Key Points
- CEO Daniel Antonio Perez sold 166,665 shares on Jan. 5 at an average $46.38 for $7.73M, having also sold 166,670 shares on Dec. 15 at $48.53 (~$8.09M).
- Hinge Health recently beat expectations (EPS $(0.02) vs. $(0.20); revenue $154.21M vs. $142.44M), with revenue up 53.3% YoY, and its board authorized a $250M stock buyback (up to 7.2% of shares).
- The stock trades near $48.82 (up ~4.1%), the company has a market cap of about $3.84B, and analysts hold a consensus "Moderate Buy" rating with an average target of $59.60.
Hinge Health Inc. (NYSE:HNGE - Get Free Report) CEO Daniel Antonio Perez sold 166,665 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $46.38, for a total transaction of $7,729,922.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Daniel Antonio Perez also recently made the following trade(s):
- On Monday, December 15th, Daniel Antonio Perez sold 166,670 shares of Hinge Health stock. The stock was sold at an average price of $48.53, for a total transaction of $8,088,495.10.
Hinge Health Trading Up 4.1%
NYSE HNGE opened at $48.82 on Wednesday. Hinge Health Inc. has a 12-month low of $33.42 and a 12-month high of $62.18. The company has a fifty day simple moving average of $47.14 and a two-hundred day simple moving average of $49.97. The stock has a market cap of $3.84 billion and a P/E ratio of -3.72.
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 company had revenue of $154.21 million for the quarter, compared to analysts' expectations of $142.44 million. Hinge Health's revenue was up 53.3% compared to the same quarter last year.
Hinge Health announced that its board has authorized a stock buyback plan on Wednesday, November 12th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 7.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.
Wall Street Analyst Weigh In
HNGE has been the topic of a number of recent research reports. Canaccord Genuity Group upped their target price on Hinge Health from $61.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, November 5th. Evercore ISI upped their price objective on shares of Hinge Health from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Wednesday, October 8th. Barclays cut their price objective on shares of Hinge Health from $65.00 to $60.00 and set an "overweight" rating on the stock in a research note on Monday. Morgan Stanley boosted their target price on shares of Hinge Health from $57.00 to $67.00 and gave the company an "overweight" rating in a research report on Tuesday, September 23rd. Finally, Wall Street Zen downgraded Hinge Health from a "buy" rating to a "hold" rating in a research report on Sunday, December 28th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Hinge Health currently has an average rating of "Moderate Buy" and an average price target of $59.60.
Check Out Our Latest Analysis on HNGE
Institutional Trading of Hinge Health
A number of hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Hinge Health during the third quarter valued at $37,000. Montag A & Associates Inc. purchased a new stake in shares of Hinge Health during the 2nd quarter worth about $41,000. SBI Securities Co. Ltd. acquired a new stake in shares of Hinge Health during the 2nd quarter valued at about $48,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Hinge Health in the 3rd quarter valued at about $49,000. Finally, Jones Financial Companies Lllp increased its stake in shares of Hinge Health by 348.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,120 shares of the company's stock valued at $54,000 after purchasing an additional 870 shares in the last quarter.
Hinge Health Company Profile
(
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
