Key Points
- Chairman Gabriel M.I. Mecklenburg sold 50,000 Hinge Health shares on April 1 at $38.46 for $1.923M under a pre-arranged Rule 10b5-1 plan, cutting his stake by 50% to 50,000 shares; he also sold 166,666 shares on March 6 for about $7.55M.
- Earnings beat: Hinge Health reported EPS of $0.49 vs. $0.04 expected and revenue of $170.73M (vs. $157.31M est.), with quarterly revenue up 45.5% year-over-year.
- Analysts maintain a "Moderate Buy" consensus with an average price target of $57.07 despite some target trims, and major institutions like Soros Fund, Norges Bank and Vanguard have recently added positions in the stock (market cap ≈ $3.08B).
Hinge Health Inc. (NYSE:HNGE - Get Free Report) Chairman Gabriel M.I. Mecklenburg sold 50,000 shares of the company's stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $38.46, for a total transaction of $1,923,000.00. Following the transaction, the chairman owned 50,000 shares in the company, valued at $1,923,000. This represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 Friday, March 6th, Gabriel M.I. Mecklenburg sold 166,666 shares of Hinge Health stock. The stock was sold at an average price of $45.32, for a total transaction of $7,553,303.12.
Hinge Health Stock Up 1.6%
HNGE opened at $39.12 on Friday. The stock has a market capitalization of $3.08 billion and a price-to-earnings ratio of -3.05. The firm has a 50 day moving average price of $40.26 and a 200-day moving average price of $45.69. Hinge Health Inc. has a twelve month low of $30.08 and a twelve month high of $62.18.
Hinge Health (NYSE:HNGE - Get Free Report) last issued its earnings results on Tuesday, February 10th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.45. The company had revenue of $170.73 million during the quarter, compared to analysts' expectations of $157.31 million. The business's quarterly revenue was up 45.5% compared to the same quarter last year.
Wall Street Analysts Forecast Growth
HNGE has been the subject of several research analyst reports. Canaccord Genuity Group cut their price objective on Hinge Health from $65.00 to $53.00 and set a "buy" rating for the company in a report on Wednesday, February 11th. Piper Sandler dropped their target price on Hinge Health from $71.00 to $60.00 and set an "overweight" rating on the stock in a research report on Friday, January 9th. Weiss Ratings restated a "sell (d)" rating on shares of Hinge Health in a research note on Thursday, January 22nd. KeyCorp set a $55.00 price target on shares of Hinge Health in a research report on Wednesday, February 11th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $59.00 price objective on shares of Hinge Health in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Hinge Health has an average rating of "Moderate Buy" and a consensus price target of $57.07.
Check Out Our Latest Stock Report on Hinge Health
Hedge Funds Weigh In On Hinge Health
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Soros Fund Management LLC purchased a new position in shares of Hinge Health during the 2nd quarter valued at about $3,881,000. Norges Bank purchased a new stake in Hinge Health in the 2nd quarter worth approximately $15,525,000. Vanguard Group Inc. raised its stake in Hinge Health by 22.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,237,839 shares of the company's stock worth $60,753,000 after acquiring an additional 228,234 shares during the period. Redmile Group LLC bought a new stake in Hinge Health during the 2nd quarter worth approximately $15,525,000. Finally, Alkeon Capital Management LLC purchased a new position in Hinge Health during the second quarter valued at approximately $19,459,000.
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
