Gabriel M.I. Mecklenburg Sells 150,000 Shares of Hinge Health (NYSE:HNGE) Stock

Key Points

• Hinge Health Chairman Gabriel M.I. Mecklenburg sold 150,000 shares at an average price of $93.22, generating approximately $13.98 million. The Rule 10b5-1 transaction reduced his holdings by 50% to 150,000 shares.
• Hinge Health shares fell 2.3% to $92.61, though they remain near their 52-week high of $95.57. The company reported quarterly revenue growth of 53% year over year and earnings of $0.59 per share, exceeding the $0.28 analyst estimate.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $101.93; recent targets range as high as $115.

Hinge Health Inc. (NYSE:HNGE - Get Free Report) Chairman Gabriel Mecklenburg sold 150,000 shares of the business's stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $93.22, for a total transaction of $13,983,000.00. Following the transaction, the chairman owned 150,000 shares of the company's stock, valued at $13,983,000. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing 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, September 11th, Gabriel Mecklenburg sold 250,000 shares of Hinge Health stock. The stock was sold at an average price of $88.97, for a total value of $22,242,500.00.
• On Wednesday, July 1st, Gabriel Mecklenburg sold 83,334 shares of Hinge Health stock. The stock was sold at an average price of $85.05, for a total value of $7,087,556.70.

Hinge Health Stock Down 2.3%

HNGE traded down $2.18 on Tuesday, reaching $92.61. The company's stock had a trading volume of 1,162,856 shares, compared to its average volume of 1,801,948. The stock has a 50 day moving average of $86.33 and a two-hundred day moving average of $64.89. Hinge Health Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $95.57. The company has a market capitalization of $7.47 billion, a price-to-earnings ratio of 73.48 and a beta of 1.38.

Hinge Health (NYSE:HNGE - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.31. Hinge Health had a net margin of 15.15% and a return on equity of 51.60%. The business had revenue of $212.82 million during the quarter. During the same quarter last year, the company posted $0.59 EPS. Hinge Health's quarterly revenue was up 53.0% on a year-over-year basis. As a group, analysts anticipate that Hinge Health Inc. will post 1.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HNGE. Morgan Stanley boosted their target price on Hinge Health from $72.00 to $108.00 and gave the stock an "overweight" rating in a research report on Monday, July 13th. Stifel Nicolaus lifted their price target on Hinge Health from $96.00 to $115.00 and gave the company a "buy" rating in a research note on Tuesday, September 8th. Wall Street Zen cut shares of Hinge Health from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Piper Sandler restated an "overweight" rating on shares of Hinge Health in a research report on Wednesday, June 10th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Hinge Health in a report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $101.93.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. IFP Advisors Inc increased its position in Hinge Health by 140.0% during the second quarter. IFP Advisors Inc now owns 324 shares of the company's stock worth $27,000 after purchasing an additional 189 shares during the last quarter. Nykredit A S purchased a new stake in shares of Hinge Health during the 2nd quarter valued at $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Hinge Health during the 4th quarter worth $26,000. CENTRAL TRUST Co acquired a new position in Hinge Health in the first quarter valued at $37,000. Finally, Comprehensive Financial Management LLC purchased a new stake in Hinge Health during the second quarter valued at about $212,000.

About Hinge Health

Hinge Health, Inc is a digital health company focused on musculoskeletal care. The company provides virtual programs designed to help people manage and improve conditions affecting the back, joints and other areas of the musculoskeletal system, with the goal of supporting conservative care and reducing the need for more invasive treatment.

Its platform combines personalized exercise therapy, digital tools, clinical guidance and behavioral support. Depending on the program, members may use the Hinge Health mobile application, wearable motion sensors and remote care from physical therapists, health coaches and other clinicians.

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