Hinge Health (NYSE:HNGE) Major Shareholder Sells $7,897,010.17 in Stock

Hinge Health Inc. (NYSE:HNGE) major shareholder Insight Holdings Group, Llc sold 112,477 shares of Hinge Health stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $70.21, for a total transaction of $7,897,010.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Insight Holdings Group, Llc also recently made the following trade(s):

• On Wednesday, June 24th, Insight Holdings Group, Llc sold 390,917 shares of Hinge Health stock. The shares were sold at an average price of $71.15, for a total transaction of $27,813,744.55.
• On Monday, June 22nd, Insight Holdings Group, Llc sold 224,399 shares of Hinge Health stock. The stock was sold at an average price of $70.95, for a total transaction of $15,921,109.05.
• On Tuesday, June 16th, Insight Holdings Group, Llc sold 65,581 shares of Hinge Health stock. The shares were sold at an average price of $70.36, for a total value of $4,614,279.16.

Hinge Health Price Performance

Shares of HNGE traded down $0.02 during mid-day trading on Wednesday, reaching $70.36. 1,913,094 shares of the company’s stock traded hands, compared to its average volume of 1,895,251. The stock’s 50-day moving average is $55.45 and its two-hundred day moving average is $47.16. Hinge Health Inc. has a 12 month low of $30.08 and a 12 month high of $72.39. The stock has a market cap of $5.44 billion and a P/E ratio of -5.70.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating 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%.Hinge Health’s revenue was up 47.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.30 EPS. Research analysts predict that Hinge Health Inc. will post 1.33 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HNGE. Royal Bank Of Canada upped their price target on shares of Hinge Health from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, June 11th. Robert W. Baird boosted their price objective on shares of Hinge Health from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, June 17th. Citigroup reaffirmed an “outperform” rating on shares of Hinge Health in a research report on Wednesday, May 6th. Canaccord Genuity Group lifted their price target on shares of Hinge Health from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Hinge Health in a report on Wednesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $75.80.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HNGE. Janney Montgomery Scott LLC increased its position in Hinge Health by 3.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,400 shares of the company’s stock valued at $362,000 after purchasing an additional 300 shares during the period. Wells Fargo & Company MN lifted its holdings in Hinge Health by 160.0% during the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock worth $25,000 after buying an additional 336 shares during the period. Lazard Asset Management LLC boosted its position in Hinge Health by 0.6% during the 1st quarter. Lazard Asset Management LLC now owns 63,705 shares of the company’s stock valued at $2,456,000 after acquiring an additional 386 shares in the last quarter. First Horizon Corp increased its holdings in shares of Hinge Health by 163.9% in the 4th quarter. First Horizon Corp now owns 855 shares of the company’s stock valued at $40,000 after acquiring an additional 531 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Hinge Health in the 4th quarter valued at $26,000.

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.