Hinge Health Inc. (NYSE:HNGE) Given Average Rating of “Moderate Buy” by Analysts

Hinge Health Inc. (NYSE:HNGE) has been given a consensus rating of “Moderate Buy” by the nineteen ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, fifteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $59.9333.

Several equities analysts recently issued reports on HNGE shares. Baird R W upgraded shares of Hinge Health to a “hold” rating in a research report on Friday, September 5th. Canaccord Genuity Group upped their target price on Hinge Health from $61.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Evercore ISI raised their target price on Hinge Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Morgan Stanley boosted their target price on shares of Hinge Health from $57.00 to $67.00 and gave the company an “overweight” rating in a report on Tuesday, September 23rd. Finally, Stifel Nicolaus upped their target price on shares of Hinge Health from $63.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, September 11th.

Insider Activity at Hinge Health

In other news, CEO Daniel Antonio Perez sold 166,670 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $48.53, for a total value of $8,088,495.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO James Budge sold 10,491 shares of the stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $48.41, for a total transaction of $507,869.31. Following the sale, 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 position. The SEC filing for this sale provides additional information. Insiders sold a total of 2,638,440 shares of company stock worth $120,486,691 in the last ninety days.

Institutional Trading of Hinge Health

A number of institutional investors have recently made changes to their positions in the stock. BIT Capital GmbH raised its holdings in shares of Hinge Health by 144.6% during the third quarter. BIT Capital GmbH now owns 1,849,524 shares of the company’s stock valued at $90,775,000 after purchasing an additional 1,093,320 shares during the last quarter. Bamco Inc. NY purchased a new stake in Hinge Health during the 2nd quarter valued at $48,943,000. Braidwell LP bought a new position in shares of Hinge Health during the 3rd quarter valued at $44,686,000. JPMorgan Chase & Co. bought a new position in shares of Hinge Health in the 2nd quarter worth approximately $43,840,000. Finally, Franklin Resources Inc. bought a new stake in Hinge Health during the second quarter valued at approximately $28,462,000.

Hinge Health Stock Performance

NYSE:HNGE opened at $46.42 on Friday. Hinge Health has a fifty-two week low of $33.42 and a fifty-two week high of $62.18. The firm has a market cap of $3.65 billion and a PE ratio of -3.54. The business has a 50 day moving average price of $47.33 and a 200-day moving average price of $49.65.

Hinge Health (NYSE:HNGE) last announced its 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 business had revenue of $154.21 million for the quarter, compared to the consensus estimate of $142.44 million. The business’s 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.

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.