Hinge Health (NYSE:HNGE) President James Pursley Sells 33,000 Shares

Hinge Health Inc. (NYSE:HNGE) President James Pursley sold 33,000 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $88.05, for a total transaction of $2,905,650.00. Following the completion of the sale, the president directly owned 706,235 shares of the company’s stock, valued at approximately $62,183,991.75. This represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, June 22nd, James Pursley sold 33,000 shares of Hinge Health stock. The shares were sold at an average price of $69.31, for a total transaction of $2,287,230.00.
• On Tuesday, May 26th, James Pursley sold 16,000 shares of Hinge Health stock. The stock was sold at an average price of $53.79, for a total transaction of $860,640.00.

Hinge Health Price Performance

Shares of NYSE:HNGE traded up $1.36 on Monday, reaching $89.78. 2,580,438 shares of the company traded hands, compared to its average volume of 1,532,394. The stock has a market capitalization of $7.25 billion, a PE ratio of 70.15 and a beta of 1.30. The company’s 50 day moving average is $81.40 and its 200-day moving average is $58.45. Hinge Health Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $93.13.

Hinge Health (NYSE:HNGE) last announced its earnings results on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.28 by $0.31. Hinge Health had a return on equity of 51.60% and a net margin of 15.15%.The business had revenue of $212.82 million during the quarter. During the same period in the prior year, the company earned $0.59 earnings per share. The company’s revenue for the quarter was up 53.0% on a year-over-year basis. As a group, analysts expect that Hinge Health Inc. will post 1.25 EPS for the current year.

Hedge Funds Weigh In On Hinge Health

A number of hedge funds and other institutional investors have recently bought and sold shares of HNGE. Marshall Wace LLP bought a new stake in shares of Hinge Health during the 2nd quarter valued at $367,000. Sei Investments Co. bought a new position in shares of Hinge Health in the 2nd quarter worth $869,000. Squarepoint Ops LLC acquired a new stake in shares of Hinge Health during the second quarter worth $19,706,000. Raymond James Financial Inc. acquired a new stake in shares of Hinge Health during the second quarter worth $3,258,000. Finally, Sandia Investment Management LP bought a new stake in Hinge Health in the second quarter valued at about $657,000.

Analyst Upgrades and Downgrades

HNGE has been the subject of a number of recent analyst reports. Zacks Research lowered shares of Hinge Health from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Hinge Health in a report on Monday, August 3rd. Royal Bank Of Canada raised their target price on Hinge Health from $75.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Stifel Nicolaus set a $96.00 price target on Hinge Health in a research report on Wednesday, August 5th. Finally, Citigroup restated an “outperform” rating on shares of Hinge Health in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $100.57.

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.