James Budge Sells 11,006 Shares of Hinge Health (NYSE:HNGE) Stock

Hinge Health Inc. (NYSE:HNGE) CFO James Budge sold 11,006 shares of the firm’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $42.26, for a total value of $465,113.56. Following the completion of the transaction, the chief financial officer owned 401,427 shares of the company’s stock, valued at $16,964,305.02. This trade represents a 2.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Hinge Health Stock Performance

Hinge Health stock opened at $40.19 on Friday. The business’s 50-day simple moving average is $40.71 and its two-hundred day simple moving average is $46.37. The company has a market cap of $3.17 billion and a PE ratio of -3.14. Hinge Health Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $62.18.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.45. The business had revenue of $170.73 million for the quarter, compared to analysts’ expectations of $157.31 million. Hinge Health’s revenue was up 45.5% on a year-over-year basis.

Institutional Trading of Hinge Health

A number of hedge funds have recently bought and sold shares of HNGE. Wells Fargo & Company MN lifted its stake in Hinge Health by 160.0% in the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock worth $25,000 after purchasing an additional 336 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Hinge Health during the fourth quarter worth approximately $26,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Hinge Health during the third quarter worth $37,000. First Horizon Corp grew its holdings in Hinge Health by 163.9% in the 4th quarter. First Horizon Corp now owns 855 shares of the company’s stock valued at $40,000 after buying an additional 531 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Hinge Health during the third quarter worth about $49,000.

Wall Street Analysts Forecast Growth

HNGE has been the subject of several analyst reports. Freedom Capital upgraded shares of Hinge Health to a “strong-buy” rating in a research note on Thursday, January 22nd. KeyCorp set a $55.00 target price on shares of Hinge Health in a research note on Wednesday, February 11th. Stifel Nicolaus set a $59.00 target price on Hinge Health in a research report on Thursday, February 5th. Canaccord Genuity Group reduced their target price on Hinge Health from $65.00 to $53.00 and set a “buy” rating for the company in a research note on Wednesday, February 11th. Finally, Citizens Jmp restated a “market outperform” rating and set a $65.00 price objective on shares of Hinge Health in a research report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Hinge Health has a consensus rating of “Moderate Buy” and a consensus target price of $57.07.

Hinge Health Company Profile

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.