Hinge Health Inc. (NYSE:HNGE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Hinge Health Inc. (NYSE:HNGE) have earned an average recommendation of “Moderate Buy” from the nineteen analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $56.7333.

A number of analysts recently weighed in on HNGE shares. Evercore set a $50.00 price objective on Hinge Health and gave the company an “outperform” rating in a report on Wednesday, February 11th. Piper Sandler decreased their price target on Hinge Health from $71.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, January 9th. Royal Bank Of Canada cut their price objective on Hinge Health from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 11th. Needham & Company LLC reissued a “buy” rating and set a $59.00 target price on shares of Hinge Health in a research report on Wednesday, February 11th. Finally, Wall Street Zen lowered shares of Hinge Health from a “buy” rating to a “hold” rating in a report on Sunday, December 28th.

Insiders Place Their Bets

In related news, President James Pursley sold 15,000 shares of the firm’s stock in a transaction that occurred 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 owned 769,778 shares of the company’s stock, valued at $37,257,255.20. This trade represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO James Budge sold 10,491 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $48.41, for a total value of $507,869.31. Following the completion of the transaction, the chief financial officer directly owned 441,174 shares in the company, valued at approximately $21,357,233.34. This trade represents a 2.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 2,224,520 shares of company stock valued at $104,894,914.

Institutional Trading of Hinge Health

Several hedge funds have recently modified their holdings of the stock. Lisanti Capital Growth LLC acquired a new position in shares of Hinge Health during the second quarter valued at about $3,089,000. JPMorgan Chase & Co. acquired a new stake in shares of Hinge Health in the 2nd quarter valued at about $43,840,000. Seven Grand Managers LLC bought a new stake in Hinge Health in the 2nd quarter valued at about $12,938,000. Strategic Blueprint LLC bought a new position in Hinge Health in the second quarter worth approximately $346,000. Finally, Foresite Capital Management VI LLC acquired a new stake in Hinge Health in the second quarter valued at approximately $6,986,000.

Hinge Health Stock Performance

Shares of NYSE HNGE opened at $41.38 on Friday. The firm has a 50 day moving average price of $42.62 and a two-hundred day moving average price of $48.57. The stock has a market cap of $3.26 billion and a P/E ratio of -3.23. Hinge Health has a 52-week low of $30.08 and a 52-week high of $62.18.

Hinge Health declared that its board has initiated a stock repurchase plan on Wednesday, November 12th that permits the company to repurchase $250.00 million in outstanding 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 leadership believes its shares are 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.