Hinge Health (NYSE:HNGE) Chairman Gabriel M.I. Mecklenburg Sells 50,000 Shares

Key Points

• Chairman Gabriel M.I. Mecklenburg sold 50,000 shares of Hinge Health on May 6 at an average price of $55.01, for proceeds of about $2.75 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan and cut his stake by 50%.
• Hinge Health’s stock rose 1.6% to $55.89, with trading volume above its average. The company now has a market cap of about $4.4 billion and is trading near its 52-week high of $62.18.
• Quarterly results beat expectations, with EPS of $0.45 versus the $0.12 consensus and revenue up 47.2% year over year to $182.31 million. Analysts remain mostly positive, with a Moderate Buy consensus and an average price target of $67.40.

Hinge Health Inc. (NYSE:HNGE - Get Free Report) Chairman Gabriel M.I. Mecklenburg sold 50,000 shares of the company's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $55.01, for a total transaction of $2,750,500.00. Following the transaction, the chairman owned 50,000 shares in the company, valued at $2,750,500. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 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.
• On Wednesday, April 1st, Gabriel M.I. Mecklenburg sold 50,000 shares of Hinge Health stock. The shares were sold at an average price of $38.46, for a total transaction of $1,923,000.00.
• On Friday, March 6th, Gabriel M.I. Mecklenburg sold 166,666 shares of Hinge Health stock. The stock was sold at an average price of $45.32, for a total transaction of $7,553,303.12.

Hinge Health Trading Up 1.6%

NYSE:HNGE traded up $0.89 during trading hours on Friday, reaching $55.89. The company had a trading volume of 1,861,078 shares, compared to its average volume of 1,251,254. The firm's 50 day moving average price is $42.81 and its 200-day moving average price is $44.00. The firm has a market cap of $4.40 billion and a price-to-earnings ratio of -4.53. Hinge Health Inc. has a 52 week low of $30.08 and a 52 week high of $62.18.

Hinge Health (NYSE:HNGE - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.33. Hinge Health had a negative return on equity of 279.39% and a negative net margin of 78.95%.The firm had revenue of $182.31 million for the quarter. During the same quarter last year, the business earned $1.30 earnings per share. The business's quarterly revenue was up 47.2% on a year-over-year basis. On average, analysts forecast that Hinge Health Inc. will post 0.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hinge Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC lifted its holdings in Hinge Health by 3.3% during the first quarter. Janney Montgomery Scott LLC now owns 9,400 shares of the company's stock valued at $362,000 after purchasing an additional 300 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Hinge Health by 160.0% during the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company's stock valued at $25,000 after purchasing an additional 336 shares during the period. First Horizon Corp lifted 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 valued at $40,000 after buying an additional 531 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Hinge Health in the 4th quarter worth $26,000. Finally, Sandler Capital Management boosted its holdings in Hinge Health by 1.4% in the 3rd quarter. Sandler Capital Management now owns 52,728 shares of the company's stock worth $2,588,000 after buying an additional 728 shares during the period.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Barclays boosted their price target on Hinge Health from $52.00 to $62.00 and gave the company an "overweight" rating in a research note on Wednesday. Evercore restated an "outperform" rating and set a $45.00 target price on shares of Hinge Health in a research report on Wednesday, April 8th. Wells Fargo & Company increased their price target on shares of Hinge Health from $68.00 to $80.00 and gave the stock an "overweight" rating in a research report on Wednesday. Citizens Jmp boosted their price objective on shares of Hinge Health from $65.00 to $80.00 and gave the company a "market outperform" rating in a research report on Wednesday. Finally, KeyCorp set a $55.00 price objective on Hinge Health in a research note on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $67.40.

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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