Gabriel M.I. Mecklenburg Sells 250,000 Shares of Hinge Health (NYSE:HNGE) Stock

Key Points

• Chairman Gabriel Mecklenburg sold 250,000 Hinge Health shares at an average price of $88.97, generating $22.24 million. The Rule 10b5-1 transaction reduced his ownership by 50%, leaving him with 250,000 shares.
• Hinge Health shares rose 6.6% to $94.45, near the company’s 52-week high. The stock has a $7.62 billion market capitalization and trades at a price-to-earnings ratio of 73.79.
• The company reported quarterly earnings of $0.59 per share, exceeding estimates of $0.28, while revenue increased 53% year over year to $212.82 million. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $101.93.

Hinge Health Inc. (NYSE:HNGE - Get Free Report) Chairman Gabriel Mecklenburg sold 250,000 shares of the firm's stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $88.97, for a total transaction of $22,242,500.00. Following the completion of the sale, the chairman owned 250,000 shares in the company, valued at approximately $22,242,500. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 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 transaction of $7,087,556.70.

Hinge Health Trading Up 6.6%

NYSE:HNGE traded up $5.86 on Monday, hitting $94.45. The company had a trading volume of 2,451,394 shares, compared to its average volume of 1,569,947. Hinge Health Inc. has a 52 week low of $30.08 and a 52 week high of $95.57. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of 73.79 and a beta of 1.38. The firm has a 50 day moving average of $86.14 and a two-hundred day moving average of $64.14.

Hinge Health (NYSE:HNGE - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) 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 company had revenue of $212.82 million during the quarter. During the same quarter last year, the company posted $0.59 earnings per share. The firm's quarterly revenue was up 53.0% on a year-over-year basis. As a group, equities analysts forecast that Hinge Health Inc. will post 1.25 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Citigroup reissued an "outperform" rating on shares of Hinge Health in a research note on Monday, July 27th. Robert W. Baird raised their price objective on shares of Hinge Health from $55.00 to $65.00 and gave the company a "neutral" rating in a report on Wednesday, June 17th. Wells Fargo & Company lifted their target price on shares of Hinge Health from $90.00 to $103.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. KeyCorp boosted their target price on shares of Hinge Health from $90.00 to $125.00 and gave the stock an "overweight" rating in a report on Monday, July 13th. Finally, Piper Sandler restated an "overweight" rating on shares of Hinge Health in a research report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $101.93.

Hedge Funds Weigh In On Hinge Health

A number of hedge funds have recently made changes to their positions in HNGE. IFP Advisors Inc lifted its stake in shares of Hinge Health by 140.0% in the 2nd quarter. IFP Advisors Inc now owns 324 shares of the company's stock valued at $27,000 after purchasing an additional 189 shares during the period. Janney Montgomery Scott LLC grew its stake in Hinge Health by 3.3% during the first quarter. Janney Montgomery Scott LLC now owns 9,400 shares of the company's stock worth $362,000 after purchasing an additional 300 shares during the period. Nykredit A S bought a new stake in Hinge Health in the second quarter worth approximately $29,000. Lazard Asset Management LLC lifted its stake in Hinge Health by 0.6% in the first quarter. Lazard Asset Management LLC now owns 63,705 shares of the company's stock valued at $2,456,000 after buying an additional 386 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Hinge Health during the 4th quarter worth approximately $26,000.

Hinge Health Company Profile

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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