Key Points
- Hinge Health CFO James Budge sold 47,720 shares at an average price of $103.13, generating approximately $4.92 million. The sale was conducted under a pre-arranged Rule 10b5-1 plan, leaving him with 296,728 shares.
- Hinge Health reported strong quarterly results, with revenue rising 53% year over year to $212.82 million and adjusted earnings per share of $0.59, exceeding the $0.28 analyst consensus.
- The stock traded near its 12-month high, while analysts maintained a generally positive outlook: the shares had a “Moderate Buy” consensus rating and an average price target of $106.
Hinge Health Inc. (NYSE:HNGE - Get Free Report) CFO James Budge sold 47,720 shares of the company's stock in a transaction dated 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 sale, the chief financial officer owned 296,728 shares in the company, valued at approximately $30,601,558.64. This represents a 13.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 shares were sold at an average price of $89.45, for a total transaction of $4,969,931.45.
Hinge Health Trading Up 0.3%
HNGE stock opened at $105.10 on Wednesday. The firm has a 50 day moving average of $92.29 and a 200-day moving average of $72.32. The firm has a market capitalization of $8.48 billion, a P/E ratio of 81.26 and a beta of 1.37. Hinge Health Inc. has a 12 month low of $30.08 and a 12 month high of $107.00.
Hinge Health (NYSE:HNGE - Get Free Report) last posted its 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 business had revenue of $212.82 million for the quarter. During the same period last year, the company posted $0.59 EPS. The business's revenue was up 53.0% on a year-over-year basis. Sell-side analysts predict that Hinge Health Inc. will post 1.25 EPS for the current year.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Hinge Health from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. 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 research note on Wednesday, August 5th. Stifel Nicolaus boosted their target price on Hinge Health from $96.00 to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, September 8th. Needham & Company LLC boosted their target price on Hinge Health from $97.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, September 30th. Finally, Morgan Stanley upped their target price on Hinge Health from $72.00 to $108.00 and gave the stock an "overweight" rating in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $106.00.
View Our Latest Report on Hinge Health
Institutional Investors Weigh In On Hinge Health
Several hedge funds have recently bought and sold shares of HNGE. 11.2 Capital Management LLC bought a new stake in Hinge Health during the second quarter valued at approximately $204,566,531. Wellington Management Group LLP increased its holdings in shares of Hinge Health by 169.7% in the 2nd quarter. Wellington Management Group LLP now owns 1,205,584 shares of the company's stock worth $100,063,000 after buying an additional 758,594 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Hinge Health by 225.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company's stock worth $44,852,000 after buying an additional 806,007 shares during the last quarter. Alkeon Capital Management LLC raised its position in shares of Hinge Health by 110.4% during the 4th quarter. Alkeon Capital Management LLC now owns 791,104 shares of the company's stock valued at $36,747,000 after buying an additional 415,093 shares in the last quarter. Finally, Estuary Capital Management LP purchased a new stake in shares of Hinge Health during the 1st quarter valued at $15,201,000.
Hinge Health Company Profile
(
Get Free Report)
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.
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