Hinge Health (NYSE:HNGE) Major Shareholder Insight Holdings Group, Llc Sells 65,581 Shares

Hinge Health Inc. (NYSE:HNGE) major shareholder Insight Holdings Group, Llc sold 65,581 shares of Hinge Health stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $70.36, for a total value of $4,614,279.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Hinge Health Stock Down 1.2%

Shares of HNGE stock opened at $68.59 on Tuesday. The business has a fifty day simple moving average of $54.11 and a 200 day simple moving average of $46.84. The company has a market cap of $5.31 billion and a P/E ratio of -5.56. Hinge Health Inc. has a twelve month low of $30.08 and a twelve month high of $71.44.

Hinge Health (NYSE:HNGE) last released its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.33. The firm had revenue of $182.31 million for the quarter. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.The business’s revenue was up 47.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.30 EPS. As a group, equities research analysts anticipate that Hinge Health Inc. will post 1.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN increased its holdings in Hinge Health by 160.0% in the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock worth $25,000 after purchasing an additional 336 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Hinge Health during the 4th quarter worth approximately $26,000. First Horizon Corp grew its position 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 buying an additional 531 shares during the period. CENTRAL TRUST Co bought a new stake in shares of Hinge Health in the 1st quarter valued at $37,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Hinge Health in the 3rd quarter valued at $49,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on HNGE shares. Raymond James Financial upped their price objective on shares of Hinge Health from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, June 15th. Zacks Research upgraded shares of Hinge Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Piper Sandler reaffirmed an “overweight” rating on shares of Hinge Health in a research note on Wednesday, June 10th. Weiss Ratings upgraded shares of Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. Finally, Wells Fargo & Company increased their price target on Hinge Health from $68.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $75.13.

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.