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

Hinge Health Inc. (NYSE:HNGE) has received a consensus recommendation of “Moderate Buy” from the nineteen analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, sixteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $57.0667.

Several research firms recently commented on HNGE. Piper Sandler dropped their price target on shares of Hinge Health from $71.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, January 9th. Stifel Nicolaus set a $59.00 price objective on shares of Hinge Health in a research report on Thursday, February 5th. Royal Bank Of Canada increased their target price on shares of Hinge Health from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 11th. Barclays dropped their target price on Hinge Health from $60.00 to $52.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 11th. Finally, Citizens Jmp restated a “market outperform” rating and issued a $65.00 price target on shares of Hinge Health in a research note on Wednesday, February 11th.

Hinge Health Trading Up 2.0%

Shares of NYSE:HNGE opened at $44.19 on Wednesday. Hinge Health has a 12-month low of $30.08 and a 12-month high of $62.18. The business has a 50 day moving average of $41.40 and a two-hundred day moving average of $46.92. The company has a market capitalization of $3.48 billion and a PE ratio of -3.45.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.45. The firm had revenue of $170.73 million for the quarter, compared to analyst estimates of $157.31 million. The firm’s revenue for the quarter was up 45.5% on a year-over-year basis.

Insiders Place Their Bets

In related news, Chairman Gabriel M.I. Mecklenburg sold 166,666 shares of Hinge Health stock in a transaction on Friday, March 6th. The shares were sold at an average price of $45.32, for a total value of $7,553,303.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President James Pursley sold 15,000 shares of the business’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $48.40, for a total transaction of $726,000.00. Following the completion of the sale, the president directly owned 769,778 shares of the company’s stock, valued at approximately $37,257,255.20. The trade was a 1.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 525,487 shares of company stock valued at $23,227,028 over the last ninety days.

Hedge Funds Weigh In On Hinge Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its position in shares of 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 purchasing an additional 336 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Hinge Health in the 4th quarter worth about $26,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Hinge Health during the 3rd quarter worth approximately $37,000. First Horizon Corp increased its stake in Hinge Health by 163.9% during the 4th quarter. First Horizon Corp now owns 855 shares of the company’s stock worth $40,000 after buying an additional 531 shares in the last quarter. Finally, High Point Wealth Management LLC acquired a new position in shares of Hinge Health during the fourth quarter valued at approximately $46,000.

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.