Key Points
- Insider sale: Hinge Health President James Pursley sold 33,000 shares at an average price of $94.14, generating $3.11 million. The transaction was made under a pre-arranged Rule 10b5-1 plan and reduced his position by 4.71%, leaving him with 666,909 shares.
- Strong operating performance: Hinge Health reported quarterly earnings of $0.59 per share, exceeding the $0.28 consensus estimate, while revenue rose 53% year over year to $212.82 million.
- Positive analyst sentiment: Analysts maintain a consensus “Moderate Buy” rating with an average price target of $103.71. HNGE opened at $92.27 and trades near its 52-week high of $96.66.
Hinge Health Inc. (NYSE:HNGE - Get Free Report) President James Pursley sold 33,000 shares of Hinge Health stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $94.14, for a total transaction of $3,106,620.00. Following the transaction, the president directly owned 666,909 shares in the company, valued at $62,782,813.26. The trade was a 4.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
James Pursley also recently made the following trade(s):
- On Friday, August 21st, James Pursley sold 33,000 shares of Hinge Health stock. The shares were sold at an average price of $88.05, for a total transaction of $2,905,650.00.
Hinge Health Stock Performance
Shares of NYSE:HNGE opened at $92.27 on Thursday. The company has a 50 day moving average price of $86.97 and a two-hundred day moving average price of $66.98. The company has a market capitalization of $7.45 billion, a PE ratio of 72.09 and a beta of 1.38. Hinge Health Inc. has a 52 week low of $30.08 and a 52 week high of $96.66.
Hinge Health (NYSE:HNGE - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter. During the same period in the prior year, the business earned $0.59 earnings per share. The company's revenue for the quarter was up 53.0% compared to the same quarter last year. On average, sell-side analysts forecast that Hinge Health Inc. will post 1.25 earnings per share for the current year.
Analysts Set New Price Targets
Several research firms have weighed in on HNGE. KeyCorp lifted their target price on Hinge Health from $90.00 to $125.00 and gave the stock an "overweight" rating in a report on Monday, July 13th. Morgan Stanley increased their price target on Hinge Health from $72.00 to $108.00 and gave the stock an "overweight" rating in a report on Monday, July 13th. Royal Bank Of Canada lifted their price objective on Hinge Health from $75.00 to $110.00 and gave the company an "outperform" rating in a report on Wednesday, August 5th. Canaccord Genuity Group set a $105.00 price objective on Hinge Health in a research report on Wednesday, August 5th. Finally, Needham & Company LLC increased their target price on Hinge Health from $76.00 to $97.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.71.
View Our Latest Stock Report on Hinge Health
Hedge Funds Weigh In On Hinge Health
A number of institutional investors and hedge funds have recently added to or reduced their stakes in HNGE. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Hinge Health in the 4th quarter valued at about $26,000. IFP Advisors Inc boosted its position in shares of Hinge Health by 140.0% during the second quarter. IFP Advisors Inc now owns 324 shares of the company's stock worth $27,000 after buying an additional 189 shares during the period. Nykredit A S bought a new position in shares of Hinge Health during the second quarter worth about $29,000. CENTRAL TRUST Co bought a new position in shares of Hinge Health during the first quarter worth about $37,000. Finally, State of Wyoming acquired a new stake in Hinge Health in the 1st quarter valued at approximately $110,000.
About Hinge Health
(
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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