Hinge Health (NYSE:HNGE) Stock Price Down 5.6% – What’s Next?

Hinge Health Inc. (NYSE:HNGE)’s stock price was down 5.6% on Wednesday . The stock traded as low as $80.72 and last traded at $79.6520. 172,293 shares were traded during trading, a decline of 88% from the average session volume of 1,492,101 shares. The stock had previously closed at $84.35.

Analyst Ratings Changes

Several research analysts have weighed in on HNGE shares. Stifel Nicolaus set a $79.00 price objective on Hinge Health in a research report on Wednesday, June 10th. Barclays boosted their target price on shares of Hinge Health from $70.00 to $97.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Wall Street Zen lowered shares of Hinge Health from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 6th. Canaccord Genuity Group lifted their price objective on shares of Hinge Health from $76.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Raymond James Financial boosted their price objective on shares of Hinge Health from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, June 15th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.27.

Hinge Health Price Performance

The company has a market capitalization of $5.93 billion, a price-to-earnings ratio of -6.21 and a beta of 1.13. The firm’s fifty day moving average price is $71.14 and its 200-day moving average price is $52.59.

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

Insider Activity

In related news, major shareholder Insight Holdings Group, Llc sold 181,499 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $90.20, for a total value of $16,371,209.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President James Pursley sold 33,000 shares of Hinge Health stock in a transaction that occurred 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 sale, the president owned 740,897 shares in the company, valued at approximately $51,351,571.07. This represents a 4.26% decrease in their ownership of the stock. 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. Over the last three months, insiders have sold 3,921,100 shares of company stock valued at $299,222,881. 18.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hinge Health

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