Hinge Health (NYSE:HNGE) Chairman Sells $7,553,303.12 in Stock

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg sold 166,666 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $45.32, for a total transaction of $7,553,303.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Hinge Health Trading Up 0.1%

NYSE:HNGE traded up $0.03 on Tuesday, reaching $46.02. 1,262,855 shares of the stock traded hands, compared to its average volume of 1,381,279. The company has a market capitalization of $3.62 billion and a price-to-earnings ratio of -3.59. Hinge Health Inc. has a 12 month low of $30.08 and a 12 month high of $62.18. The company’s fifty day simple moving average is $41.63 and its 200 day simple moving average is $47.42.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.45. The firm had revenue of $170.73 million for the quarter, compared to analysts’ expectations of $157.31 million. The company’s revenue for the quarter was up 45.5% compared to the same quarter last year.

Hinge Health announced that its Board of Directors has approved a stock repurchase plan on Wednesday, November 12th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 7.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on HNGE shares. Citizens Jmp reaffirmed a “market outperform” rating and set a $65.00 price objective on shares of Hinge Health in a research report on Wednesday, February 11th. Barclays lowered their target price on shares of Hinge Health from $60.00 to $52.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 11th. Evercore set a $50.00 price target on shares of Hinge Health and gave the company an “outperform” rating in a report on Wednesday, February 11th. Wells Fargo & Company began coverage on shares of Hinge Health in a research note on Thursday, January 8th. They issued an “overweight” rating and a $68.00 price target for the company. Finally, Piper Sandler decreased their price objective on shares of Hinge Health from $71.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Hinge Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.73.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Hsbc Holdings PLC grew its stake in shares of Hinge Health by 204.9% during the 4th quarter. Hsbc Holdings PLC now owns 30,460 shares of the company’s stock valued at $1,411,000 after purchasing an additional 20,469 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Hinge Health during the fourth quarter valued at approximately $26,000. Alpine Woods Capital Investors LLC bought a new position in Hinge Health in the fourth quarter worth approximately $1,947,000. Voloridge Investment Management LLC bought a new stake in Hinge Health during the fourth quarter valued at about $25,541,000. Finally, Wellington Management Group LLP purchased a new position in shares of Hinge Health during the 4th quarter valued at about $16,772,000.

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.