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 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 completion of the transaction, the chairman directly owned 200,000 shares in the company, valued at $20,626,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a 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 Monday, September 14th, Gabriel Mecklenburg sold 150,000 shares of Hinge Health stock. The shares were 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 Trading Up 0.3%

Shares of NYSE HNGE traded up $0.28 during mid-day trading on Tuesday, reaching $105.10. The company had a trading volume of 879,561 shares, compared to its average volume of 1,595,888. The stock has a market cap of $8.48 billion, a PE ratio of 82.11 and a beta of 1.37. The company has a 50-day moving average price of $91.79 and a two-hundred day moving average price of $71.86. Hinge Health Inc. has a 1-year low of $30.08 and a 1-year high of $107.00.

Hinge Health (NYSE:HNGE) last announced its earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) 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 company had revenue of $212.82 million for the quarter. During the same period last year, the firm earned $0.59 earnings per share. The firm’s revenue for the quarter was up 53.0% on a year-over-year basis. On average, research analysts expect that Hinge Health Inc. will post 1.25 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on HNGE shares. Raymond James Financial lifted their price target on Hinge Health from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, June 15th. Robert W. Baird upped their price objective on shares of Hinge Health from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, September 22nd. Stifel Nicolaus raised their target price on shares of Hinge Health from $96.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, September 8th. KeyCorp lifted their target price on shares of Hinge Health from $90.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Finally, Weiss Ratings downgraded shares of Hinge Health from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Hinge Health has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Institutional Trading of Hinge Health

A number of hedge funds have recently modified their holdings of the business. 11.2 Capital Management LLC acquired a new stake in shares of Hinge Health in the second quarter worth $204,566,531. Wellington Management Group LLP raised its position in Hinge Health by 169.7% during the second quarter. Wellington Management Group LLP now owns 1,205,584 shares of the company’s stock valued at $100,063,000 after buying an additional 758,594 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Hinge Health by 225.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company’s stock valued at $44,852,000 after buying an additional 806,007 shares during the period. Alkeon Capital Management LLC raised its position in Hinge Health by 110.4% during the fourth quarter. Alkeon Capital Management LLC now owns 791,104 shares of the company’s stock valued at $36,747,000 after buying an additional 415,093 shares during the period. Finally, Estuary Capital Management LP purchased a new stake in Hinge Health in the 1st quarter worth about $15,201,000.

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.