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

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

HNGE has been the topic of several other reports. Evercore ISI increased their price target on shares of Hinge Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 8th. Canaccord Genuity Group upped their target price on Hinge Health from $61.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Baird R W upgraded Hinge Health to a “hold” rating in a report on Friday, September 5th. Barclays boosted their price target on Hinge Health from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Finally, Stifel Nicolaus increased their price objective on Hinge Health from $63.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Hinge Health presently has a consensus rating of “Moderate Buy” and an average price target of $59.93.

Hinge Health Stock Performance

Shares of HNGE stock opened at $47.10 on Friday. Hinge Health has a fifty-two week low of $33.42 and a fifty-two week high of $62.18. The business has a fifty day simple moving average of $47.79 and a 200-day simple moving average of $49.03.

Hinge Health (NYSE:HNGE) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.18. The business had revenue of $154.21 million during the quarter, compared to analysts’ expectations of $142.44 million. The company’s revenue was up 53.3% on a year-over-year basis.

Hinge Health announced that its Board of Directors has initiated a share repurchase program on Wednesday, November 12th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 7.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Activity at Hinge Health

In other news, major shareholder Insight Holdings Group, Llc sold 1,654,440 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $47.76, for a total transaction of $79,016,054.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James Budge sold 44,589 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 479,878 shares of the company’s stock, valued at $22,779,808.66. This trade represents a 8.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 2,612,949 shares of company stock worth $119,252,822.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Hinge Health during the third quarter valued at about $37,000. Montag A & Associates Inc. acquired a new position in shares of Hinge Health in the 2nd quarter valued at about $41,000. SBI Securities Co. Ltd. purchased a new stake in shares of Hinge Health during the 2nd quarter worth about $48,000. Aster Capital Management DIFC Ltd acquired a new stake in Hinge Health during the 3rd quarter worth approximately $49,000. Finally, Jones Financial Companies Lllp raised its holdings in Hinge Health by 348.0% in the third quarter. Jones Financial Companies Lllp now owns 1,120 shares of the company’s stock valued at $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.