Wall Street Zen Upgrades Hinge Health (NYSE:HNGE) to Buy

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

Other research analysts have also issued research reports about the company. Royal Bank Of Canada dropped their price target on Hinge Health from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, February 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Hinge Health in a research report on Thursday, January 22nd. Citizens Jmp restated a “market outperform” rating and set a $65.00 price target on shares of Hinge Health in a report on Wednesday, February 11th. Canaccord Genuity Group dropped their price objective on shares of Hinge Health from $65.00 to $53.00 and set a “buy” rating for the company in a research note on Wednesday, February 11th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $59.00 price objective on shares of Hinge Health in a research report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $56.73.

Hinge Health Trading Up 0.2%

Shares of Hinge Health stock opened at $45.93 on Friday. The firm has a market cap of $3.62 billion and a PE ratio of -3.59. The stock has a 50 day moving average of $41.65 and a 200 day moving average of $47.61. Hinge Health has a 12 month low of $30.08 and a 12 month high of $62.18.

Hinge Health (NYSE:HNGE) last posted its earnings results on Tuesday, February 10th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.45. The business had revenue of $170.73 million during the quarter, compared to analysts’ expectations of $157.31 million. Hinge Health’s revenue was up 45.5% compared to the same quarter last year.

Hinge Health declared that its Board of Directors has initiated a share buyback plan on Wednesday, November 12th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 7.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Hinge Health

In related news, CEO Daniel Antonio Perez sold 166,665 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $40.26, for a total transaction of $6,709,932.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President James Pursley sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were 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 approximately $37,257,255.20. This trade represents a 1.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 525,491 shares of company stock valued at $23,762,220.

Institutional Investors Weigh In On Hinge Health

Several institutional investors have recently added to or reduced their stakes in HNGE. BIT Capital GmbH grew its stake in shares of Hinge Health by 79.3% during the fourth quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock worth $154,033,000 after acquiring an additional 1,466,577 shares during the last quarter. Vanguard Group Inc. boosted its stake in Hinge Health by 110.5% in the 4th quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company’s stock worth $121,027,000 after purchasing an additional 1,367,693 shares in the last quarter. Tiger Global Management LLC boosted its stake in Hinge Health by 227.1% in the 4th quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company’s stock worth $83,877,000 after purchasing an additional 1,253,743 shares in the last quarter. Marshall Wace LLP purchased a new stake in Hinge Health during the 4th quarter worth approximately $54,469,000. Finally, Millennium Management LLC increased its stake in Hinge Health by 225.0% during the 4th quarter. Millennium Management LLC now owns 1,479,642 shares of the company’s stock valued at $68,729,000 after purchasing an additional 1,024,317 shares in the last quarter.

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.