Hinge Health (NYSE:HNGE) CEO Sells $7,729,922.70 in Stock

Hinge Health Inc. (NYSE:HNGE) CEO Daniel Antonio Perez sold 166,665 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $46.38, for a total value of $7,729,922.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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%

HNGE stock traded up $1.94 on Tuesday, hitting $48.82. The company had a trading volume of 869,028 shares, compared to its average volume of 1,049,276. Hinge Health Inc. has a 12-month low of $33.42 and a 12-month high of $62.18. The stock has a market cap of $3.84 billion and a price-to-earnings ratio of -3.72. The stock’s 50-day simple moving average is $47.19 and its 200 day simple moving average is $49.92.

Hinge Health (NYSE:HNGE) last announced its earnings results 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. The company’s revenue was up 53.3% on a year-over-year basis.

Hinge Health announced that its board has approved a stock buyback plan on Wednesday, November 12th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to buy up to 7.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Hinge Health

Several institutional investors have recently made changes to their positions in the business. Lisanti Capital Growth LLC bought a new position in shares of Hinge Health during the 2nd quarter valued at approximately $3,089,000. JPMorgan Chase & Co. bought a new stake in Hinge Health in the second quarter worth $43,840,000. Seven Grand Managers LLC purchased a new position in Hinge Health during the second quarter worth $12,938,000. Strategic Blueprint LLC bought a new position in Hinge Health during the second quarter valued at $346,000. Finally, Foresite Capital Management VI LLC purchased a new stake in shares of Hinge Health in the second quarter valued at $6,986,000.

Wall Street Analyst Weigh In

A number of brokerages have commented on HNGE. Morgan Stanley upped their target price on shares of Hinge Health from $57.00 to $67.00 and gave the company an “overweight” rating in a report on Tuesday, September 23rd. Needham & Company LLC reissued a “buy” rating and set a $59.00 price objective on shares of Hinge Health in a research report on Tuesday. Wall Street Zen cut Hinge Health from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. Canaccord Genuity Group boosted their price target on Hinge Health from $61.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hinge Health in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.60.

About Hinge Health

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.