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

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $85.05, for a total value of $7,087,556.70. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 shares were 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 shares were 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 stock was 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 stock was sold at an average price of $45.05, for a total transaction of $1,501,651.65.

Hinge Health Stock Performance

Shares of HNGE opened at $84.15 on Friday. The firm has a market cap of $6.51 billion, a P/E ratio of -6.82 and a beta of 1.13. Hinge Health Inc. has a twelve month low of $30.08 and a twelve month high of $86.66. The firm’s 50 day moving average price is $60.90 and its two-hundred day moving average price is $48.75.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, topping 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 310.62%. The company had revenue of $182.31 million during the quarter. During the same period in the prior year, the company earned $1.30 EPS. The firm’s revenue was up 47.2% on a year-over-year basis. On average, sell-side analysts anticipate that Hinge Health Inc. will post 1.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Stifel Nicolaus set a $79.00 target price on Hinge Health in a report on Wednesday, June 10th. Weiss Ratings upgraded Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. Raymond James Financial upped their price objective on Hinge Health from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, June 15th. Canaccord Genuity Group increased 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, Barclays boosted their target price on Hinge Health from $62.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, June 11th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $75.80.

Hedge Funds Weigh In On Hinge Health

Institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised 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 worth $25,000 after acquiring an additional 336 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Hinge Health in the 4th quarter valued at about $26,000. CENTRAL TRUST Co bought a new position in shares of Hinge Health in the 1st quarter valued at about $37,000. First Horizon Corp increased its stake in shares of Hinge Health by 163.9% during the 4th quarter. First Horizon Corp now owns 855 shares of the company’s stock worth $40,000 after purchasing an additional 531 shares during the last quarter. Finally, High Point Wealth Management LLC acquired a new position in shares of Hinge Health during the 4th quarter worth about $46,000.

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.