Hinge Health (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg Sells 200,000 Shares of Company Stock

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel Mecklenburg sold 200,000 shares of the company’s stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $122.41, for a total value of $24,482,000.00. Following the sale, the chairman owned 200,000 shares of the company’s stock, valued at $24,482,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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, October 12th, Gabriel Mecklenburg sold 200,000 shares of Hinge Health stock. The shares were sold at an average price of $103.13, for a total value of $20,626,000.00.
• 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 shares were sold at an average price of $88.97, for a total value of $22,242,500.00.

Hinge Health Price Performance

HNGE opened at $121.12 on Friday. The company has a market capitalization of $9.77 billion, a price-to-earnings ratio of 61.80, a P/E/G ratio of 1.72 and a beta of 1.19. The firm’s fifty day moving average price is $103.33 and its two-hundred day moving average price is $70.44. Hinge Health Inc. has a 1 year low of $30.08 and a 1 year high of $126.40.

Hinge Health (NYSE:HNGE) last posted its earnings results on Monday, November 2nd. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.44. The firm had revenue of $234.97 million during the quarter. Hinge Health had a net margin of 21.02% and a return on equity of 66.96%. The business’s revenue was up 52.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.02) EPS. As a group, equities analysts anticipate that Hinge Health Inc. will post 1.56 EPS for the current year.

Hedge Funds Weigh In On Hinge Health

Institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC increased its holdings in Hinge Health by 9,400.0% during the third quarter. Global Retirement Partners LLC now owns 285 shares of the company’s stock worth $28,000 after buying an additional 282 shares during the last quarter. IFP Advisors Inc boosted its stake in Hinge Health by 140.0% in the second quarter. IFP Advisors Inc now owns 324 shares of the company’s stock valued at $27,000 after acquiring an additional 189 shares during the last quarter. Nykredit A S purchased a new position in Hinge Health in the second quarter valued at about $29,000. SBI Securities Co. Ltd. boosted its stake in Hinge Health by 39.5% in the third quarter. SBI Securities Co. Ltd. now owns 364 shares of the company’s stock valued at $35,000 after acquiring an additional 103 shares during the last quarter. Finally, Allworth Financial LP grew its position in shares of Hinge Health by 402.3% during the 3rd quarter. Allworth Financial LP now owns 437 shares of the company’s stock valued at $42,000 after acquiring an additional 350 shares during the period.

Analyst Upgrades and Downgrades

HNGE has been the subject of several analyst reports. Truist Financial increased their price objective on shares of Hinge Health from $112.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, November 3rd. Weiss Ratings upgraded Hinge Health from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Barclays boosted their target price on Hinge Health from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, October 12th. Stifel Nicolaus upped their target price on Hinge Health from $130.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, November 3rd. Finally, Canaccord Genuity Group increased their price target on Hinge Health from $105.00 to $134.00 and gave the company a “buy” rating in a research report on Tuesday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Hinge Health presently has a consensus rating of “Buy” and an average price target of $118.93.

Hinge Health Company Profile

Hinge Health is a digital health company focused on musculoskeletal care, including support for people with back, joint and muscle pain. Its services are designed to help members manage conditions through personalized, technology-enabled care. The company’s offerings include app-based exercise therapy, education and behavioral support, along with access to clinical care teams. Hinge Health also uses wearable motion sensors in some programs to guide and track exercises. Founded in 2015, Hinge Health primarily provides its services through employers and health plans.