Key Points
- Chairman Gabriel M.I. Mecklenburg sold 166,666 shares at an average price of $45.32, netting about $7.55 million in a March 6 SEC-filed transaction.
- Hinge Health beat expectations for the quarter with $0.49 EPS versus $0.04 expected and revenue of $170.73 million (up 45.5% year-over-year, above the $157.31 million estimate).
- The company’s board authorized a $250 million share repurchase program (up to ~7.2% of shares), while analysts hold a consensus "Moderate Buy" rating with an average price target of $56.73.
Hinge Health Inc. (NYSE:HNGE - Get Free Report) Chairman Gabriel M.I. Mecklenburg sold 166,666 shares of the stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $45.32, for a total value of $7,553,303.12. The sale was disclosed in a document filed with the SEC, which is available at this link.
Hinge Health Trading Up 0.1%
HNGE stock opened at $46.02 on Wednesday. The firm has a market cap of $3.62 billion and a PE ratio of -3.59. The stock has a 50-day moving average price of $41.62 and a 200-day moving average price of $47.34. Hinge Health Inc. has a 1-year low of $30.08 and a 1-year high of $62.18.
Hinge Health (NYSE:HNGE - Get Free Report) last announced its earnings results on Tuesday, February 10th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.04 by $0.45. The business had revenue of $170.73 million for the quarter, compared to the consensus estimate of $157.31 million. The business's revenue for the quarter was up 45.5% on a year-over-year basis.
Hinge Health declared that its board has initiated a share repurchase program on Wednesday, November 12th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 7.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.
Analysts Set New Price Targets
HNGE has been the subject of several research reports. Weiss Ratings restated a "sell (d)" rating on shares of Hinge Health in a research note on Thursday, January 22nd. Citizens Jmp reaffirmed a "market outperform" rating and set a $65.00 target price on shares of Hinge Health in a research report on Wednesday, February 11th. KeyCorp set a $55.00 price target on shares of Hinge Health in a research report on Wednesday, February 11th. Stifel Nicolaus set a $59.00 price target on shares of Hinge Health in a research note on Thursday, February 5th. Finally, Piper Sandler lowered their price objective on shares of Hinge Health from $71.00 to $60.00 and set an "overweight" rating on the stock in a report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $56.73.
Check Out Our Latest Stock Analysis on Hinge Health
Institutional Trading of Hinge Health
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Montag A & Associates Inc. purchased a new stake in shares of Hinge Health in the second quarter worth approximately $41,000. SBI Securities Co. Ltd. purchased a new position in shares of Hinge Health during the second quarter valued at approximately $48,000. PNC Financial Services Group Inc. bought a new stake in Hinge Health during the second quarter worth $71,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Hinge Health in the 2nd quarter valued at $966,000. Finally, Greenland Capital Management LP bought a new position in Hinge Health during the 2nd quarter valued at $273,000.
About Hinge Health
(
Get Free Report)
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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