Key Points
- Chairman Gabriel Mecklenburg sold 250,000 Hinge Health shares at an average price of $88.97, generating $22.24 million and reducing his stake by 50%. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
- Hinge Health shares opened at $94.45 after rising 6.6%, with a market capitalization of approximately $7.62 billion. The stock is near its 12-month high of $95.57.
- The company reported quarterly revenue of $212.82 million, up 53% year over year, and earnings per share of $0.59 versus analysts’ $0.28 estimate. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $101.93.
Hinge Health Inc. (NYSE:HNGE - Get Free Report) Chairman Gabriel Mecklenburg sold 250,000 shares of Hinge Health stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $88.97, for a total transaction of $22,242,500.00. Following the completion of the sale, the chairman owned 250,000 shares in the company, valued at approximately $22,242,500. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Wednesday, July 1st, Gabriel Mecklenburg sold 83,334 shares of Hinge Health stock. The stock was sold at an average price of $85.05, for a total transaction of $7,087,556.70.
Hinge Health Trading Up 6.6%
Shares of Hinge Health stock opened at $94.45 on Tuesday. Hinge Health Inc. has a twelve month low of $30.08 and a twelve month high of $95.57. The firm has a market capitalization of $7.62 billion, a PE ratio of 73.79 and a beta of 1.38. The firm's 50-day moving average price is $86.26 and its 200 day moving average price is $64.53.
Hinge Health (NYSE:HNGE - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.28 by $0.31. Hinge Health had a return on equity of 51.60% and a net margin of 15.15%.The company had revenue of $212.82 million during the quarter. During the same quarter last year, the firm posted $0.59 earnings per share. Hinge Health's quarterly revenue was up 53.0% on a year-over-year basis. On average, sell-side analysts predict that Hinge Health Inc. will post 1.25 EPS for the current fiscal year.
Hedge Funds Weigh In On Hinge Health
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its stake in shares of Hinge Health by 162.7% in the 4th quarter. BNP Paribas Financial Markets now owns 727,672 shares of the company's stock worth $33,800,000 after acquiring an additional 450,643 shares during the last quarter. Royce & Associates LP purchased a new position in shares of Hinge Health during the 4th quarter worth $2,091,000. Vista Investment Partners LLC acquired a new position in shares of Hinge Health during the 2nd quarter valued at about $3,468,000. 11.2 Capital Management LLC acquired a new position in shares of Hinge Health during the 2nd quarter valued at about $204,566,531. Finally, Alkeon Capital Management LLC grew its holdings in shares of Hinge Health by 110.4% in the fourth quarter. Alkeon Capital Management LLC now owns 791,104 shares of the company's stock valued at $36,747,000 after purchasing an additional 415,093 shares during the period.
Analysts Set New Price Targets
Several research analysts recently commented on HNGE shares. Barclays increased their price objective on Hinge Health from $97.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Raymond James Financial upped their target price on shares of Hinge Health from $70.00 to $80.00 and gave the stock an "outperform" rating in a report on Monday, June 15th. Wells Fargo & Company increased their target price on shares of Hinge Health from $90.00 to $103.00 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Canaccord Genuity Group set a $105.00 price target on shares of Hinge Health in a research note on Wednesday, August 5th. Finally, Piper Sandler restated an "overweight" rating on shares of Hinge Health in a research report on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $101.93.
Check Out Our Latest Stock Report on Hinge Health
Hinge Health Company Profile
(
Get Free Report)
Hinge Health, Inc is a digital health company focused on musculoskeletal care. The company provides virtual programs designed to help people manage and improve conditions affecting the back, joints and other areas of the musculoskeletal system, with the goal of supporting conservative care and reducing the need for more invasive treatment.
Its platform combines personalized exercise therapy, digital tools, clinical guidance and behavioral support. Depending on the program, members may use the Hinge Health mobile application, wearable motion sensors and remote care from physical therapists, health coaches and other clinicians.
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