Hinge Health (NYSE:HNGE) Major Shareholder Insight Holdings Group, Llc Sells 112,477 Shares of Stock

Hinge Health Inc. (NYSE:HNGE) major shareholder Insight Holdings Group, Llc sold 112,477 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $70.21, for a total value of $7,897,010.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Insight Holdings Group, Llc also recently made the following trade(s):

• On Wednesday, June 24th, Insight Holdings Group, Llc sold 390,917 shares of Hinge Health stock. The shares were sold at an average price of $71.15, for a total value of $27,813,744.55.
• On Monday, June 22nd, Insight Holdings Group, Llc sold 224,399 shares of Hinge Health stock. The stock was sold at an average price of $70.95, for a total value of $15,921,109.05.
• On Tuesday, June 16th, Insight Holdings Group, Llc sold 65,581 shares of Hinge Health stock. The stock was sold at an average price of $70.36, for a total value of $4,614,279.16.

Hinge Health Stock Performance

Shares of Hinge Health stock traded down $0.02 on Wednesday, hitting $70.36. 1,913,094 shares of the company traded hands, compared to its average volume of 1,895,251. The stock has a market capitalization of $5.44 billion and a P/E ratio of -5.70. Hinge Health Inc. has a 52 week low of $30.08 and a 52 week high of $72.39. The business has a 50-day simple moving average of $55.45 and a 200 day simple moving average of $47.16.

Hinge Health (NYSE:HNGE) last issued its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.33. The firm had revenue of $182.31 million during the quarter. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. Hinge Health’s revenue was up 47.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.30 EPS. Research analysts expect that Hinge Health Inc. will post 1.33 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on HNGE shares. Truist Financial lifted their target price on Hinge Health from $79.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Stifel Nicolaus set a $79.00 price objective on Hinge Health in a research note on Wednesday, June 10th. Wells Fargo & Company upped their price objective on Hinge Health from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday. Weiss Ratings upgraded Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Finally, Citizens Jmp boosted their price target on shares of Hinge Health from $65.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned 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, the company presently has an average rating of “Moderate Buy” and an average target price of $75.80.

Institutional Investors Weigh In On Hinge Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC lifted its stake in shares of Hinge Health by 3.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,400 shares of the company’s stock valued at $362,000 after purchasing an additional 300 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Hinge Health by 160.0% during the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock valued at $25,000 after purchasing an additional 336 shares during the last quarter. Lazard Asset Management LLC raised its holdings in Hinge Health by 0.6% during the 1st quarter. Lazard Asset Management LLC now owns 63,705 shares of the company’s stock valued at $2,456,000 after buying an additional 386 shares during the period. First Horizon Corp raised its holdings in Hinge Health by 163.9% during the 4th quarter. First Horizon Corp now owns 855 shares of the company’s stock valued at $40,000 after buying an additional 531 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Hinge Health in the fourth quarter worth $26,000.

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.