Hinge Health (NYSE:HNGE) Chairman Sells $2,750,500.00 in Stock

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg sold 50,000 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $55.01, for a total value of $2,750,500.00. Following the sale, the chairman directly owned 50,000 shares of the company’s stock, valued at approximately $2,750,500. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 Tuesday, April 21st, Gabriel M.I. Mecklenburg sold 33,333 shares of Hinge Health stock. The stock was sold at an average price of $45.05, for a total value of $1,501,651.65.
• On Wednesday, April 1st, Gabriel M.I. Mecklenburg sold 50,000 shares of Hinge Health stock. The stock was sold at an average price of $38.46, for a total value of $1,923,000.00.
• On Friday, March 6th, Gabriel M.I. Mecklenburg sold 166,666 shares of Hinge Health stock. The shares were sold at an average price of $45.32, for a total transaction of $7,553,303.12.

Hinge Health Price Performance

Shares of HNGE opened at $55.89 on Monday. The company has a 50-day moving average of $42.81 and a two-hundred day moving average of $44.00. Hinge Health Inc. has a one year low of $30.08 and a one year high of $62.18. The stock has a market cap of $4.40 billion and a price-to-earnings ratio of -4.53.

Hinge Health (NYSE:HNGE) last announced its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.33. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 279.39%. The company had revenue of $182.31 million for the quarter. During the same period last year, the firm earned $1.30 earnings per share. Hinge Health’s revenue for the quarter was up 47.2% compared to the same quarter last year. Analysts anticipate that Hinge Health Inc. will post 0.78 earnings per share for the current year.

Wall Street Analyst Weigh In

HNGE has been the topic of a number of recent research reports. Barclays boosted their target price on Hinge Health from $52.00 to $62.00 and gave the company an “overweight” rating in a research note on Wednesday. Weiss Ratings upgraded shares of Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. Raymond James Financial reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Hinge Health in a report on Wednesday. Piper Sandler restated an “overweight” rating and set a $95.00 price objective on shares of Hinge Health in a report on Wednesday. Finally, Needham & Company LLC upped their price target on Hinge Health from $59.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. One investment 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.40.

Hedge Funds Weigh In On Hinge Health

Several large investors have recently made changes to their positions in HNGE. PNC Financial Services Group Inc. increased its stake in shares of Hinge Health by 172.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,898 shares of the company’s stock valued at $382,000 after acquiring an additional 6,268 shares during the last quarter. Swiss National Bank grew its holdings in Hinge Health by 8.1% during the first quarter. Swiss National Bank now owns 34,800 shares of the company’s stock valued at $1,342,000 after purchasing an additional 2,600 shares during the period. Bank of New York Mellon Corp bought a new stake in Hinge Health in the first quarter valued at approximately $292,000. Emerald Mutual Fund Advisers Trust bought a new stake in Hinge Health in the first quarter valued at approximately $7,009,000. Finally, Emerald Advisers LLC acquired a new stake in Hinge Health in the first quarter worth $10,754,000.

About Hinge Health

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.