Hinge Health (NYSE:HNGE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Hinge Health (NYSE:HNGE) from a hold rating to a buy rating in a research report released on Saturday.

Several other research firms have also recently weighed in on HNGE. Stifel Nicolaus upped their price target on shares of Hinge Health from $63.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, September 11th. Morgan Stanley upped their target price on Hinge Health from $57.00 to $67.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 23rd. Evercore ISI lifted their price target on Hinge Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 8th. Barclays boosted their price objective on Hinge Health from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hinge Health in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $59.93.

Hinge Health Trading Up 2.7%

NYSE HNGE opened at $48.51 on Friday. The business’s fifty day moving average is $47.75 and its 200-day moving average is $49.22. Hinge Health has a one year low of $33.42 and a one year high of $62.18.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate 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. Hinge Health’s revenue for the quarter was up 53.3% compared to the same quarter last year.

Hinge Health declared that its Board of Directors has initiated a stock repurchase program on Wednesday, November 12th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 7.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity at Hinge Health

In other news, CEO Daniel Antonio Perez sold 166,670 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $48.53, for a total transaction of $8,088,495.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James Budge sold 44,589 shares of the stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $47.47, for a total transaction of $2,116,639.83. Following the sale, the chief financial officer owned 479,878 shares of the company’s stock, valued at approximately $22,779,808.66. This represents a 8.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,612,949 shares of company stock worth $119,252,822 over the last ninety days.

Hedge Funds Weigh In On Hinge Health

A number of institutional investors have recently bought and sold shares of HNGE. CHURCHILL MANAGEMENT Corp bought a new stake in Hinge Health in the second quarter worth $828,000. FNY Investment Advisers LLC bought a new position in Hinge Health in the 2nd quarter worth about $310,000. Strategic Blueprint LLC purchased a new stake in Hinge Health during the 2nd quarter valued at about $346,000. Emerald Advisers LLC bought a new stake in Hinge Health during the 2nd quarter valued at about $108,000. Finally, Mark Sheptoff Financial Planning LLC purchased a new position in Hinge Health in the second quarter worth about $114,000.

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.