Insider Selling: Hinge Health (NYSE:HNGE) Chairman Sells $20,626,000.00 in Stock

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel Mecklenburg sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $103.13, for a total value of $20,626,000.00. Following the transaction, the chairman directly owned 200,000 shares in the company, valued at approximately $20,626,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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, 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 Friday, September 11th, Gabriel Mecklenburg sold 250,000 shares of Hinge Health stock. The stock was sold at an average price of $88.97, for a total value of $22,242,500.00.

Hinge Health Stock Up 0.0%

HNGE opened at $105.02 on Friday. The business has a fifty day moving average of $93.30 and a 200 day moving average of $73.26. Hinge Health Inc. has a 52-week low of $30.08 and a 52-week high of $107.00. The stock has a market cap of $8.47 billion, a P/E ratio of 82.05 and a beta of 1.37.

Hinge Health (NYSE:HNGE) last released its earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.31. Hinge Health had a return on equity of 51.60% and a net margin of 15.15%. The business had revenue of $212.82 million for the quarter. During the same quarter in the previous year, the business earned $0.59 EPS. The business’s revenue for the quarter was up 53.0% on a year-over-year basis. Equities analysts anticipate that Hinge Health Inc. will post 1.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HNGE. Citigroup reaffirmed an “outperform” rating on shares of Hinge Health in a research note on Monday, July 27th. Robert W. Baird lifted their price objective on shares of Hinge Health from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, September 22nd. Citizens Jmp boosted their price objective on shares of Hinge Health from $96.00 to $107.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 5th. Barclays upped their target price on shares of Hinge Health from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Truist Financial upped their target price on shares of Hinge Health from $85.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Hinge Health currently has an average rating of “Moderate Buy” and a consensus target price of $106.00.

Institutional Investors Weigh In On Hinge Health

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. lifted its holdings in shares of Hinge Health by 2,141.9% in 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 period. State of Alaska Department of Revenue bought a new position in shares of Hinge Health during the 3rd quarter worth $271,000. Farther Finance Advisors LLC increased its stake in shares of Hinge Health by 60.1% during the third quarter. Farther Finance Advisors LLC now owns 9,066 shares of the company’s stock valued at $882,000 after buying an additional 3,403 shares during the period. Vista Investment Partners LLC increased its stake in shares of Hinge Health by 29.3% during the third quarter. Vista Investment Partners LLC now owns 54,021 shares of the company’s stock valued at $5,252,000 after buying an additional 12,232 shares during the period. Finally, MRA Advisory Group purchased a new position in shares of Hinge Health during the third quarter valued at $755,000.

Hinge Health Company Profile

Hinge Health, Inc is a digital healthcare company focused on musculoskeletal (MSK) conditions, including back and joint pain. The company provides virtual care designed to help members manage pain, improve mobility and avoid or delay more invasive treatments.

Its platform combines a mobile application, motion-sensing technology, personalized exercise therapy, education and support from a care team that may include clinical specialists. Hinge Health offers programs for conditions such as chronic back pain, knee pain and other common MSK issues, with services generally provided through employers, health plans and other healthcare organizations.

Hinge Health was founded in 2015 and is headquartered in San Francisco, California.