Hinge Health (NYSE:HNGE) CEO Sells $8,088,495.10 in Stock

by · The Cerbat Gem

Hinge Health Inc. (NYSE:HNGE – Get Free Report) CEO Daniel Antonio Perez sold 166,670 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $48.53, for a total transaction of $8,088,495.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Hinge Health Stock Performance

NYSE:HNGE traded down $0.16 during midday trading on Tuesday, reaching $48.34. The stock had a trading volume of 847,880 shares, compared to its average volume of 1,216,410. Hinge Health Inc. has a 1-year low of $33.42 and a 1-year high of $62.18. The firm’s fifty day simple moving average is $48.01 and its 200-day simple moving average is $48.99.

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

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

Institutional Trading of Hinge Health

Several institutional investors have recently made changes to their positions in HNGE. BIT Capital GmbH raised its position in Hinge Health by 144.6% in the third quarter. BIT Capital GmbH now owns 1,849,524 shares of the company’s stock worth $90,775,000 after purchasing an additional 1,093,320 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Hinge Health by 22.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,237,839 shares of the company’s stock worth $60,753,000 after buying an additional 228,234 shares in the last quarter. Bamco Inc. NY acquired a new position in shares of Hinge Health in the 2nd quarter worth approximately $48,943,000. Braidwell LP bought a new position in shares of Hinge Health during the 3rd quarter worth approximately $44,686,000. Finally, JPMorgan Chase & Co. acquired a new stake in Hinge Health in the 2nd quarter valued at $43,840,000.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HNGE. Evercore ISI boosted their target price on shares of Hinge Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Piper Sandler restated an “overweight” rating and issued a $71.00 price target (up from $70.00) on shares of Hinge Health in a research report on Wednesday, November 5th. Wall Street Zen downgraded shares of Hinge Health from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Morgan Stanley upped their price objective on shares of Hinge Health from $57.00 to $67.00 and gave the company an “overweight” rating in a research report on Tuesday, September 23rd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Hinge Health in a research report on Wednesday, October 8th. 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 given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.93.

Read Our Latest Stock Report on HNGE

Hinge Health Company Profile

(Get Free Report)

Our vision is to build a new health system that transforms outcomes, experience and costs by using technology to scale and automate the delivery of care. Hinge Health leverages software, including AI, to largely automate care for joint and muscle health, delivering an outstanding member experience, improved member outcomes, and cost reductions for our clients.

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