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

Shares of Hinge Health Inc. (NYSE:HNGE) have been assigned an average recommendation of “Moderate Buy” from the nineteen ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $56.7333.

HNGE has been the topic of several research analyst reports. Barclays cut their price objective on Hinge Health from $60.00 to $52.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 11th. KeyCorp set a $55.00 price target on shares of Hinge Health in a report on Wednesday, February 11th. Wall Street Zen upgraded shares of Hinge Health from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Evercore reissued an “outperform” rating and set a $45.00 price objective on shares of Hinge Health in a report on Wednesday, April 8th. Finally, Piper Sandler decreased their price objective on Hinge Health from $71.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, January 9th.

Hinge Health Price Performance

Shares of NYSE HNGE opened at $42.86 on Friday. Hinge Health has a 1 year low of $30.08 and a 1 year high of $62.18. The stock has a market capitalization of $3.38 billion and a P/E ratio of -3.35. The company has a 50-day moving average price of $40.67 and a 200-day moving average price of $44.50.

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 company had revenue of $170.73 million during the quarter, compared to the consensus estimate of $157.31 million. The business’s revenue was up 45.5% compared to the same quarter last year.

Insider Activity

In other news, CFO James Budge sold 11,006 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $42.26, for a total value of $465,113.56. Following the transaction, the chief financial officer owned 401,427 shares of the company’s stock, valued at approximately $16,964,305.02. This represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President James Pursley sold 15,000 shares of Hinge Health stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $42.26, for a total transaction of $633,900.00. Following the transaction, the president directly owned 732,104 shares in the company, valued at $30,938,715.04. This trade represents a 2.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 409,337 shares of company stock valued at $17,285,250 over the last 90 days.

Institutional Trading of Hinge Health

Hedge funds have recently modified their holdings of the business. Marshall Wace LLP bought a new position in shares of Hinge Health in the second quarter worth approximately $367,000. Sei Investments Co. purchased a new position in Hinge Health in the 2nd quarter worth approximately $869,000. Squarepoint Ops LLC bought a new position in Hinge Health in the 2nd quarter valued at approximately $19,706,000. Raymond James Financial Inc. purchased a new stake in Hinge Health during the 2nd quarter valued at $3,258,000. Finally, Sandia Investment Management LP bought a new stake in shares of Hinge Health in the 2nd quarter worth $657,000.

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.