Hinge Health (NYSE:HNGE) Chairman Sells $7,087,556.70 in Stock

Key Points

• Hinge Health Chairman Gabriel M.I. Mecklenburg sold 83,334 shares on July 1 at an average price of $85.05, totaling about $7.09 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan and cut his position by 50%.
• The chairman has been actively selling shares in recent weeks, including multiple prior transactions in June and May. Those sales ranged from about $1.5 million to $5.0 million each.
• Hinge Health shares recently traded near $84.15, close to their 52-week high of $86.66. The company also beat quarterly EPS estimates and analyst sentiment remains Moderate Buy with an average price target of $75.80.

Hinge Health Inc. (NYSE:HNGE - Get Free Report) Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the firm's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $85.05, for a total transaction of $7,087,556.70. Following the completion of the sale, the chairman owned 83,334 shares of the company's stock, valued at approximately $7,087,556.70. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 stock was 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 stock was 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 shares were 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 value of $1,501,651.65.

Hinge Health Stock Performance

Hinge Health stock traded down $0.92 during midday trading on Thursday, reaching $84.15. The company's stock had a trading volume of 1,112,679 shares, compared to its average volume of 1,485,072. Hinge Health Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $86.66. The stock's 50 day simple moving average is $59.32 and its 200 day simple moving average is $48.25. The firm has a market capitalization of $6.51 billion, a PE ratio of -6.82 and a beta of 1.10.

Hinge Health (NYSE:HNGE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $182.31 million for the quarter. During the same period last year, the company earned $1.30 earnings per share. The business's revenue for the quarter was up 47.2% compared to the same quarter last year. Equities analysts predict that Hinge Health Inc. will post 1.33 earnings per share for the current year.

Institutional Trading of Hinge Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HNGE. Wells Fargo & Company MN boosted its stake 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 worth $25,000 after purchasing an additional 336 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Hinge Health in the fourth quarter valued at approximately $26,000. CENTRAL TRUST Co acquired a new position in shares of Hinge Health in the first quarter valued at approximately $37,000. First Horizon Corp lifted its stake in shares of Hinge Health by 163.9% during the fourth quarter. First Horizon Corp now owns 855 shares of the company's stock valued at $40,000 after buying an additional 531 shares during the period. Finally, High Point Wealth Management LLC acquired a new stake in Hinge Health during the fourth quarter worth approximately $46,000.

Analysts Set New Price Targets

Several equities research analysts have recently commented on HNGE shares. Robert W. Baird boosted their price target on Hinge Health from $55.00 to $65.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 17th. Canaccord Genuity Group raised their price objective on Hinge Health from $65.00 to $76.00 and gave the company a "buy" rating in a research note on Monday, June 15th. Truist Financial lifted their price objective on Hinge Health from $79.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, June 11th. Citizens Jmp upped their target price on Hinge Health from $65.00 to $80.00 and gave the company a "market outperform" rating in a report on Wednesday, May 6th. Finally, Needham & Company LLC raised their price target on Hinge Health from $63.00 to $76.00 and gave the company a "buy" rating in a research report on Thursday, June 11th. Two 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Hinge Health presently has a consensus rating of "Moderate Buy" and an average price target of $75.80.

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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