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

Shares of Hinge Health Inc. (NYSE:HNGE) have been given a consensus recommendation of “Moderate Buy” by the nineteen ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, sixteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $60.0625.

A number of brokerages have recently issued reports on HNGE. Evercore ISI raised their price objective on Hinge Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. KeyCorp decreased their target price on shares of Hinge Health from $72.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, January 8th. Needham & Company LLC restated a “buy” rating and set a $59.00 price target on shares of Hinge Health in a report on Tuesday, January 6th. Weiss Ratings restated a “sell (d)” rating on shares of Hinge Health in a research report on Thursday. Finally, Piper Sandler decreased their price objective on shares of Hinge Health from $71.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, January 9th.

Hinge Health Stock Down 2.5%

Shares of Hinge Health stock opened at $41.50 on Tuesday. Hinge Health has a twelve month low of $33.42 and a twelve month high of $62.18. The stock has a market cap of $3.27 billion and a price-to-earnings ratio of -3.16. The company’s fifty day moving average is $46.84 and its 200 day moving average is $49.89.

Hinge Health (NYSE:HNGE) last announced its earnings results on Tuesday, November 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.18. The company 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% on a year-over-year basis.

Hinge Health announced that its Board of Directors has approved a share buyback plan on Wednesday, November 12th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to buy up to 7.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Hinge Health

In other Hinge Health news, CEO Daniel Antonio Perez sold 166,670 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $48.53, for a total value of $8,088,495.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO James Budge sold 44,589 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $47.47, for a total value of $2,116,639.83. Following the transaction, the chief financial officer owned 479,878 shares in the company, valued at $22,779,808.66. The trade was a 8.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 2,805,105 shares of company stock worth $128,216,614.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sandler Capital Management increased its stake in Hinge Health by 1.4% in the third quarter. Sandler Capital Management now owns 52,728 shares of the company’s stock valued at $2,588,000 after purchasing an additional 728 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Hinge Health during the 3rd quarter worth about $37,000. Montag A & Associates Inc. acquired a new stake in shares of Hinge Health in the 2nd quarter valued at about $41,000. Jones Financial Companies Lllp grew its stake in shares of Hinge Health by 348.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,120 shares of the company’s stock valued at $54,000 after buying an additional 870 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in Hinge Health in the 2nd quarter valued at about $48,000.

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.