Hinge Health (NYSE:HNGE) Chairman Sells $24,482,000.00 in Stock

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel Mecklenburg sold 200,000 shares of the stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $122.41, for a total value of $24,482,000.00. Following the sale, the chairman owned 200,000 shares in the company, valued at approximately $24,482,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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, October 12th, Gabriel Mecklenburg sold 200,000 shares of Hinge Health stock. The stock was sold at an average price of $103.13, for a total value of $20,626,000.00.
• 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 Down 0.5%

Shares of HNGE traded down $0.60 on Thursday, hitting $121.12. 743,497 shares of the stock traded hands, compared to its average volume of 1,637,978. Hinge Health Inc. has a 1 year low of $30.08 and a 1 year high of $126.40. The stock’s 50 day moving average is $102.75 and its two-hundred day moving average is $70.04. The firm has a market capitalization of $9.77 billion, a P/E ratio of 61.80, a P/E/G ratio of 1.74 and a beta of 1.19.

Hinge Health (NYSE:HNGE) last released its earnings results on Monday, November 2nd. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.27 by $0.44. The firm had revenue of $234.97 million during the quarter. Hinge Health had a net margin of 21.02% and a return on equity of 66.96%. The firm’s revenue was up 52.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.02) earnings per share. Research analysts forecast that Hinge Health Inc. will post 1.56 EPS for the current year.

Hedge Funds Weigh In On Hinge Health

A number of hedge funds have recently made changes to their positions in the stock. 11.2 Capital Management LLC purchased a new stake in shares of Hinge Health during the 2nd quarter valued at $204,566,531. Assenagon Asset Management S.A. increased its holdings in shares of Hinge Health by 2,141.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,854,922 shares of the company’s stock worth $180,373,000 after buying an additional 1,772,182 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Hinge Health by 169.7% in the 2nd quarter. Wellington Management Group LLP now owns 1,205,584 shares of the company’s stock worth $100,063,000 after buying an additional 758,594 shares during the period. Voya Investment Management LLC raised its position in shares of Hinge Health by 53.8% in the 3rd quarter. Voya Investment Management LLC now owns 1,196,896 shares of the company’s stock worth $116,386,000 after buying an additional 418,728 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Hinge Health by 225.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company’s stock worth $44,852,000 after buying an additional 806,007 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on HNGE shares. Truist Financial lifted their price objective on Hinge Health from $112.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, November 3rd. Wells Fargo & Company increased their target price on Hinge Health from $103.00 to $132.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 3rd. Canaccord Genuity Group raised their price target on Hinge Health from $105.00 to $134.00 and gave the stock a “buy” rating in a research note on Tuesday, November 3rd. Morgan Stanley lifted their price target on Hinge Health from $117.00 to $131.00 and gave the company an “overweight” rating in a report on Tuesday, November 3rd. Finally, Citigroup reaffirmed an “outperform” rating on shares of Hinge Health in a research note on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Hinge Health currently has a consensus rating of “Buy” and an average price target of $118.93.

About Hinge Health

Hinge Health is a digital health company focused on musculoskeletal care, including support for people with back, joint and muscle pain. Its services are designed to help members manage conditions through personalized, technology-enabled care. The company’s offerings include app-based exercise therapy, education and behavioral support, along with access to clinical care teams. Hinge Health also uses wearable motion sensors in some programs to guide and track exercises. Founded in 2015, Hinge Health primarily provides its services through employers and health plans.