Hinge Health (NYSE:HNGE) Major Shareholder Sells 181,499 Shares of Stock

Key Points

• Major shareholder sale: Insight Holdings Group sold 181,499 shares of Hinge Health on July 9 at an average price of $90.20, bringing in about $16.4 million. The filing follows a series of recent insider sales by the same shareholder.
• Stock performance: HNGE shares were up 1.6% in Thursday trading to $89.95, near their 52-week high of $91.07. The stock has surged well above its 50-day and 200-day moving averages.
• Business and analyst backdrop: Hinge Health’s latest quarterly results beat EPS expectations, with revenue up 47.2% year over year, but profitability remains negative. Analysts are broadly constructive, with a consensus Moderate Buy rating and an average target price of $75.80.

Hinge Health Inc. (NYSE:HNGE - Get Free Report) major shareholder Insight Holdings Group, Llc sold 181,499 shares of the business's stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $90.20, for a total transaction of $16,371,209.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Insight Holdings Group, Llc also recently made the following trade(s):

• On Tuesday, July 7th, Insight Holdings Group, Llc sold 244,672 shares of Hinge Health stock. The stock was sold at an average price of $90.23, for a total transaction of $22,076,754.56.
• On Thursday, June 25th, Insight Holdings Group, Llc sold 530,982 shares of Hinge Health stock. The shares were sold at an average price of $71.82, for a total value of $38,135,127.24.
• On Monday, June 29th, Insight Holdings Group, Llc sold 1,466,667 shares of Hinge Health stock. The shares were sold at an average price of $82.83, for a total value of $121,484,027.61.
• On Wednesday, June 24th, Insight Holdings Group, Llc sold 142,311 shares of Hinge Health stock. The stock was sold at an average price of $71.67, for a total value of $10,199,429.37.
• On Wednesday, June 24th, Insight Holdings Group, Llc sold 390,917 shares of Hinge Health stock. The stock was sold at an average price of $71.15, for a total value of $27,813,744.55.
• On Tuesday, June 23rd, Insight Holdings Group, Llc sold 112,477 shares of Hinge Health stock. The shares were sold at an average price of $70.21, for a total value of $7,897,010.17.
• On Monday, June 22nd, Insight Holdings Group, Llc sold 224,399 shares of Hinge Health stock. The stock was sold at an average price of $70.95, for a total value of $15,921,109.05.
• On Tuesday, June 16th, Insight Holdings Group, Llc sold 65,581 shares of Hinge Health stock. The stock was sold at an average price of $70.36, for a total value of $4,614,279.16.

Hinge Health Trading Up 1.6%

HNGE stock traded up $1.45 during mid-day trading on Thursday, reaching $89.95. 1,278,767 shares of the stock traded hands, compared to its average volume of 2,213,831. Hinge Health Inc. has a 52-week low of $30.08 and a 52-week high of $91.07. The stock's fifty day moving average is $64.48 and its 200-day moving average is $49.91. The company has a market cap of $6.96 billion, a P/E ratio of -7.29 and a beta of 1.13.

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, beating analysts' consensus estimates of $0.12 by $0.33. The business had revenue of $182.31 million for the quarter. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The firm's revenue was up 47.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.30 EPS. Equities research analysts expect that Hinge Health Inc. will post 1.33 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of HNGE. Wells Fargo & Company MN raised its position in shares of Hinge Health by 160.0% in the fourth 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. Caitong International Asset Management Co. Ltd acquired a new position in Hinge Health in the 4th quarter valued at $26,000. CENTRAL TRUST Co bought a new position in Hinge Health in the 1st quarter worth $37,000. First Horizon Corp lifted its position in 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 acquiring an additional 531 shares during the last quarter. Finally, High Point Wealth Management LLC bought a new stake in Hinge Health during the fourth quarter valued at about $46,000.

Analyst Ratings Changes

Several brokerages have recently commented on HNGE. Stifel Nicolaus set a $79.00 target price on Hinge Health in a research report on Wednesday, June 10th. Needham & Company LLC increased their price objective on Hinge Health from $63.00 to $76.00 and gave the stock a "buy" rating in a research note on Thursday, June 11th. Piper Sandler restated an "overweight" rating on shares of Hinge Health in a research report on Wednesday, June 10th. Raymond James Financial upped their target price on Hinge Health from $70.00 to $80.00 and gave the company an "outperform" rating in a report on Monday, June 15th. Finally, Royal Bank Of Canada increased their price target on shares of Hinge Health from $65.00 to $75.00 and gave the stock an "outperform" rating in a research report on Thursday, June 11th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Hinge Health currently has a consensus rating of "Moderate Buy" and a consensus target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.