Zacks Research Downgrades Hinge Health (NYSE:HNGE) to Hold

Hinge Health (NYSE:HNGE) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

HNGE has been the topic of several other research reports. Royal Bank Of Canada boosted their target price on Hinge Health from $75.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Citizens Jmp increased their price target on Hinge Health from $96.00 to $107.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 5th. Citigroup reaffirmed an “outperform” rating on shares of Hinge Health in a research note on Monday, July 27th. Wells Fargo & Company upped their target price on Hinge Health from $90.00 to $103.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Finally, Evercore restated an “outperform” rating and set a $105.00 price target on shares of Hinge Health in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $100.57.

Hinge Health Trading Down 3.4%

Hinge Health stock opened at $86.00 on Tuesday. The stock has a market cap of $6.65 billion, a price-to-earnings ratio of 67.19 and a beta of 1.30. The company’s 50-day moving average price is $77.99 and its two-hundred day moving average price is $56.01. Hinge Health has a 52 week low of $30.08 and a 52 week high of $93.13.

Hinge Health (NYSE:HNGE) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.31. The company had revenue of $212.82 million for the quarter. Hinge Health had a net margin of 15.15% and a return on equity of 65.44%. The firm’s quarterly revenue was up 53.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 earnings per share. Research analysts expect that Hinge Health will post 1.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of Hinge Health stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $82.83, for a total value of $121,484,027.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $60.22, for a total transaction of $5,018,373.48. Following the transaction, the chairman owned 83,334 shares in the company, valued at approximately $5,018,373.48. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 3,715,194 shares of company stock worth $287,886,932. Insiders own 18.92% of the company’s stock.

Hedge Funds Weigh In On Hinge Health

A number of institutional investors have recently modified their holdings of HNGE. BIT Capital GmbH raised its stake in Hinge Health by 79.3% during the 4th quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock worth $154,033,000 after buying an additional 1,466,577 shares during the period. Vanguard Group Inc. raised its position in shares of Hinge Health by 110.5% during the fourth quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company’s stock worth $121,027,000 after purchasing an additional 1,367,693 shares during the period. Tiger Global Management LLC lifted its holdings in shares of Hinge Health by 227.1% during the 4th quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company’s stock valued at $83,877,000 after purchasing an additional 1,253,743 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Hinge Health by 225.0% during the 4th quarter. Millennium Management LLC now owns 1,479,642 shares of the company’s stock valued at $68,729,000 after purchasing an additional 1,024,317 shares in the last quarter. Finally, Braidwell LP grew its position in shares of Hinge Health by 43.3% in the 4th quarter. Braidwell LP now owns 1,304,623 shares of the company’s stock valued at $60,600,000 after purchasing an additional 394,147 shares during the period.

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.