Key Points
- Hinge Health Chairman Gabriel Mecklenburg sold 200,000 shares for about $24.48 million, cutting his holdings by 50% to 200,000 shares. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- The company reported quarterly EPS of $0.71, beating the $0.27 consensus estimate, while revenue reached $234.97 million, up 52.4% year over year.
- Analysts maintain a broadly positive outlook: 17 rate the stock Buy and two Hold, with an average price target of $118.93.
Hinge Health Inc. (NYSE:HNGE - Get Free Report) CFO James Budge sold 35,907 shares of the company's stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $121.62, for a total transaction of $4,367,009.34. Following the sale, the chief financial officer owned 256,207 shares in the company, valued at $31,159,895.34. The trade was a 12.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
James Budge also recently made the following trade(s):
- On Monday, October 12th, James Budge sold 47,720 shares of Hinge Health stock. The stock was sold at an average price of $103.13, for a total transaction of $4,921,363.60.
- On Thursday, September 10th, James Budge sold 55,561 shares of Hinge Health stock. The stock was sold at an average price of $89.45, for a total transaction of $4,969,931.45.
Hinge Health Stock Down 0.5%
NYSE HNGE opened at $121.12 on Friday. Hinge Health Inc. has a 52 week low of $30.08 and a 52 week high of $126.40. The firm has a 50 day moving average of $103.33 and a two-hundred day moving average of $70.44. The stock has a market capitalization of $9.77 billion, a PE ratio of 61.80, a price-to-earnings-growth ratio of 1.72 and a beta of 1.19.
Hinge Health (NYSE:HNGE - Get Free Report) last released its quarterly earnings data on Monday, November 2nd. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.44. The business had revenue of $234.97 million during the quarter. Hinge Health had a net margin of 21.02% and a return on equity of 66.96%. Hinge Health's revenue for the quarter was up 52.4% on a year-over-year basis. During the same period last year, the firm posted ($0.02) earnings per share. On average, equities research analysts expect that Hinge Health Inc. will post 1.56 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Hinge Health
Hedge funds have recently made changes to their positions in the company. First Trust Advisors LP boosted its holdings in shares of Hinge Health by 930.6% in the third quarter. First Trust Advisors LP now owns 308,531 shares of the company's stock valued at $30,002,000 after acquiring an additional 278,593 shares during the period. Voya Investment Management LLC grew its position in shares of Hinge Health by 53.8% during the third quarter. Voya Investment Management LLC now owns 1,196,896 shares of the company's stock worth $116,386,000 after acquiring an additional 418,728 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of Hinge Health by 9,400.0% in the 3rd quarter. Global Retirement Partners LLC now owns 285 shares of the company's stock valued at $28,000 after acquiring an additional 282 shares during the period. HighTower Advisors LLC acquired a new position in shares of Hinge Health in the 3rd quarter valued at $241,000. Finally, Alberta Investment Management Corp acquired a new position in shares of Hinge Health in the 3rd quarter valued at $18,563,000.
Analysts Set New Price Targets
A number of analysts have weighed in on HNGE shares. Royal Bank Of Canada raised their price target on Hinge Health from $110.00 to $135.00 and gave the company an "outperform" rating in a research note on Tuesday, November 3rd. Citigroup reaffirmed an "outperform" rating on shares of Hinge Health in a research report on Monday, July 27th. Evercore reiterated an "outperform" rating and issued a $105.00 price objective on shares of Hinge Health in a report on Wednesday, August 5th. Stifel Nicolaus raised their target price on Hinge Health from $130.00 to $135.00 and gave the stock a "buy" rating in a research report on Tuesday, November 3rd. Finally, Morgan Stanley boosted their target price on Hinge Health from $117.00 to $131.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $118.93.
Check Out Our Latest Analysis on Hinge Health
Hinge Health Company Profile
(
Get Free Report)
Hinge Health is a digital health company focused on musculoskeletal care, including support for people with back, joint and muscle pain. Its services are designed to help members manage conditions through personalized, technology-enabled care. The company's offerings include app-based exercise therapy, education and behavioral support, along with access to clinical care teams. Hinge Health also uses wearable motion sensors in some programs to guide and track exercises. Founded in 2015, Hinge Health primarily provides its services through employers and health plans.
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