Key Points
- Chairman Gabriel M.I. Mecklenburg sold 83,334 Hinge Health shares on July 1 at an average price of $85.05, generating about $7.09 million in proceeds. The sale was made under a pre-arranged Rule 10b5-1 plan and cut his direct stake by 50%.
- Hinge Health stock has rallied sharply, trading near its 52-week high of $86.66 after opening at $84.15. The company now has a market cap of about $6.51 billion.
- The company beat earnings expectations in its latest quarterly report, posting EPS of $0.45 versus the $0.12 consensus on revenue of $182.31 million, up 47.2% year over year. Analysts remain generally positive, with a consensus rating of Moderate Buy and an average price target of $75.80.
Hinge Health Inc. (NYSE:HNGE - Get Free Report) Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of Hinge Health stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $85.05, for a total transaction of $7,087,556.70. Following the completion of the transaction, the chairman directly owned 83,334 shares in the company, valued at approximately $7,087,556.70. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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, June 5th, Gabriel M.I. Mecklenburg sold 50,000 shares of Hinge Health stock. The shares were sold at an average price of $65.54, for a total transaction of $3,277,000.00.
- On Monday, June 1st, Gabriel M.I. Mecklenburg sold 83,334 shares of Hinge Health stock. The shares were sold at an average price of $60.22, for a total transaction of $5,018,373.48.
- On Tuesday, May 26th, Gabriel M.I. Mecklenburg sold 83,333 shares of Hinge Health stock. The stock was sold at an average price of $53.79, for a total transaction of $4,482,482.07.
- On Wednesday, May 6th, Gabriel M.I. Mecklenburg sold 50,000 shares of Hinge Health stock. The shares were 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.
Hinge Health Trading Down 1.1%
Hinge Health stock opened at $84.15 on Friday. The firm has a market cap of $6.51 billion, a P/E ratio of -6.82 and a beta of 1.13. Hinge Health Inc. has a 1-year low of $30.08 and a 1-year high of $86.66. The firm has a 50-day moving average of $60.11 and a 200-day moving average of $48.50.
Hinge Health (NYSE:HNGE - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.33. The company had revenue of $182.31 million for the quarter. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.The firm's revenue for the quarter was up 47.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.30 EPS. Research analysts forecast that Hinge Health Inc. will post 1.33 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on HNGE shares. Canaccord Genuity Group upped their target price on Hinge Health from $65.00 to $76.00 and gave the company a "buy" rating in a report on Monday, June 15th. Citizens Jmp boosted their price objective on shares of Hinge Health from $65.00 to $80.00 and gave the company a "market outperform" rating in a research report on Wednesday, May 6th. Citigroup restated an "outperform" rating on shares of Hinge Health in a report on Wednesday, May 6th. KeyCorp boosted their price target on shares of Hinge Health from $75.00 to $90.00 and gave the company an "overweight" rating in a research report on Friday, June 12th. Finally, Raymond James Financial increased their price target on shares of Hinge Health from $70.00 to $80.00 and gave the stock an "outperform" rating in a research note on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Hinge Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.80.
Get Our Latest Stock Report on HNGE
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the business. California State Teachers Retirement System boosted its stake in Hinge Health by 35.2% during the first quarter. California State Teachers Retirement System now owns 19,141 shares of the company's stock worth $738,000 after acquiring an additional 4,986 shares in the last quarter. Estuary Capital Management LP bought a new position in shares of Hinge Health during the first quarter valued at approximately $15,201,000. Lazard Asset Management LLC lifted its holdings in shares of Hinge Health by 0.6% during the first quarter. Lazard Asset Management LLC now owns 63,705 shares of the company's stock valued at $2,456,000 after purchasing an additional 386 shares during the last quarter. Entropy Technologies LP lifted its holdings in shares of Hinge Health by 28.1% during the first quarter. Entropy Technologies LP now owns 11,749 shares of the company's stock valued at $453,000 after purchasing an additional 2,579 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Hinge Health by 225.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company's stock worth $44,852,000 after purchasing an additional 806,007 shares in the last quarter.
About Hinge Health
(
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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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