Key Points
- Hinge Health CFO James Budge sold 55,561 shares for approximately $4.97 million at an average price of $89.45. The sale was conducted under a pre-arranged Rule 10b5-1 plan and reduced his direct ownership by 13.73% to 349,062 shares.
- Hinge Health shares opened at $88.86, near their 52-week high of $95.57, with a market capitalization of roughly $7.17 billion. The company recently reported quarterly revenue of $212.82 million, up 53% year over year, and earnings that exceeded analyst expectations.
- Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $101.93, although some firms recently downgraded the stock to “Hold.”
Hinge Health Inc. (NYSE:HNGE - Get Free Report) CFO James Budge sold 55,561 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $89.45, for a total value of $4,969,931.45. Following the completion of the transaction, the chief financial officer directly owned 349,062 shares of the company's stock, valued at approximately $31,223,595.90. This represents a 13.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Hinge Health Stock Up 0.7%
Shares of HNGE opened at $88.86 on Friday. The firm's fifty day moving average is $86.14 and its two-hundred day moving average is $63.96. The stock has a market cap of $7.17 billion, a PE ratio of 69.42 and a beta of 1.38. Hinge Health Inc. has a 52-week low of $30.08 and a 52-week high of $95.57.
Hinge Health (NYSE:HNGE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share 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 firm had revenue of $212.82 million for the quarter. During the same period in the prior year, the business posted $0.59 earnings per share. The business's quarterly revenue was up 53.0% on a year-over-year basis. As a group, research analysts anticipate that Hinge Health Inc. will post 1.25 earnings per share for the current year.
Wall Street Analyst Weigh In
HNGE has been the topic of a number of recent research reports. Wall Street Zen lowered Hinge Health from a "buy" rating to a "hold" rating in a research note on Saturday, August 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. Raymond James Financial raised their price objective on shares of Hinge Health from $70.00 to $80.00 and gave the stock an "outperform" rating in a research report on Monday, June 15th. Barclays boosted their target price on shares of Hinge Health from $97.00 to $100.00 and gave the company an "overweight" rating in a report on Wednesday, August 5th. Finally, Citizens Jmp raised their price target on shares of Hinge Health from $96.00 to $107.00 and gave the stock a "market outperform" rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Hinge Health presently has an average rating of "Moderate Buy" and a consensus target price of $101.93.
Check Out Our Latest Analysis on HNGE
Hedge Funds Weigh In On Hinge Health
A number of hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc raised its position in Hinge Health by 140.0% in the second quarter. IFP Advisors Inc now owns 324 shares of the company's stock valued at $27,000 after purchasing an additional 189 shares during the period. Nykredit A S purchased a new stake in shares of Hinge Health in the 2nd quarter valued at $29,000. Wells Fargo & Company MN lifted its stake in Hinge Health by 160.0% during the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company's stock worth $25,000 after acquiring an additional 336 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Hinge Health during the 4th quarter valued at about $26,000. Finally, CENTRAL TRUST Co acquired a new position in Hinge Health in the 1st quarter valued at about $37,000.
Hinge Health Company Profile
(
Get Free Report)
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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