Hinge Health (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg Sells 166,666 Shares of Stock

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg sold 166,666 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $45.32, for a total transaction of $7,553,303.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Hinge Health Price Performance

Shares of NYSE:HNGE opened at $46.02 on Wednesday. Hinge Health Inc. has a 1 year low of $30.08 and a 1 year high of $62.18. The stock has a market capitalization of $3.62 billion and a price-to-earnings ratio of -3.59. The company’s 50 day simple moving average is $41.62 and its 200 day simple moving average is $47.34.

Hinge Health (NYSE:HNGE) last issued its earnings results on Tuesday, February 10th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.45. The business had revenue of $170.73 million during the quarter, compared to analyst estimates of $157.31 million. The firm’s revenue was up 45.5% on a year-over-year basis.

Hinge Health announced that its board has authorized a stock repurchase plan on Wednesday, November 12th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 7.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Hinge Health

A number of hedge funds have recently made changes to their positions in the stock. BIT Capital GmbH lifted its stake 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 worth $154,033,000 after acquiring an additional 1,466,577 shares during the period. Vanguard Group Inc. increased its position in Hinge Health by 110.5% during the 4th quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company’s stock valued at $121,027,000 after purchasing an additional 1,367,693 shares during the period. Tiger Global Management LLC raised its holdings in Hinge Health by 227.1% during the 4th quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company’s stock worth $83,877,000 after purchasing an additional 1,253,743 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Hinge Health in the 4th quarter worth approximately $54,469,000. Finally, Millennium Management LLC boosted its stake in shares of Hinge Health by 225.0% in the 4th quarter. Millennium Management LLC now owns 1,479,642 shares of the company’s stock valued at $68,729,000 after purchasing an additional 1,024,317 shares during the last quarter.

Wall Street Analysts Forecast Growth

HNGE has been the subject of several research analyst reports. Stifel Nicolaus set a $59.00 target price on Hinge Health in a research note on Thursday, February 5th. Piper Sandler decreased their price target on shares of Hinge Health from $71.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, January 9th. Royal Bank Of Canada lowered their price objective on shares of Hinge Health from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, February 11th. Barclays dropped their price objective on shares of Hinge Health from $60.00 to $52.00 and set an “overweight” rating for the company in a research note on Wednesday, February 11th. Finally, Wall Street Zen raised shares of Hinge Health from a “hold” rating to a “buy” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $56.73.

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.