Key Points
- CFO James Budge sold 10,491 shares on Dec. 22 at an average price of $48.41 for about $507,869, leaving him with 441,174 shares (a 2.32% reduction, valued at roughly $21.36M).
- Budge previously sold 44,589 shares on Nov. 25 at $47.47 for about $2.12M, indicating multiple recent insider dispositions.
- Hinge Health recently beat quarterly EPS and revenue expectations (revenue up 53.3% YoY) and its board approved a $250 million repurchase plan (up to ~7.2% of shares), a signal the board may view the stock as undervalued.
Hinge Health Inc. (NYSE:HNGE - Get Free Report) CFO James Budge sold 10,491 shares of the business's stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $48.41, for a total transaction of $507,869.31. Following the completion of the transaction, the chief financial officer directly owned 441,174 shares in the company, valued at $21,357,233.34. This represents a 2.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
James Budge also recently made the following trade(s):
- On Tuesday, November 25th, James Budge sold 44,589 shares of Hinge Health stock. The shares were sold at an average price of $47.47, for a total transaction of $2,116,639.83.
Hinge Health Trading Up 0.2%
Shares of Hinge Health stock opened at $48.76 on Wednesday. Hinge Health Inc. has a 52-week low of $33.42 and a 52-week high of $62.18. The company's 50-day simple moving average is $47.72 and its 200-day simple moving average is $49.29.
Hinge Health (NYSE:HNGE - Get Free Report) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.20) by $0.18. The business had revenue of $154.21 million during the quarter, compared to analysts' expectations of $142.44 million. The firm's revenue was up 53.3% on a year-over-year basis.
Hinge Health announced that its board has approved a stock repurchase plan on Wednesday, November 12th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to repurchase up to 7.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.
Institutional Trading of Hinge Health
Institutional investors and hedge funds have recently modified their holdings of the business. Tudor Investment Corp ET AL increased its stake in shares of Hinge Health by 25.9% during the 3rd quarter. Tudor Investment Corp ET AL now owns 376,266 shares of the company's stock worth $18,467,000 after purchasing an additional 77,464 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Hinge Health during the 3rd quarter valued at $743,000. Dark Forest Capital Management LP purchased a new position in Hinge Health during the third quarter worth $290,000. Voleon Capital Management LP acquired a new position in shares of Hinge Health in the third quarter worth $5,991,000. Finally, Verition Fund Management LLC purchased a new stake in shares of Hinge Health in the third quarter valued at $238,000.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on HNGE shares. Barclays raised their target price on Hinge Health from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Wednesday, November 5th. Stifel Nicolaus raised their price objective on shares of Hinge Health from $63.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, September 11th. Weiss Ratings restated a "sell (d)" rating on shares of Hinge Health in a research report on Wednesday, October 8th. Piper Sandler reiterated an "overweight" rating and set a $71.00 price target (up from $70.00) on shares of Hinge Health in a research report on Wednesday, November 5th. Finally, Morgan Stanley upped their price target on Hinge Health from $57.00 to $67.00 and gave the stock an "overweight" rating in a report on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Hinge Health presently has a consensus rating of "Moderate Buy" and an average target price of $59.93.
Read Our Latest Report on HNGE
About Hinge Health
(
Get Free Report)
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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