Hinge Health (NYSE:HNGE) Rating Increased to Buy at Wall Street Zen

Hinge Health (NYSE:HNGE) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

A number of other equities analysts also recently commented on HNGE. Weiss Ratings reiterated a “sell (d)” rating on shares of Hinge Health in a research note on Wednesday, October 8th. Stifel Nicolaus lifted their price target on Hinge Health from $63.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, September 11th. Robert W. Baird began coverage on Hinge Health in a report on Friday, September 5th. They issued a “neutral” rating and a $56.00 price objective on the stock. Baird R W raised shares of Hinge Health to a “hold” rating in a report on Friday, September 5th. Finally, Piper Sandler restated an “overweight” rating and issued a $71.00 target price (up previously from $70.00) on shares of Hinge Health in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.93.

Hinge Health Price Performance

Shares of Hinge Health stock opened at $47.10 on Friday. The business has a 50-day simple moving average of $47.79 and a 200-day simple moving average of $49.03. Hinge Health has a one year low of $33.42 and a one year high of $62.18.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.18. The firm had revenue of $154.21 million during the quarter, compared to analysts’ expectations of $142.44 million. The company’s quarterly revenue was up 53.3% compared to the same quarter last year.

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

Insider Activity

In other Hinge Health news, CFO James Budge sold 44,589 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $47.47, for a total transaction of $2,116,639.83. Following the transaction, the chief financial officer directly owned 479,878 shares of the company’s stock, valued at approximately $22,779,808.66. This trade represents a 8.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President James Pursley sold 15,000 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $45.57, for a total value of $683,550.00. Following the sale, the president directly owned 789,902 shares of the company’s stock, valued at $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. Insiders have sold 2,612,949 shares of company stock worth $119,252,822 over the last 90 days.

Institutional Trading of Hinge Health

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

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.