Hinge Health Inc. (NYSE:HNGE) Given Average Recommendation of “Moderate Buy” by Brokerages

Hinge Health Inc. (NYSE:HNGE) has been given an average rating of “Moderate Buy” by the nineteen brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, fifteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $59.60.

Several analysts recently issued reports on HNGE shares. Evercore ISI upped their price objective on shares of Hinge Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $59.00 price target on shares of Hinge Health in a research report on Tuesday. Weiss Ratings reissued a “sell (d)” rating on shares of Hinge Health in a research report on Wednesday, October 8th. Wall Street Zen lowered Hinge Health from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. Finally, Barclays cut their price target on Hinge Health from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday.

Insiders Place Their Bets

In other Hinge Health news, Director Kristina M. Leslie sold 1,250 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $45.68, for a total value of $57,100.00. Following the completion of the sale, the director owned 27,750 shares in the company, valued at approximately $1,267,620. This trade represents a 4.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Insight Holdings Group, Llc sold 1,654,440 shares of Hinge Health stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $47.76, for a total value of $79,016,054.40. The SEC filing for this sale provides additional information. Insiders have sold 2,805,105 shares of company stock valued at $128,216,614 in the last quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sandler Capital Management increased its holdings in Hinge Health by 1.4% in the 3rd quarter. Sandler Capital Management now owns 52,728 shares of the company’s stock valued at $2,588,000 after buying an additional 728 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Hinge Health in the third quarter valued at about $37,000. Montag A & Associates Inc. acquired a new position in Hinge Health in the second quarter worth about $41,000. Jones Financial Companies Lllp lifted its stake in Hinge Health by 348.0% during the third quarter. Jones Financial Companies Lllp now owns 1,120 shares of the company’s stock worth $54,000 after purchasing an additional 870 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in Hinge Health during the second quarter valued at approximately $48,000.

Hinge Health Stock Performance

HNGE opened at $48.82 on Friday. The company has a market cap of $3.84 billion and a PE ratio of -3.72. The stock has a 50-day moving average of $47.14 and a 200-day moving average of $49.97. Hinge Health has a 52-week low of $33.42 and a 52-week high of $62.18.

Hinge Health (NYSE:HNGE) last posted its earnings results on Tuesday, November 4th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.18. The company had revenue of $154.21 million during the quarter, compared to analyst estimates of $142.44 million. The business’s quarterly revenue was up 53.3% on a year-over-year basis.

Hinge Health declared that its board has initiated a stock repurchase program on Wednesday, November 12th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 7.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

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.