Hinge Health (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg Sells 150,000 Shares

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel Mecklenburg sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $93.22, for a total value of $13,983,000.00. Following the transaction, the chairman directly owned 150,000 shares in the company, valued at $13,983,000. The trade was a 50.00% decrease in their ownership of the stock. 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.

Gabriel M.I. Mecklenburg also recently made the following trade(s):

• On Friday, September 11th, Gabriel Mecklenburg sold 250,000 shares of Hinge Health stock. The shares were sold at an average price of $88.97, for a total value of $22,242,500.00.
• 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 transaction of $7,087,556.70.

Hinge Health Price Performance

HNGE stock opened at $92.61 on Wednesday. Hinge Health Inc. has a one year low of $30.08 and a one year high of $95.57. The stock has a market cap of $7.47 billion, a price-to-earnings ratio of 72.35 and a beta of 1.38. The company has a fifty day moving average price of $86.33 and a two-hundred day moving average price of $64.89.

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

Analysts Set New Price Targets

HNGE has been the subject of a number of research analyst reports. Raymond James Financial boosted their price objective on Hinge Health from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. Canaccord Genuity Group set a $105.00 price target on Hinge Health in a report on Wednesday, August 5th. Zacks Research downgraded Hinge Health from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Piper Sandler reaffirmed an “overweight” rating on shares of Hinge Health in a report on Wednesday, June 10th. Finally, Royal Bank Of Canada upped their price objective on Hinge Health from $75.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $101.93.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd bought a new stake in shares of Hinge Health in the fourth quarter valued at approximately $26,000. IFP Advisors Inc increased its stake in Hinge Health by 140.0% during the 2nd quarter. IFP Advisors Inc now owns 324 shares of the company’s stock worth $27,000 after acquiring an additional 189 shares during the period. Nykredit A S bought a new position in Hinge Health during the 2nd quarter worth $29,000. CENTRAL TRUST Co acquired a new position in Hinge Health in the 1st quarter valued at $37,000. Finally, State of Wyoming bought a new stake in shares of Hinge Health during the 1st quarter valued at $110,000.

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.