Hinge Health (NYSE:HNGE) Stock: Insider Gabriel M.I. Mecklenburg Sells 200,000 Shares

Hinge Health Inc. (NYSE:HNGE) Chairman Gabriel Mecklenburg sold 200,000 shares of Hinge Health stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $122.41, for a total transaction of $24,482,000.00. Following the completion of the transaction, the chairman directly owned 200,000 shares in the company, valued at approximately $24,482,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 Monday, October 12th, Gabriel Mecklenburg sold 200,000 shares of Hinge Health stock. The shares were 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 shares were 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 transaction of $22,242,500.00.

Hinge Health Stock Down 4.8%

Shares of NYSE:HNGE opened at $115.22 on Friday. The firm’s 50 day moving average price is $103.82 and its 200 day moving average price is $70.81. The stock has a market cap of $9.30 billion, a price-to-earnings ratio of 58.78, a price-to-earnings-growth ratio of 1.71 and a beta of 1.19. Hinge Health Inc. has a fifty-two week low of $30.08 and a fifty-two week high of $126.40.

Hinge Health (NYSE:HNGE) last released its earnings results on Monday, November 2nd. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.44. The business had revenue of $234.97 million for the quarter. Hinge Health had a return on equity of 66.96% and a net margin of 21.02%. The company’s revenue for the quarter was up 52.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.02) EPS. On average, equities analysts anticipate that Hinge Health Inc. will post 1.56 EPS for the current year.

Institutional Investors Weigh In On Hinge Health

Several institutional investors have recently bought and sold shares of HNGE. Steward Partners Investment Advisory LLC acquired a new position in Hinge Health in the third quarter valued at approximately $26,000. IFP Advisors Inc lifted its holdings in Hinge Health by 140.0% in the second quarter. IFP Advisors Inc now owns 324 shares of the company’s stock valued at $27,000 after acquiring an additional 189 shares during the period. Global Retirement Partners LLC boosted its position in shares of Hinge Health by 9,400.0% in the 3rd quarter. Global Retirement Partners LLC now owns 285 shares of the company’s stock worth $28,000 after buying an additional 282 shares in the last quarter. Nykredit A S acquired a new position in shares of Hinge Health in the second quarter valued at approximately $29,000. Finally, SBI Securities Co. Ltd. increased its stake in Hinge Health by 39.5% during the third quarter. SBI Securities Co. Ltd. now owns 364 shares of the company’s stock worth $35,000 after acquiring an additional 103 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. KeyCorp raised their target price on shares of Hinge Health from $125.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, October 16th. Bank of America started coverage on shares of Hinge Health in a research report on Tuesday, September 29th. They set a “buy” rating and a $110.00 target price on the stock. Evercore reissued an “outperform” rating and issued a $105.00 target price on shares of Hinge Health in a research note on Wednesday, August 5th. Canaccord Genuity Group upped their price objective on Hinge Health from $105.00 to $134.00 and gave the company a “buy” rating in a research note on Tuesday, November 3rd. Finally, Zacks Research upgraded Hinge Health from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Hinge Health presently has an average rating of “Buy” and a consensus price target of $118.93.

Hinge Health Company Profile

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.