Hinge Health (NYSE:HNGE) Chairman Sells $24,482,000.00 in Stock

Key Points

• Hinge Health Chairman Gabriel Mecklenburg sold 200,000 shares for $24.48 million at an average price of $122.41 under a pre-arranged Rule 10b5-1 trading plan, cutting his ownership by 50% to 200,000 shares.
• The company reported quarterly EPS of $0.71, beating the $0.27 analyst consensus, while revenue rose 52.4% year over year to $234.97 million.
• Analysts maintain a consensus Buy rating, with a $118.93 average price target; recent target increases include $134 from Canaccord and $135 from Needham.

Hinge Health Inc. (NYSE:HNGE - Get Free Report) Chairman Gabriel Mecklenburg sold 200,000 shares of Hinge Health stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $122.41, for a total value of $24,482,000.00. Following the completion of the transaction, the chairman owned 200,000 shares in the company, valued at $24,482,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 Monday, October 12th, Gabriel Mecklenburg sold 200,000 shares of Hinge Health stock. The stock was sold at an average price of $103.13, for a total value of $20,626,000.00.
• On Monday, September 14th, Gabriel Mecklenburg sold 150,000 shares of Hinge Health stock. The stock was sold at an average price of $93.22, for a total value of $13,983,000.00.
• 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.

Hinge Health Stock Down 0.5%

Shares of NYSE HNGE traded down $0.60 during mid-day trading on Thursday, hitting $121.12. 743,497 shares of the company were exchanged, compared to its average volume of 1,637,978. The stock has a 50 day simple moving average of $102.75 and a 200-day simple moving average of $70.04. Hinge Health Inc. has a 1-year low of $30.08 and a 1-year high of $126.40. The firm has a market cap of $9.77 billion, a price-to-earnings ratio of 61.80, a price-to-earnings-growth ratio of 1.74 and a beta of 1.19.

Hinge Health (NYSE:HNGE - Get Free Report) last announced its quarterly earnings data on Monday, November 2nd. The company reported $0.71 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.44. The company had revenue of $234.97 million during the quarter. Hinge Health had a net margin of 21.02% and a return on equity of 66.96%. The firm's quarterly revenue was up 52.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.02) EPS. Analysts anticipate that Hinge Health Inc. will post 1.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hinge Health

Institutional investors and hedge funds have recently made changes to their positions in the business. 11.2 Capital Management LLC purchased a new position in Hinge Health during the 2nd quarter valued at about $204,566,531. Assenagon Asset Management S.A. lifted its holdings in shares of Hinge Health by 2,141.9% in the third quarter. Assenagon Asset Management S.A. now owns 1,854,922 shares of the company's stock valued at $180,373,000 after purchasing an additional 1,772,182 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Hinge Health by 169.7% in the second quarter. Wellington Management Group LLP now owns 1,205,584 shares of the company's stock valued at $100,063,000 after purchasing an additional 758,594 shares in the last quarter. Voya Investment Management LLC grew its position in shares of Hinge Health by 53.8% in the third quarter. Voya Investment Management LLC now owns 1,196,896 shares of the company's stock valued at $116,386,000 after purchasing an additional 418,728 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Hinge Health by 225.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company's stock valued at $44,852,000 after purchasing an additional 806,007 shares during the last quarter.

Analyst Upgrades and Downgrades

HNGE has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Hinge Health from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 6th. Canaccord Genuity Group boosted their target price on Hinge Health from $105.00 to $134.00 and gave the stock a "buy" rating in a research report on Tuesday, November 3rd. Needham & Company LLC increased their target price on Hinge Health from $115.00 to $135.00 and gave the stock a "buy" rating in a research note on Tuesday, November 3rd. Wells Fargo & Company raised their price target on Hinge Health from $103.00 to $132.00 and gave the company an "overweight" rating in a report on Tuesday, November 3rd. Finally, Citigroup restated an "outperform" rating on shares of Hinge Health in a research note on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $118.93.

About Hinge Health

Hinge Health is a digital health company focused on musculoskeletal care, including support for people with back, joint and muscle pain. Its services are designed to help members manage conditions through personalized, technology-enabled care. The company's offerings include app-based exercise therapy, education and behavioral support, along with access to clinical care teams. Hinge Health also uses wearable motion sensors in some programs to guide and track exercises. Founded in 2015, Hinge Health primarily provides its services through employers and health plans.

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