Hinge Health (NYSE:HNGE) Downgraded to Hold Rating by 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 sent to investors on Saturday.

A number of other equities analysts have also weighed in on the stock. Royal Bank Of Canada boosted their price objective on shares of Hinge Health from $75.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday. Zacks Research upgraded Hinge Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Needham & Company LLC raised their price objective on Hinge Health from $76.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday. Raymond James Financial lifted their price objective on Hinge Health from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, June 15th. Finally, Citizens Jmp upped their target price on Hinge Health from $96.00 to $107.00 and gave the company a “market outperform” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.64.

Hinge Health Stock Performance

Hinge Health stock opened at $89.04 on Friday. Hinge Health has a fifty-two week low of $30.08 and a fifty-two week high of $91.50. The stock has a fifty day moving average of $76.22 and a two-hundred day moving average of $54.93. The company has a market capitalization of $6.89 billion, a price-to-earnings ratio of 69.56 and a beta of 1.30.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.31. The firm had revenue of $212.82 million during the quarter. Hinge Health had a return on equity of 65.44% and a net margin of 15.15%.The company’s revenue for the quarter was up 53.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 EPS. On average, analysts forecast that Hinge Health will post 1.37 EPS for the current fiscal year.

Insider Activity at Hinge Health

In other news, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $60.22, for a total transaction of $5,018,373.48. Following the completion of the sale, the chairman directly owned 83,334 shares in the company, valued at $5,018,373.48. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $82.83, for a total value of $121,484,027.61. The SEC filing for this sale provides additional information. Insiders have sold 3,721,100 shares of company stock valued at $288,210,699 in the last ninety days. 18.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hinge Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in HNGE. Summit Creek Advisors LLC purchased a new position in shares of Hinge Health in the 2nd quarter worth about $4,972,000. Vista Investment Partners LLC purchased a new stake in shares of Hinge Health during the 2nd quarter worth about $3,468,000. Assenagon Asset Management S.A. purchased a new stake in shares of Hinge Health during the 2nd quarter worth about $6,867,000. California State Teachers Retirement System increased its position in Hinge Health by 35.2% during the 1st quarter. California State Teachers Retirement System now owns 19,141 shares of the company’s stock worth $738,000 after purchasing an additional 4,986 shares in the last quarter. Finally, Estuary Capital Management LP purchased a new position in Hinge Health in the first quarter valued at approximately $15,201,000.

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.