Hinge Health (NYSE:HNGE) Upgraded at Zacks Research

Hinge Health (NYSE:HNGE) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other research analysts have also recently issued reports on HNGE. Barclays boosted their price objective 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. KeyCorp set a $55.00 price objective on shares of Hinge Health in a research report on Wednesday, February 11th. Wall Street Zen upgraded shares of Hinge Health from a “hold” rating to a “buy” rating in a research report on Sunday, May 10th. Weiss Ratings raised Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 6th. Finally, Royal Bank Of Canada boosted their target price on Hinge Health from $55.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.40.

Hinge Health Stock Down 0.5%

Shares of Hinge Health stock opened at $53.78 on Wednesday. Hinge Health has a 12 month low of $30.08 and a 12 month high of $62.18. The business has a fifty day simple moving average of $43.95 and a 200 day simple moving average of $44.18. The stock has a market cap of $4.24 billion and a PE ratio of -4.36.

Hinge Health (NYSE:HNGE) last posted its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.33. The company 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 quarterly revenue was up 47.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.30 earnings per share. Analysts expect that Hinge Health will post 1.21 EPS for the current fiscal year.

Insider Activity at Hinge Health

In related news, CEO Daniel Antonio Perez sold 104,544 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $55.09, for a total value of $5,759,328.96. Following the completion of the transaction, the chief executive officer directly owned 35,470 shares of the company’s stock, valued at approximately $1,954,042.30. This represents a 74.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Gabriel M.I. Mecklenburg sold 166,666 shares of the company’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $45.32, for a total transaction of $7,553,303.12. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 481,911 shares of company stock valued at $23,412,917 in the last quarter. 18.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hinge Health

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

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.