Hinge Health (NYSE:HNGE) Chairman Sells $22,242,500.00 in Stock

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel Mecklenburg sold 250,000 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $88.97, for a total transaction of $22,242,500.00. Following the completion of the sale, the chairman owned 250,000 shares of the company’s stock, valued at $22,242,500. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 Wednesday, July 1st, Gabriel Mecklenburg sold 83,334 shares of Hinge Health stock. The shares were sold at an average price of $85.05, for a total transaction of $7,087,556.70.

Hinge Health Price Performance

Shares of HNGE stock traded up $5.86 on Monday, reaching $94.45. 2,451,394 shares of the company were exchanged, compared to its average volume of 1,569,947. The company has a 50-day moving average of $86.14 and a 200-day moving average of $64.14. The company has a market cap of $7.62 billion, a price-to-earnings ratio of 73.79 and a beta of 1.38. Hinge Health Inc. has a one year low of $30.08 and a one year high of $95.57.

Hinge Health (NYSE:HNGE) last issued its earnings results on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, beating 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 during the quarter. During the same period in the previous year, the firm earned $0.59 earnings per share. The business’s quarterly revenue was up 53.0% on a year-over-year basis. As a group, sell-side analysts predict that Hinge Health Inc. will post 1.25 EPS for the current year.

Institutional Investors Weigh In On Hinge Health

Institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System lifted its stake in Hinge Health by 18,928.7% during the 2nd quarter. California State Teachers Retirement System now owns 3,642,289 shares of the company’s stock valued at $302,310,000 after acquiring an additional 3,623,148 shares in the last quarter. BIT Capital GmbH raised its holdings in shares of Hinge Health by 79.3% in the fourth quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock valued at $154,033,000 after purchasing an additional 1,466,577 shares during the last quarter. 11.2 Capital Management LLC bought a new position in shares of Hinge Health during the second quarter valued at about $204,566,531. Wellington Management Group LLP lifted its position in shares of 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 purchasing an additional 758,594 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings 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 worth $44,852,000 after purchasing an additional 806,007 shares during the last quarter.

Wall Street Analyst Weigh In

HNGE has been the topic of a number of research reports. KeyCorp upped their target price on Hinge Health from $90.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Wall Street Zen lowered shares of Hinge Health from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Hinge Health in a report on Monday, August 3rd. Canaccord Genuity Group set a $105.00 price objective on shares of Hinge Health in a research note on Wednesday, August 5th. Finally, Morgan Stanley lifted their price objective on shares of Hinge Health from $72.00 to $108.00 and gave the company an “overweight” rating in a report on Monday, July 13th. One investment 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 issued a Sell rating to the stock. According to MarketBeat.com, Hinge Health presently has an average rating of “Moderate Buy” and an average target price of $101.93.

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.