Hinge Health (NYSE:HNGE) Stock: Insider James Budge Sells 35,907 Shares

Hinge Health Inc. (NYSE:HNGE) CFO James Budge sold 35,907 shares of the firm’s stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $121.62, for a total value of $4,367,009.34. Following the sale, the chief financial officer owned 256,207 shares of the company’s stock, valued at $31,159,895.34. The trade was a 12.29% decrease in their ownership of the stock. The sale 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 shares were sold at an average price of $103.13, for a total value 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 Performance

Shares of HNGE opened at $115.22 on Friday. The company has a market capitalization of $9.30 billion, a PE ratio of 58.78, a PEG ratio of 1.71 and a beta of 1.19. The company’s 50 day moving average price is $103.82 and its 200 day moving average price is $70.81. Hinge Health Inc. has a 52 week low of $30.08 and a 52 week high of $126.40.

Hinge Health (NYSE:HNGE) last released its earnings results on Monday, November 2nd. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.44. The company 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%. The firm’s quarterly revenue was up 52.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.02) EPS. On average, equities analysts forecast that Hinge Health Inc. will post 1.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on HNGE shares. Bank of America initiated coverage on Hinge Health in a report on Tuesday, September 29th. They set a “buy” rating and a $110.00 price objective for the company. Truist Financial upped their target price on Hinge Health from $112.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, November 3rd. Evercore reaffirmed an “outperform” rating and set a $105.00 price target on shares of Hinge Health in a research note on Wednesday, August 5th. Morgan Stanley lifted their price target on Hinge Health from $117.00 to $131.00 and gave the company an “overweight” rating in a report on Tuesday, November 3rd. Finally, Wall Street Zen raised Hinge Health from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Hinge Health has a consensus rating of “Buy” and a consensus price target of $118.93.

Institutional Investors Weigh In On Hinge Health

A number of large investors have recently bought and sold shares of HNGE. Empowered Funds LLC acquired a new position in Hinge Health in the 3rd quarter valued at $11,578,000. Steward Partners Investment Advisory LLC acquired a new position in Hinge Health during the 3rd quarter worth $26,000. First Trust Advisors LP boosted its holdings in Hinge Health by 930.6% during 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 boosted its holdings in Hinge Health by 53.8% during the third quarter. Voya Investment Management LLC now owns 1,196,896 shares of the company’s stock valued at $116,386,000 after acquiring an additional 418,728 shares during the period. Finally, Global Retirement Partners LLC boosted its holdings in Hinge Health by 9,400.0% during the third 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.

Hinge Health Company Profile

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.