Hinge Health (NYSE:HNGE) Downgraded to “Hold” Rating by Wall Street Zen

Hinge Health (NYSE:HNGE) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Several other research analysts have also commented on HNGE. Canaccord Genuity Group increased their price target on shares of Hinge Health from $61.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Robert W. Baird started coverage on shares of Hinge Health in a report on Friday, September 5th. They issued a “neutral” rating and a $56.00 price objective for the company. Evercore ISI raised their target price on Hinge Health from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 8th. Barclays upped their price target on Hinge Health from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Finally, Stifel Nicolaus raised their price objective on Hinge Health from $63.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.93.

Hinge Health Trading Up 0.9%

Shares of HNGE stock opened at $50.08 on Friday. Hinge Health has a fifty-two week low of $33.42 and a fifty-two week high of $62.18. The business has a 50-day moving average price of $48.22.

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

Hinge Health announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, November 12th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to reacquire up to 7.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Hinge Health

In other news, Director Kristina M. Leslie sold 1,250 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $45.68, for a total value of $57,100.00. Following the sale, the director owned 27,750 shares in the company, valued at approximately $1,267,620. This trade represents a 4.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President James Pursley sold 15,000 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $45.57, for a total transaction of $683,550.00. Following the transaction, the president owned 789,902 shares of the company’s stock, valued at approximately $35,995,834.14. The trade was a 1.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 2,446,279 shares of company stock worth $111,164,327.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HNGE. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Hinge Health in the third quarter valued at about $37,000. Montag A & Associates Inc. bought a new position in Hinge Health during the second quarter valued at about $41,000. SBI Securities Co. Ltd. acquired a new position in Hinge Health in the 2nd quarter valued at approximately $48,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Hinge Health in the 3rd quarter worth approximately $49,000. Finally, Jones Financial Companies Lllp grew its holdings in shares of Hinge Health by 348.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,120 shares of the company’s stock worth $54,000 after purchasing an additional 870 shares in the last quarter.

Hinge Health Company Profile

Our vision is to build a new health system that transforms outcomes, experience and costs by using technology to scale and automate the delivery of care. Hinge Health leverages software, including AI, to largely automate care for joint and muscle health, delivering an outstanding member experience, improved member outcomes, and cost reductions for our clients.