Hinge Health (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg Sells 83,334 Shares

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $85.05, for a total transaction of $7,087,556.70. Following the transaction, the chairman owned 83,334 shares of the company’s stock, valued at $7,087,556.70. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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, June 5th, Gabriel M.I. Mecklenburg sold 50,000 shares of Hinge Health stock. The stock was sold at an average price of $65.54, for a total value of $3,277,000.00.
• On Monday, June 1st, Gabriel M.I. Mecklenburg sold 83,334 shares of Hinge Health stock. The shares were sold at an average price of $60.22, for a total value of $5,018,373.48.
• On Tuesday, May 26th, Gabriel M.I. Mecklenburg sold 83,333 shares of Hinge Health stock. The stock was sold at an average price of $53.79, for a total value of $4,482,482.07.
• On Wednesday, May 6th, Gabriel M.I. Mecklenburg sold 50,000 shares of Hinge Health stock. The shares were sold at an average price of $55.01, for a total value of $2,750,500.00.
• On Tuesday, April 21st, Gabriel M.I. Mecklenburg sold 33,333 shares of Hinge Health stock. The shares were sold at an average price of $45.05, for a total value of $1,501,651.65.

Hinge Health Trading Down 1.1%

Shares of NYSE HNGE opened at $84.15 on Friday. Hinge Health Inc. has a 12 month low of $30.08 and a 12 month high of $86.66. The firm has a market capitalization of $6.51 billion, a price-to-earnings ratio of -6.82 and a beta of 1.13. The business has a 50-day moving average of $60.11 and a 200-day moving average of $48.50.

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

Hedge Funds Weigh In On Hinge Health

Large investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN boosted its position in Hinge Health by 160.0% during the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock valued at $25,000 after buying an additional 336 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Hinge Health during the fourth quarter valued at about $26,000. CENTRAL TRUST Co purchased a new position in shares of Hinge Health in the first quarter worth about $37,000. First Horizon Corp lifted its stake in shares of Hinge Health by 163.9% in the 4th quarter. First Horizon Corp now owns 855 shares of the company’s stock valued at $40,000 after acquiring an additional 531 shares during the last quarter. Finally, High Point Wealth Management LLC purchased a new stake in Hinge Health during the 4th quarter valued at about $46,000.

Analysts Set New Price Targets

A number of analysts have recently issued reports on HNGE shares. Royal Bank Of Canada lifted their price objective on shares of Hinge Health from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, June 11th. Wall Street Zen cut Hinge Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 6th. Barclays raised their price target on Hinge Health from $62.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, June 11th. Canaccord Genuity Group upped their price objective on Hinge Health from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, June 15th. Finally, Weiss Ratings upgraded Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $75.80.

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.