Hinge Health Inc. (NYSE:HNGE) Receives Average Rating of “Moderate Buy” from Brokerages

Hinge Health Inc. (NYSE:HNGE) has earned an average recommendation of “Moderate Buy” from the nineteen brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $67.40.

HNGE has been the topic of a number of research analyst reports. Piper Sandler reaffirmed an “overweight” rating and issued a $95.00 target price on shares of Hinge Health in a report on Wednesday, May 6th. Freedom Capital raised shares of Hinge Health to a “strong-buy” rating in a research report on Thursday, January 22nd. Citigroup reiterated an “outperform” rating on shares of Hinge Health in a research note on Wednesday, May 6th. Barclays increased their price target on shares of Hinge Health from $52.00 to $62.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Needham & Company LLC boosted their price objective on shares of Hinge Health from $59.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th.

Hinge Health Price Performance

Shares of HNGE opened at $54.00 on Thursday. The company has a market capitalization of $4.25 billion and a PE ratio of -4.38. Hinge Health has a one year low of $30.08 and a one year high of $62.18. The company’s fifty day moving average price is $43.77 and its 200 day moving average price is $44.15.

Hinge Health (NYSE:HNGE) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.33. The company had revenue of $182.31 million during the quarter. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The firm’s revenue was up 47.2% on a year-over-year basis. During the same quarter last year, the company earned $1.30 earnings per share. Analysts anticipate that Hinge Health will post 0.78 earnings per share for the current year.

Insider Transactions at Hinge Health

In related news, CFO James Budge sold 5,906 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $54.82, for a total transaction of $323,766.92. Following the transaction, the chief financial officer directly owned 386,293 shares in the company, valued at $21,176,582.26. The trade was a 1.51% 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 15,000 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $42.26, for a total value of $633,900.00. Following the completion of the transaction, the president directly owned 732,104 shares of the company’s stock, valued at approximately $30,938,715.04. This trade represents a 2.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 481,911 shares of company stock valued at $23,412,917 in the last ninety days. 18.92% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of HNGE. Wells Fargo & Company MN increased its holdings in Hinge Health by 160.0% in the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock valued at $25,000 after buying an additional 336 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Hinge Health during the 4th quarter valued at about $26,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Hinge Health in the third quarter valued at about $37,000. CENTRAL TRUST Co acquired a new position in Hinge Health in the first quarter worth about $37,000. Finally, First Horizon Corp raised its position in Hinge Health by 163.9% in the fourth quarter. First Horizon Corp now owns 855 shares of the company’s stock worth $40,000 after purchasing an additional 531 shares in 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.