Gabriel M.I. Mecklenburg Sells 150,000 Shares of Hinge Health (NYSE:HNGE) Stock

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel Mecklenburg sold 150,000 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $93.22, for a total value of $13,983,000.00. Following the transaction, the chairman owned 150,000 shares in the company, valued at approximately $13,983,000. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 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.
• On Wednesday, July 1st, Gabriel Mecklenburg sold 83,334 shares of Hinge Health stock. The stock was sold at an average price of $85.05, for a total transaction of $7,087,556.70.

Hinge Health Stock Down 2.3%

HNGE stock traded down $2.18 during trading on Tuesday, hitting $92.61. 1,162,856 shares of the company’s stock traded hands, compared to its average volume of 1,801,948. The stock has a fifty day moving average price of $86.33 and a two-hundred day moving average price of $64.89. Hinge Health Inc. has a 52 week low of $30.08 and a 52 week high of $95.57. The stock has a market capitalization of $7.47 billion, a price-to-earnings ratio of 73.48 and a beta of 1.38.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.31. The business had revenue of $212.82 million for the quarter. Hinge Health had a return on equity of 51.60% and a net margin of 15.15%.The company’s revenue for the quarter was up 53.0% on a year-over-year basis. During the same period last year, the business posted $0.59 EPS. As a group, equities research analysts expect that Hinge Health Inc. will post 1.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on HNGE shares. Barclays lifted their target price on Hinge Health from $97.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Wall Street Zen lowered Hinge Health from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. KeyCorp upped their price objective on shares of Hinge Health from $90.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Royal Bank Of Canada increased their target price on shares of Hinge Health from $75.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Finally, Morgan Stanley raised their target price on shares of Hinge Health from $72.00 to $108.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $101.93.

Institutional Trading of Hinge Health

Several institutional investors have recently modified their holdings of HNGE. 11.2 Capital Management LLC acquired a new stake in Hinge Health in the 2nd quarter valued at about $204,566,531. BIT Capital GmbH lifted its stake in Hinge Health by 79.3% during 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. Wellington Management Group LLP grew its position in Hinge Health by 169.7% in the second quarter. Wellington Management Group LLP now owns 1,205,584 shares of the company’s stock worth $100,063,000 after buying an additional 758,594 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Hinge Health by 225.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company’s stock valued at $44,852,000 after purchasing an additional 806,007 shares during the last quarter. Finally, Alkeon Capital Management LLC boosted its holdings in shares of Hinge Health by 110.4% in the fourth quarter. Alkeon Capital Management LLC now owns 791,104 shares of the company’s stock worth $36,747,000 after buying an additional 415,093 shares during the period.

About Hinge Health

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.