Hinge Health (NYSE:HNGE) CFO James Budge Sells 10,491 Shares

Hinge Health Inc. (NYSE:HNGE) CFO James Budge sold 10,491 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $48.41, for a total transaction of $507,869.31. Following the transaction, the chief financial officer directly owned 441,174 shares in the company, valued at approximately $21,357,233.34. The trade was a 2.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

James Budge also recently made the following trade(s):

• On Tuesday, November 25th, James Budge sold 44,589 shares of Hinge Health stock. The stock was sold at an average price of $47.47, for a total transaction of $2,116,639.83.

Hinge Health Stock Performance

Shares of Hinge Health stock traded up $0.12 during mid-day trading on Tuesday, hitting $48.76. The stock had a trading volume of 551,434 shares, compared to its average volume of 1,206,350. The firm has a 50-day moving average of $47.75 and a two-hundred day moving average of $49.22. Hinge Health Inc. has a 12-month low of $33.42 and a 12-month high of $62.18.

Hinge Health (NYSE:HNGE) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.18. The business had revenue of $154.21 million during the quarter, compared to analyst estimates of $142.44 million. The company’s revenue was up 53.3% compared to the same quarter last year.

Hinge Health declared that its board has approved a share buyback plan on Wednesday, November 12th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 7.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Hinge Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in HNGE. Mirae Asset Global Investments Co. Ltd. acquired a new position in Hinge Health during the third quarter worth $37,000. Montag A & Associates Inc. purchased a new stake in shares of Hinge Health in the second quarter valued at $41,000. SBI Securities Co. Ltd. acquired a new stake in shares of Hinge Health during the 2nd quarter worth about $48,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Hinge Health during the third quarter worth $49,000. Finally, Jones Financial Companies Lllp increased its stake in shares of Hinge Health by 348.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,120 shares of the company’s stock valued at $54,000 after acquiring an additional 870 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on HNGE shares. Morgan Stanley raised their price target on Hinge Health from $57.00 to $67.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 23rd. Piper Sandler restated an “overweight” rating and issued a $71.00 price objective (up previously from $70.00) on shares of Hinge Health in a report on Wednesday, November 5th. Robert W. Baird assumed coverage on Hinge Health in a research note on Friday, September 5th. They set a “neutral” rating and a $56.00 target price for the company. Wall Street Zen upgraded Hinge Health from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Hinge Health in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.93.

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.