Hinge Health (NYSE:HNGE) Chairman Sells $22,242,500.00 in Stock

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel Mecklenburg sold 250,000 shares of the stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $88.97, for a total transaction of $22,242,500.00. Following the completion of the sale, the chairman owned 250,000 shares of the company’s stock, valued at approximately $22,242,500. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing 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 Monday, September 14th, Gabriel Mecklenburg sold 150,000 shares of Hinge Health stock. The stock was sold at an average price of $93.22, for a total value of $13,983,000.00.
• On Wednesday, July 1st, Gabriel Mecklenburg sold 83,334 shares of Hinge Health stock. The stock was sold at an average price of $85.05, for a total value of $7,087,556.70.

Hinge Health Trading Up 1.1%

HNGE stock opened at $93.44 on Thursday. The stock has a market cap of $7.54 billion, a P/E ratio of 73.00 and a beta of 1.38. The stock’s fifty day simple moving average is $86.43 and its two-hundred day simple moving average is $65.24. Hinge Health Inc. has a 1-year low of $30.08 and a 1-year high of $95.62.

Hinge Health (NYSE:HNGE) last announced its earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.31. The firm had revenue of $212.82 million during the quarter. Hinge Health had a return on equity of 51.60% and a net margin of 15.15%.The company’s revenue for the quarter was up 53.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 earnings per share. As a group, analysts forecast that Hinge Health Inc. will post 1.25 earnings per share for the current fiscal year.

Institutional Trading of Hinge Health

A number of institutional investors have recently modified their holdings of the business. IFP Advisors Inc grew its stake in Hinge Health by 140.0% in the 2nd quarter. IFP Advisors Inc now owns 324 shares of the company’s stock valued at $27,000 after buying an additional 189 shares in the last quarter. Nykredit A S purchased a new stake in shares of Hinge Health during the second quarter worth $29,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Hinge Health in the fourth quarter worth $26,000. CENTRAL TRUST Co purchased a new position in shares of Hinge Health in the first quarter valued at $37,000. Finally, Comprehensive Financial Management LLC purchased a new position in shares of Hinge Health in the second quarter valued at $212,000.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on HNGE shares. Raymond James Financial increased their target price on shares of Hinge Health from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, June 15th. Wall Street Zen downgraded Hinge Health from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Needham & Company LLC increased their price objective on Hinge Health from $76.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Royal Bank Of Canada raised their target price on Hinge Health from $75.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Finally, Truist Financial boosted their target price on Hinge Health from $85.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $101.93.

Hinge Health Company Profile

Hinge Health, Inc is a digital health company focused on musculoskeletal care. The company provides virtual programs designed to help people manage and improve conditions affecting the back, joints and other areas of the musculoskeletal system, with the goal of supporting conservative care and reducing the need for more invasive treatment.

Its platform combines personalized exercise therapy, digital tools, clinical guidance and behavioral support. Depending on the program, members may use the Hinge Health mobile application, wearable motion sensors and remote care from physical therapists, health coaches and other clinicians.