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

Key Points

• Chairman Gabriel M.I. Mecklenburg sold 166,666 shares of Hinge Health on March 6 at an average price of $45.32, a transaction valued at about $7.55 million, disclosed in an SEC filing.
• Hinge Health recently beat quarterly estimates (EPS $0.49 vs. $0.04; revenue $170.73M, up 45.5% YoY) and its board approved a $250 million share buyback; analysts hold a consensus "Moderate Buy" with a $56.73 target.

Hinge Health Inc. (NYSE:HNGE - Get Free Report) Chairman Gabriel M.I. Mecklenburg sold 166,666 shares of the business's stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $45.32, for a total value of $7,553,303.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Hinge Health Stock Performance

Shares of Hinge Health stock traded up $0.03 during midday trading on Tuesday, reaching $46.02. 1,262,855 shares of the company's stock traded hands, compared to its average volume of 1,381,279. The stock has a 50 day moving average of $41.63 and a 200-day moving average of $47.42. Hinge Health Inc. has a 12 month low of $30.08 and a 12 month high of $62.18. The company has a market cap of $3.62 billion and a PE ratio of -3.59.

Hinge Health (NYSE:HNGE - Get Free Report) last released its quarterly earnings results on Tuesday, February 10th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.45. The company had revenue of $170.73 million during the quarter, compared to the consensus estimate of $157.31 million. The company's quarterly revenue was up 45.5% compared to the same quarter last year.

Hinge Health announced that its Board of Directors has approved a stock buyback program on Wednesday, November 12th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 7.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Needham & Company LLC restated a "buy" rating and issued a $59.00 target price on shares of Hinge Health in a research note on Wednesday, February 11th. Piper Sandler decreased their price objective on Hinge Health from $71.00 to $60.00 and set an "overweight" rating for the company in a report on Friday, January 9th. Wells Fargo & Company began coverage on Hinge Health in a research report on Thursday, January 8th. They set an "overweight" rating and a $68.00 price objective for the company. Freedom Capital upgraded shares of Hinge Health to a "strong-buy" rating in a report on Thursday, January 22nd. Finally, Citizens Jmp reaffirmed a "market outperform" rating and issued a $65.00 target price on shares of Hinge Health in a research report on Wednesday, February 11th. One 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 given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $56.73.

Institutional Trading of Hinge Health

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC raised its stake in Hinge Health by 204.9% during the fourth quarter. Hsbc Holdings PLC now owns 30,460 shares of the company's stock valued at $1,411,000 after buying an additional 20,469 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Hinge Health in the fourth quarter worth $26,000. Alpine Woods Capital Investors LLC purchased a new stake in shares of Hinge Health in the fourth quarter worth $1,947,000. Voloridge Investment Management LLC purchased a new stake in shares of Hinge Health in the fourth quarter worth $25,541,000. Finally, Wellington Management Group LLP bought a new position in shares of Hinge Health during the fourth quarter valued at $16,772,000.

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.

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