15,201,000.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HNGE. Stifel Nicolaus raised their price objective on shares of Hinge Health from $96.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, September 8th. Zacks Research cut shares of Hinge Health from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Wall Street Zen downgraded shares of Hinge Health from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Citigroup reissued an “outperform” rating on shares of Hinge Health in a research note on Monday, July 27th. Finally, Weiss Ratings lowered Hinge Health from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

About Hinge Health

Hinge Health, Inc is a digital healthcare company focused on musculoskeletal (MSK) conditions, including back and joint pain. The company provides virtual care designed to help members manage pain, improve mobility and avoid or delay more invasive treatments.

Its platform combines a mobile application, motion-sensing technology, personalized exercise therapy, education and support from a care team that may include clinical specialists. Hinge Health offers programs for conditions such as chronic back pain, knee pain and other common MSK issues, with services generally provided through employers, health plans and other healthcare organizations.

Hinge Health was founded in 2015 and is headquartered in San Francisco, California.