Hinge Health (NYSE:HNGE) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Hinge Health (NYSE:HNGE) from a buy rating to a hold rating in a research report report published on Sunday.

HNGE has been the topic of several other reports. Barclays lifted their price objective on Hinge Health from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Stifel Nicolaus lifted their target price on shares of Hinge Health from $63.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, September 11th. Piper Sandler reiterated an “overweight” rating and issued a $71.00 target price (up from $70.00) on shares of Hinge Health in a research note on Wednesday, November 5th. Robert W. Baird assumed coverage on shares of Hinge Health in a research note on Friday, September 5th. They set a “neutral” rating and a $56.00 price objective for the company. Finally, Baird R W raised Hinge Health to a “hold” rating in a research report on Friday, September 5th. One research 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $59.93.

Hinge Health Stock Performance

Hinge Health stock opened at $46.25 on Friday. Hinge Health has a fifty-two week low of $33.42 and a fifty-two week high of $62.18. The firm has a 50 day moving average price of $47.44 and a 200 day moving average price of $49.70. The company has a market capitalization of $3.64 billion and a PE ratio of -3.53.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($0.02) earnings per share 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 analysts’ expectations of $142.44 million. The business’s revenue for the quarter was up 53.3% on a year-over-year basis.

Hinge Health declared that its board has approved a stock buyback plan on Wednesday, November 12th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to repurchase up to 7.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Hinge Health

In other Hinge Health news, CFO James Budge sold 10,491 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $48.41, for a total transaction of $507,869.31. Following the sale, the chief financial officer directly owned 441,174 shares in the company, valued at approximately $21,357,233.34. The trade was a 2.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kristina M. Leslie sold 1,250 shares of Hinge Health stock in a transaction on Friday, November 21st. The shares were sold at an average price of $45.68, for a total value of $57,100.00. Following the transaction, the director owned 27,750 shares in the company, valued at approximately $1,267,620. This trade represents a 4.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,638,440 shares of company stock valued at $120,486,691 over the last three months.

Institutional Investors Weigh In On Hinge Health

Institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in Hinge Health during the 3rd quarter worth about $37,000. Montag A & Associates Inc. acquired a new stake in Hinge Health during the 2nd quarter worth $41,000. SBI Securities Co. Ltd. acquired a new position in shares of Hinge Health in the 2nd quarter valued at $48,000. Aster Capital Management DIFC Ltd acquired a new position in Hinge Health in the third quarter valued at about $49,000. Finally, Jones Financial Companies Lllp grew its position in shares of Hinge Health by 348.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,120 shares of the company’s stock worth $54,000 after buying an additional 870 shares during the period.

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.