Hinge Health (NYSE:HNGE) Stock: Insider Gabriel M.I. Mecklenburg Sells 200,000 Shares

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel Mecklenburg sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $103.13, for a total value of $20,626,000.00. Following the completion of the sale, the chairman owned 200,000 shares of the company’s stock, valued at $20,626,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Gabriel M.I. Mecklenburg also recently made the following trade(s):

• On Monday, September 14th, Gabriel Mecklenburg sold 150,000 shares of Hinge Health stock. The shares were sold at an average price of $93.22, for a total value of $13,983,000.00.
• On Friday, September 11th, Gabriel Mecklenburg sold 250,000 shares of Hinge Health stock. The shares were sold at an average price of $88.97, for a total value of $22,242,500.00.

Hinge Health Stock Performance

Shares of Hinge Health stock opened at $105.23 on Thursday. Hinge Health Inc. has a one year low of $30.08 and a one year high of $107.00. The company has a market cap of $8.49 billion, a price-to-earnings ratio of 82.21 and a beta of 1.37. The business’s 50 day moving average price is $92.79 and its 200 day moving average price is $72.77.

Hinge Health (NYSE:HNGE) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.31. The company had revenue of $212.82 million for the quarter. Hinge Health had a return on equity of 51.60% and a net margin of 15.15%. The business’s quarterly revenue was up 53.0% on a year-over-year basis. During the same period last year, the firm posted $0.59 EPS. On average, analysts predict that Hinge Health Inc. will post 1.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HNGE has been the subject of a number of analyst reports. Royal Bank Of Canada upped their price objective on shares of Hinge Health from $75.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Wall Street Zen downgraded shares of Hinge Health from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Canaccord Genuity Group set a $105.00 target price on shares of Hinge Health in a report on Wednesday, August 5th. Barclays increased their price target on shares of Hinge Health from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Wells Fargo & Company increased their price target on shares of Hinge Health from $90.00 to $103.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $106.00.

Institutional Investors Weigh In On Hinge Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its position in shares of Hinge Health by 60.1% during the third quarter. Farther Finance Advisors LLC now owns 9,066 shares of the company’s stock valued at $882,000 after acquiring an additional 3,403 shares during the last quarter. Vista Investment Partners LLC lifted its holdings in shares of Hinge Health by 29.3% in the 3rd quarter. Vista Investment Partners LLC now owns 54,021 shares of the company’s stock worth $5,252,000 after acquiring an additional 12,232 shares during the last quarter. MRA Advisory Group acquired a new position in shares of Hinge Health in the 3rd quarter worth approximately $755,000. Argent Capital Management LLC acquired a new position in shares of Hinge Health in the 3rd quarter worth approximately $3,376,000. Finally, Tidal Investments LLC purchased a new position in shares of Hinge Health during the 2nd quarter worth approximately $925,000.

About Hinge Health

Hinge Health, Inc is a digital healthcare company focused on musculoskeletal (MSK) conditions, including back and joint pain. The company provides virtual care designed to help members manage pain, improve mobility and avoid or delay more invasive treatments.

Its platform combines a mobile application, motion-sensing technology, personalized exercise therapy, education and support from a care team that may include clinical specialists. Hinge Health offers programs for conditions such as chronic back pain, knee pain and other common MSK issues, with services generally provided through employers, health plans and other healthcare organizations.

Hinge Health was founded in 2015 and is headquartered in San Francisco, California.