Hinge Health (NYSE:HNGE) Stock Rating Lowered by Wall Street Zen

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

Several other equities research analysts have also commented on the stock. Baird R W upgraded shares of Hinge Health to a “hold” rating in a research note on Friday, September 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Hinge Health in a research report on Wednesday, October 8th. Stifel Nicolaus increased their target price on shares of Hinge Health from $63.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, September 11th. Piper Sandler reiterated an “overweight” rating and set a $71.00 price target (up previously from $70.00) on shares of Hinge Health in a research report on Wednesday, November 5th. Finally, Evercore ISI upped their target price on shares of Hinge Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Hinge Health presently has an average rating of “Moderate Buy” and an average price target of $59.93.

Hinge Health Trading Down 1.3%

Shares of HNGE opened at $47.57 on Friday. Hinge Health has a 52 week low of $33.42 and a 52 week high of $62.18. The firm’s 50-day simple moving average is $47.59 and its 200 day simple moving average is $49.43.

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

Hinge Health announced that its Board of Directors has approved a share repurchase program on Wednesday, November 12th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 7.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Hinge Health

In other Hinge Health news, President James Pursley sold 15,000 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $45.57, for a total value of $683,550.00. Following the transaction, the president directly owned 789,902 shares of the company’s stock, valued at approximately $35,995,834.14. This trade represents a 1.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Daniel Antonio Perez sold 166,670 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $48.53, for a total transaction of $8,088,495.10. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,638,440 shares of company stock worth $120,486,691 over the last quarter.

Institutional Trading of Hinge Health

Institutional investors have recently made changes to their positions in the business. Lisanti Capital Growth LLC acquired a new position in shares of Hinge Health during the 2nd quarter worth approximately $3,089,000. JPMorgan Chase & Co. purchased a new position in Hinge Health during the second quarter worth $43,840,000. Seven Grand Managers LLC acquired a new position in shares of Hinge Health in the second quarter worth $12,938,000. Strategic Blueprint LLC purchased a new stake in shares of Hinge Health in the second quarter valued at $346,000. Finally, Foresite Capital Management VI LLC acquired a new stake in shares of Hinge Health during the second quarter valued at $6,986,000.

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.