Hinge Health (NYSE:HNGE) President James Pursley Sells 15,000 Shares

Hinge Health Inc. (NYSE:HNGE) President James Pursley sold 15,000 shares of the stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $48.40, for a total value of $726,000.00. Following the completion of the sale, the president owned 769,778 shares of the company’s stock, valued at $37,257,255.20. The trade was a 1.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Friday, November 21st, James Pursley sold 15,000 shares of Hinge Health stock. The shares were sold at an average price of $45.57, for a total value of $683,550.00.

Hinge Health Trading Up 0.2%

NYSE:HNGE opened at $48.76 on Wednesday. The stock has a 50-day moving average price of $47.72 and a 200 day moving average price of $49.29. Hinge Health Inc. has a 12-month low of $33.42 and a 12-month high of $62.18.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.18. The business had revenue of $154.21 million during the quarter, compared to analysts’ expectations of $142.44 million. Hinge Health’s revenue was up 53.3% on a year-over-year basis.

Hinge Health declared that its Board of Directors has authorized a share buyback program on Wednesday, November 12th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to buy up to 7.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Hinge Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 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. purchased a new position in Hinge Health during the second quarter worth $43,840,000. Seven Grand Managers LLC bought a new position in Hinge Health during the second quarter valued at $12,938,000. Strategic Blueprint LLC purchased a new stake in shares of Hinge Health in the second quarter valued at $346,000. Finally, Foresite Capital Management VI LLC bought a new stake in shares of Hinge Health in the 2nd quarter worth about $6,986,000.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Evercore ISI boosted their price target on shares of Hinge Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. Wall Street Zen upgraded Hinge Health from a “hold” rating to a “buy” rating in a research report on Saturday. Robert W. Baird began coverage on Hinge Health in a report on Friday, September 5th. They set a “neutral” rating and a $56.00 price target for the company. Canaccord Genuity Group lifted their price objective on Hinge Health from $61.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Finally, Piper Sandler reiterated an “overweight” rating and set a $71.00 target price (up from $70.00) on shares of Hinge Health in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average 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.