Hinge Health (NYSE:HNGE) Sets New 1-Year Low – Here’s Why

Hinge Health Inc. (NYSE:HNGE) reached a new 52-week low on Tuesday . The company traded as low as $33.03 and last traded at $33.2950, with a volume of 407526 shares trading hands. The stock had previously closed at $35.23.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wells Fargo & Company assumed coverage on Hinge Health in a report on Thursday, January 8th. They set an “overweight” rating and a $68.00 price objective on the stock. Wall Street Zen lowered Hinge Health from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. Freedom Capital upgraded Hinge Health to a “strong-buy” rating in a research note on Thursday, January 22nd. Piper Sandler cut their price objective on Hinge Health from $71.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, January 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $59.00 target price on shares of Hinge Health in a report on Tuesday, January 6th. Two research 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 stock. Based on data from MarketBeat.com, Hinge Health has a consensus rating of “Moderate Buy” and a consensus price target of $60.06.

Hinge Health Stock Down 6.1%

The company has a market cap of $2.61 billion and a P/E ratio of -2.52. The firm has a fifty day moving average price of $46.06 and a 200 day moving average price of $49.53.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.18. The company had revenue of $154.21 million for the quarter, compared to the consensus estimate of $142.44 million. Hinge Health’s quarterly revenue was up 53.3% on a year-over-year basis.

Hinge Health announced that its board has approved a stock buyback plan on Wednesday, November 12th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 7.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Kristina M. Leslie sold 1,250 shares of Hinge Health stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $45.68, for a total value of $57,100.00. Following the completion of the sale, the director directly owned 27,750 shares in the company, valued at $1,267,620. This trade represents a 4.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James Budge sold 10,491 shares of the company’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $48.41, for a total transaction of $507,869.31. Following the transaction, the chief financial officer owned 441,174 shares in the company, valued at approximately $21,357,233.34. The trade was a 2.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,805,105 shares of company stock valued at $128,216,614 over the last quarter.

Hedge Funds Weigh In On Hinge Health

Several large investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Hinge Health during the 3rd quarter valued at $37,000. Montag A & Associates Inc. acquired a new stake in shares of Hinge Health during the second quarter worth $41,000. First Horizon Corp increased its holdings in Hinge Health by 163.9% in the fourth quarter. First Horizon Corp now owns 855 shares of the company’s stock valued at $40,000 after purchasing an additional 531 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Hinge Health in the second quarter valued at about $48,000. Finally, Aster Capital Management DIFC Ltd bought a new position in Hinge Health during the third quarter worth about $49,000.

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.