Insider Selling: Hinge Health (NYSE:HNGE) Chairman Sells 83,333 Shares of Stock

Key Points

• Hinge Health Chairman Gabriel M.I. Mecklenburg sold 83,333 shares on May 26 at an average price of $53.79, totaling about $4.48 million. The trade was made under a pre-arranged Rule 10b5-1 plan and cut his position by 50%.
• Mecklenburg has been a frequent seller recently, with additional sales on March 6, April 1, April 21, and May 6. Those transactions ranged from about $1.5 million to $7.55 million.
• Hinge Health reported strong quarterly results and has generally bullish analyst support, with revenue up 47.2% year over year and earnings beating estimates. Analysts currently have a consensus rating of “Moderate Buy” and an average target price of $67.40.

Hinge Health Inc. (NYSE:HNGE - Get Free Report) Chairman Gabriel M.I. Mecklenburg sold 83,333 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $53.79, for a total transaction of $4,482,482.07. Following the transaction, the chairman owned 83,333 shares in the company, valued at approximately $4,482,482.07. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 Wednesday, May 6th, Gabriel M.I. Mecklenburg sold 50,000 shares of Hinge Health stock. The stock was sold at an average price of $55.01, for a total transaction of $2,750,500.00.
• On Tuesday, April 21st, Gabriel M.I. Mecklenburg sold 33,333 shares of Hinge Health stock. The shares were sold at an average price of $45.05, for a total transaction of $1,501,651.65.
• On Wednesday, April 1st, Gabriel M.I. Mecklenburg sold 50,000 shares of Hinge Health stock. The shares were sold at an average price of $38.46, for a total transaction of $1,923,000.00.
• On Friday, March 6th, Gabriel M.I. Mecklenburg sold 166,666 shares of Hinge Health stock. The shares were sold at an average price of $45.32, for a total transaction of $7,553,303.12.

Hinge Health Price Performance

HNGE traded up $0.51 during trading on Wednesday, hitting $53.49. 990,814 shares of the company traded hands, compared to its average volume of 1,735,060. The stock's fifty day moving average is $45.61 and its 200 day moving average is $44.52. Hinge Health Inc. has a one year low of $30.08 and a one year high of $62.18.

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, beating the consensus estimate of $0.12 by $0.33. The company had revenue of $182.31 million during the quarter. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. Hinge Health's quarterly revenue was up 47.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.30 EPS. On average, research analysts expect that Hinge Health Inc. will post 1.21 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on HNGE shares. Needham & Company LLC increased their target price on shares of Hinge Health from $59.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Zacks Research upgraded shares of Hinge Health from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 13th. Royal Bank Of Canada increased their target price on shares of Hinge Health from $55.00 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 6th. Stifel Nicolaus increased their target price on shares of Hinge Health from $59.00 to $67.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. Finally, Barclays increased their target price on shares of Hinge Health from $52.00 to $62.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $67.40.

Institutional Investors Weigh In On Hinge Health

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Hinge Health by 22.6% in the third quarter. Vanguard Group Inc. now owns 1,237,839 shares of the company's stock valued at $60,753,000 after purchasing an additional 228,234 shares in the last quarter. UBS Group AG raised its stake in Hinge Health by 168.8% in the fourth quarter. UBS Group AG now owns 356,701 shares of the company's stock valued at $16,569,000 after purchasing an additional 223,980 shares in the last quarter. Tudor Investment Corp ET AL raised its stake in Hinge Health by 25.9% in the third quarter. Tudor Investment Corp ET AL now owns 376,266 shares of the company's stock valued at $18,467,000 after purchasing an additional 77,464 shares in the last quarter. First Eagle Investment Management LLC purchased a new stake in Hinge Health in the third quarter valued at approximately $4,074,000. Finally, Braidwell LP purchased a new stake in Hinge Health in the third quarter valued at approximately $44,686,000.

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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