Hinge Health (NYSE:HNGE) Trading 4.5% Higher on Analyst Upgrade

Hinge Health Inc. (NYSE:HNGE) shares traded up 4.5% during trading on Friday after Canaccord Genuity Group raised their price target on the stock from $63.00 to $65.00. Canaccord Genuity Group currently has a buy rating on the stock. Hinge Health traded as high as $65.63 and last traded at $65.8080. 334,119 shares were traded during trading, a decline of 74% from the average session volume of 1,290,404 shares. The stock had previously closed at $62.98.

Several other analysts also recently issued reports on the company. Barclays upped their price target on Hinge Health from $52.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Stifel Nicolaus boosted their target price on Hinge Health from $59.00 to $67.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Citigroup reiterated an “outperform” rating on shares of Hinge Health in a report on Wednesday, May 6th. KeyCorp set a $55.00 price target on shares of Hinge Health in a research report on Wednesday, February 11th. Finally, Zacks Research upgraded shares of Hinge Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.53.

Insider Transactions at Hinge Health

In other Hinge Health news, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of Hinge Health stock in a transaction on Monday, June 1st. The shares were sold at an average price of $60.22, for a total transaction of $5,018,373.48. Following the sale, the chairman owned 83,334 shares in the company, valued at $5,018,373.48. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Antonio Perez sold 45,456 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $55.05, for a total transaction of $2,502,352.80. Following the completion of the transaction, the chief executive officer owned 35,470 shares of the company’s stock, valued at approximately $1,952,623.50. This represents a 56.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 504,600 shares of company stock worth $26,582,068 over the last quarter. 18.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. California State Teachers Retirement System lifted its position in Hinge Health by 35.2% during the 1st quarter. California State Teachers Retirement System now owns 19,141 shares of the company’s stock worth $738,000 after buying an additional 4,986 shares in the last quarter. Estuary Capital Management LP acquired a new stake in Hinge Health in the 1st quarter valued at about $15,201,000. Lazard Asset Management LLC raised its stake in shares of Hinge Health by 0.6% in the first quarter. Lazard Asset Management LLC now owns 63,705 shares of the company’s stock worth $2,456,000 after acquiring an additional 386 shares during the last quarter. Entropy Technologies LP lifted its position in shares of Hinge Health by 28.1% during the first quarter. Entropy Technologies LP now owns 11,749 shares of the company’s stock worth $453,000 after purchasing an additional 2,579 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Hinge Health by 225.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company’s stock worth $44,852,000 after purchasing an additional 806,007 shares in the last quarter.

Hinge Health Price Performance

The firm has a market capitalization of $5.09 billion and a P/E ratio of -5.33. The company’s 50 day moving average price is $47.46 and its 200 day moving average price is $45.18.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.33. The firm 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 revenue for the quarter was up 47.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.30 earnings per share. On average, research analysts anticipate that Hinge Health Inc. will post 1.21 EPS for the current fiscal year.

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.