Hinge Health (NYSE:HNGE) Rating Lowered to Hold at Wall Street Zen

Hinge Health (NYSE:HNGE) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other analysts also recently weighed in on the stock. Piper Sandler reissued an “overweight” rating on shares of Hinge Health in a research report on Wednesday, June 10th. Zacks Research upgraded shares of Hinge Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Royal Bank Of Canada boosted their price objective on shares of Hinge Health from $75.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday. Citizens Jmp upped their target price on Hinge Health from $96.00 to $107.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 5th. Finally, KeyCorp raised their target price on Hinge Health from $90.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $98.64.

Hinge Health Stock Performance

Shares of NYSE HNGE opened at $89.04 on Friday. The company has a market cap of $6.89 billion, a PE ratio of 69.56 and a beta of 1.31. The business has a 50-day simple moving average of $76.22 and a two-hundred day simple moving average of $55.01. Hinge Health has a fifty-two week low of $30.08 and a fifty-two week high of $91.50.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.31. The business had revenue of $212.82 million for the quarter. Hinge Health had a return on equity of 65.44% and a net margin of 15.15%.Hinge Health’s revenue was up 53.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 EPS. On average, sell-side analysts predict that Hinge Health will post 1.37 earnings per share for the current fiscal year.

Insider Activity at Hinge Health

In other Hinge Health news, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $82.83, for a total transaction of $121,484,027.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of Hinge Health stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $60.22, for a total transaction of $5,018,373.48. Following the sale, the chairman owned 83,334 shares of the company’s stock, valued at approximately $5,018,373.48. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 3,715,194 shares of company stock worth $287,886,932. 18.92% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. BIT Capital GmbH boosted its holdings in Hinge Health by 79.3% in the fourth quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock valued at $154,033,000 after purchasing an additional 1,466,577 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Hinge Health by 110.5% during the 4th quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company’s stock valued at $121,027,000 after buying an additional 1,367,693 shares during the last quarter. Tiger Global Management LLC lifted its holdings in shares of Hinge Health by 227.1% in the 4th quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company’s stock valued at $83,877,000 after buying an additional 1,253,743 shares during the period. Marshall Wace LLP acquired a new position in shares of Hinge Health in the 4th quarter valued at about $54,469,000. Finally, Millennium Management LLC boosted its stake in shares of Hinge Health by 225.0% in the fourth quarter. Millennium Management LLC now owns 1,479,642 shares of the company’s stock worth $68,729,000 after buying an additional 1,024,317 shares during the last quarter.

Hinge Health Company Profile

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.