Hinge Health (NYSE:HNGE) Shares Down 5.6% – Should You Sell?

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Zacks Research raised shares of Hinge Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Stifel Nicolaus set a $79.00 target price on Hinge Health in a research note on Wednesday, June 10th. Weiss Ratings upgraded Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Wall Street Zen cut Hinge Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Finally, Royal Bank Of Canada increased their price objective on Hinge Health from $65.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, June 11th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.27.

Hinge Health Price Performance

The firm’s 50 day simple moving average is $70.19 and its two-hundred day simple moving average is $52.14. The firm has a market capitalization of $6.08 billion, a P/E ratio of -6.35 and a beta of 1.13.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings data 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 firm had revenue of $182.31 million for the quarter. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.The firm’s quarterly revenue was up 47.2% compared to the same quarter last year. During the same period last year, the business posted $1.30 earnings per share. As a group, equities research analysts forecast that Hinge Health Inc. will post 1.37 EPS for the current year.

Insider Buying and Selling

In other Hinge Health news, CEO Daniel Antonio Perez sold 104,544 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $55.09, for a total value of $5,759,328.96. Following the completion of the sale, the chief executive officer owned 35,470 shares in the company, valued at approximately $1,954,042.30. The trade was a 74.67% decrease in their ownership of the stock. The sale 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, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $60.22, for a total value of $5,018,373.48. Following the sale, the chairman directly owned 83,334 shares of the company’s stock, valued at approximately $5,018,373.48. This trade represents a 50.00% decrease in their position. 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. Insiders have sold a total of 3,921,100 shares of company stock worth $299,222,881 in the last ninety days. 18.92% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its position in Hinge Health by 3.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,400 shares of the company’s stock valued at $362,000 after buying an additional 300 shares during the period. Wells Fargo & Company MN grew 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 worth $25,000 after acquiring an additional 336 shares during the last quarter. Lazard Asset Management LLC increased its position 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 valued at $2,456,000 after acquiring an additional 386 shares during the period. First Horizon Corp raised its stake in shares of Hinge Health by 163.9% during the fourth quarter. First Horizon Corp now owns 855 shares of the company’s stock valued at $40,000 after acquiring an additional 531 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Hinge Health during the fourth quarter valued at about $26,000.

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.