Hinge Health Inc. (NYSE:HNGE) Receives Consensus Rating of “Moderate Buy” from Analysts

Hinge Health Inc. (NYSE:HNGE) has earned an average recommendation of “Moderate Buy” from the eighteen research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $101.9286.

Several analysts have issued reports on HNGE shares. KeyCorp raised their price target on shares of Hinge Health from $90.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Canaccord Genuity Group set a $105.00 target price on shares of Hinge Health in a research note on Wednesday, August 5th. Stifel Nicolaus lifted their target price on Hinge Health from $96.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday. Evercore restated an “outperform” rating and set a $105.00 price objective on shares of Hinge Health in a research report on Wednesday, August 5th. Finally, Wall Street Zen cut shares of Hinge Health from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th.

Hinge Health Trading Up 0.5%

HNGE opened at $92.79 on Wednesday. The business has a 50 day moving average of $85.84 and a 200-day moving average of $63.11. The stock has a market capitalization of $7.49 billion, a price-to-earnings ratio of 72.49 and a beta of 1.38. Hinge Health has a 1-year low of $30.08 and a 1-year high of $95.57.

Hinge Health (NYSE:HNGE) last announced its earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.31. The business had revenue of $212.82 million for the quarter. Hinge Health had a net margin of 15.15% and a return on equity of 51.60%. The company’s revenue was up 53.0% compared to the same quarter last year. During the same period last year, the firm posted $0.59 EPS. Equities analysts predict that Hinge Health will post 1.25 EPS for the current year.

Insider Activity at Hinge Health

In related news, Chairman Gabriel Mecklenburg sold 83,334 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $85.05, for a total transaction of $7,087,556.70. Following the sale, the chairman directly owned 83,334 shares in the company, valued at $7,087,556.70. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $82.83, for a total value of $121,484,027.61. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,510,039 shares of company stock worth $276,899,004 over the last three months. 18.92% of the stock is owned by company insiders.

Institutional Trading of Hinge Health

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. IFP Advisors Inc lifted its position in Hinge Health by 140.0% during the 2nd quarter. IFP Advisors Inc now owns 324 shares of the company’s stock worth $27,000 after buying an additional 189 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Hinge Health by 3.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,400 shares of the company’s stock valued at $362,000 after acquiring an additional 300 shares in the last quarter. Wells Fargo & Company MN raised its stake 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 worth $25,000 after acquiring an additional 336 shares during the last quarter. Nykredit A S acquired a new position in shares of Hinge Health during the second quarter worth approximately $29,000. Finally, Lazard Asset Management LLC lifted its position in shares of Hinge Health by 0.6% during the first quarter. Lazard Asset Management LLC now owns 63,705 shares of the company’s stock worth $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.