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

Shares of Hinge Health Inc. (NYSE:HNGE) have earned an average recommendation of “Moderate Buy” from the nineteen research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $84.2667.

A number of analysts have recently commented on the company. Robert W. Baird lifted their target price on Hinge Health from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 17th. Citizens Jmp lifted 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 note on Wednesday, May 6th. Needham & Company LLC upped their price objective on Hinge Health from $63.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Royal Bank Of Canada boosted their target price on Hinge Health from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, June 11th. Finally, Weiss Ratings raised shares of Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 6th.

Insider Activity

In related news, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the company’s 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 transaction, the chairman owned 83,334 shares of the company’s stock, valued at $7,087,556.70. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President James Pursley sold 33,000 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $69.31, for a total transaction of $2,287,230.00. Following the transaction, the president directly owned 740,897 shares in the company, valued at approximately $51,351,571.07. This trade represents a 4.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,921,100 shares of company stock valued at $299,222,881 in the last three months. 18.92% of the stock is currently owned by company insiders.

Institutional Trading of Hinge Health

Several institutional investors and hedge funds have recently modified their holdings of HNGE. Vista Investment Partners LLC purchased a new position in Hinge Health during the second quarter worth $3,468,000. Assenagon Asset Management S.A. purchased a new position in shares of Hinge Health during the 2nd quarter worth about $6,867,000. California State Teachers Retirement System boosted its holdings in shares of Hinge Health by 35.2% in the 1st quarter. California State Teachers Retirement System now owns 19,141 shares of the company’s stock valued at $738,000 after purchasing an additional 4,986 shares during the last quarter. Estuary Capital Management LP acquired a new stake in shares of Hinge Health during the 1st quarter worth $15,201,000. Finally, Lazard Asset Management LLC raised its holdings in shares of Hinge Health by 0.6% in the 1st quarter. Lazard Asset Management LLC now owns 63,705 shares of the company’s stock worth $2,456,000 after purchasing an additional 386 shares during the period.

Hinge Health Price Performance

Hinge Health stock opened at $74.21 on Tuesday. The stock’s fifty day moving average is $71.54 and its two-hundred day moving average is $52.74. The stock has a market cap of $5.74 billion, a PE ratio of -6.01 and a beta of 1.13. Hinge Health has a 1-year low of $30.08 and a 1-year high of $91.50.

Hinge Health (NYSE:HNGE) last posted its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.33. The firm had revenue of $182.31 million during the quarter. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.Hinge Health’s revenue for the quarter was up 47.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.30 EPS. On average, research analysts expect that Hinge Health will post 1.37 earnings per share for the current fiscal year.

About Hinge Health

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.