Hinge Health (NYSE:HNGE) Major Shareholder Sells 65,581 Shares of Stock

Hinge Health Inc. (NYSE:HNGE) major shareholder Insight Holdings Group, Llc sold 65,581 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $70.36, for a total transaction of $4,614,279.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Hinge Health Trading Down 0.1%

Shares of NYSE HNGE opened at $69.36 on Monday. The company has a market cap of $5.37 billion and a price-to-earnings ratio of -5.62. Hinge Health Inc. has a 12 month low of $30.08 and a 12 month high of $70.72. The stock has a 50-day moving average price of $53.46 and a two-hundred day moving average price of $46.69.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.33. The company had revenue of $182.31 million for the quarter. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The company’s revenue for the quarter was up 47.2% compared to the same quarter last year. During the same period last year, the firm posted $1.30 earnings per share. On average, sell-side analysts predict that Hinge Health Inc. will post 1.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

HNGE has been the subject of several research reports. Evercore reiterated an “outperform” rating and issued a $45.00 target price on shares of Hinge Health in a research report on Wednesday, April 8th. Wall Street Zen lowered shares of Hinge Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Truist Financial lifted their target price on shares of Hinge Health from $79.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Stifel Nicolaus set a $79.00 target price on shares of Hinge Health in a report on Wednesday, June 10th. Finally, Citizens Jmp raised their price target on shares of Hinge Health from $65.00 to $80.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $75.13.

Hedge Funds Weigh In On Hinge Health

A number of hedge funds and other institutional investors have recently made changes to their positions in HNGE. BIT Capital GmbH raised its holdings in Hinge Health by 79.3% during the 4th quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock worth $154,033,000 after purchasing an additional 1,466,577 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Hinge Health by 110.5% in the 4th quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company’s stock valued at $121,027,000 after purchasing an additional 1,367,693 shares during the last quarter. Tiger Global Management LLC increased its position in shares of Hinge Health by 227.1% during the fourth quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company’s stock worth $83,877,000 after buying an additional 1,253,743 shares during the period. Marshall Wace LLP acquired a new stake in shares of Hinge Health during the fourth quarter worth $54,469,000. Finally, Millennium Management LLC raised its stake in Hinge Health by 225.0% during the fourth quarter. Millennium Management LLC now owns 1,479,642 shares of the company’s stock worth $68,729,000 after buying an additional 1,024,317 shares during the last quarter.

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.