Hinge Health (NYSE:HNGE) Chairman Sells $7,087,556.70 in Stock

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $85.05, for a total transaction of $7,087,556.70. Following the completion of the transaction, the chairman owned 83,334 shares in the company, valued at $7,087,556.70. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 Friday, June 5th, Gabriel M.I. Mecklenburg sold 50,000 shares of Hinge Health stock. The stock was sold at an average price of $65.54, for a total transaction of $3,277,000.00.
• On Monday, June 1st, Gabriel M.I. Mecklenburg sold 83,334 shares of Hinge Health stock. The shares were sold at an average price of $60.22, for a total value of $5,018,373.48.
• On Tuesday, May 26th, Gabriel M.I. Mecklenburg sold 83,333 shares of Hinge Health stock. The shares were sold at an average price of $53.79, for a total value of $4,482,482.07.
• On Wednesday, May 6th, Gabriel M.I. Mecklenburg sold 50,000 shares of Hinge Health stock. The stock was sold at an average price of $55.01, for a total value of $2,750,500.00.
• On Tuesday, April 21st, Gabriel M.I. Mecklenburg sold 33,333 shares of Hinge Health stock. The shares were sold at an average price of $45.05, for a total value of $1,501,651.65.

Hinge Health Stock Up 0.1%

Shares of Hinge Health stock opened at $84.15 on Friday. The company has a market cap of $6.51 billion, a PE ratio of -6.82 and a beta of 1.13. The business has a 50 day moving average of $60.90 and a 200 day moving average of $48.75. Hinge Health Inc. has a 52 week low of $30.08 and a 52 week high of $86.66.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.33. The company had revenue of $182.31 million during the quarter. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.The business’s revenue was up 47.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.30 EPS. On average, research analysts anticipate that Hinge Health Inc. will post 1.33 earnings per share for the current year.

Wall Street Analyst Weigh In

HNGE has been the topic of a number of research reports. Citigroup reaffirmed an “outperform” rating on shares of Hinge Health in a research note on Wednesday, May 6th. Canaccord Genuity Group increased their price target on shares of Hinge Health from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Needham & Company LLC lifted their price objective on Hinge Health from $63.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Weiss Ratings upgraded Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. Finally, Citizens Jmp increased their target price on Hinge Health from $65.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $75.80.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its holdings in shares of Hinge Health by 162.7% during the fourth quarter. BNP Paribas Financial Markets now owns 727,672 shares of the company’s stock valued at $33,800,000 after purchasing an additional 450,643 shares during the last quarter. Vanguard Group Inc. grew its stake 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 during the last quarter. UBS Group AG increased its position in Hinge Health by 168.8% during the 4th quarter. UBS Group AG now owns 356,701 shares of the company’s stock valued at $16,569,000 after buying an additional 223,980 shares in the last quarter. Tudor Investment Corp ET AL increased its position in Hinge Health by 25.9% during the 3rd quarter. Tudor Investment Corp ET AL now owns 376,266 shares of the company’s stock valued at $18,467,000 after buying an additional 77,464 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Hinge Health by 755.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,354 shares of the company’s stock valued at $1,271,000 after buying an additional 24,155 shares during the last quarter.

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.