Hinge Health (NYSE:HNGE) Issues Quarterly Earnings Results

Hinge Health (NYSE:HNGE) released its earnings results on Tuesday. The company reported $0.45 earnings per share for the quarter, FiscalAI reports. The company had revenue of $182.31 million during the quarter.

Hinge Health Stock Performance

Hinge Health stock traded up $0.87 during mid-day trading on Tuesday, reaching $49.76. The company’s stock had a trading volume of 5,854,569 shares, compared to its average volume of 1,175,952. The firm’s fifty day moving average price is $42.03 and its two-hundred day moving average price is $43.94. Hinge Health has a 12-month low of $30.08 and a 12-month high of $62.18. The company has a market capitalization of $3.92 billion and a P/E ratio of -3.88.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Stifel Nicolaus set a $59.00 price target on shares of Hinge Health in a report on Thursday, February 5th. Evercore reissued an “outperform” rating and issued a $45.00 target price on shares of Hinge Health in a research report on Wednesday, April 8th. Citizens Jmp restated a “market outperform” rating and issued a $65.00 target price on shares of Hinge Health in a research note on Wednesday, February 11th. Freedom Capital upgraded Hinge Health to a “strong-buy” rating in a research note on Thursday, January 22nd. Finally, KeyCorp set a $55.00 price objective on Hinge Health in a report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $56.73.

Insider Buying and Selling

In related news, Chairman Gabriel M.I. Mecklenburg sold 33,333 shares of the business’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $45.05, for a total transaction of $1,501,651.65. Following the sale, the chairman directly owned 33,333 shares in the company, valued at approximately $1,501,651.65. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO James Budge sold 11,006 shares of the stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $42.26, for a total value of $465,113.56. Following the sale, the chief financial officer directly owned 401,427 shares in the company, valued at $16,964,305.02. This trade represents a 2.67% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 442,670 shares of company stock worth $18,786,901. Insiders own 18.92% of the company’s stock.

Institutional Investors Weigh In On Hinge Health

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN boosted its position in shares of Hinge Health by 160.0% in the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock valued at $25,000 after acquiring an additional 336 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Hinge Health during the 4th quarter worth approximately $26,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Hinge Health in the 3rd quarter worth approximately $37,000. CENTRAL TRUST Co bought a new position in Hinge Health in the 1st quarter valued at $37,000. Finally, First Horizon Corp grew its position in shares of Hinge Health by 163.9% during the 4th quarter. First Horizon Corp now owns 855 shares of the company’s stock valued at $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.