Hinge Health (NYSE:HNGE) Lowered to “Hold” Rating by Wall Street Zen

Hinge Health (NYSE:HNGE) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Sunday.

Other research analysts have also issued reports about the company. Stifel Nicolaus raised their price objective on Hinge Health from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, September 11th. Robert W. Baird assumed coverage on Hinge Health in a research note on Friday, September 5th. They issued a “neutral” rating and a $56.00 target price for the company. Barclays boosted their price target on Hinge Health from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Baird R W upgraded Hinge Health to a “hold” rating in a report on Friday, September 5th. Finally, Morgan Stanley lifted their price objective on shares of Hinge Health from $57.00 to $67.00 and gave the company an “overweight” rating in a research note on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.93.

Hinge Health Stock Performance

HNGE stock opened at $47.57 on Friday. Hinge Health has a 52-week low of $33.42 and a 52-week high of $62.18. The stock’s fifty day simple moving average is $47.59 and its 200-day simple moving average is $49.43.

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

Hinge Health announced that its board has authorized a stock repurchase program on Wednesday, November 12th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to buy up to 7.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, CFO James Budge sold 10,491 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $48.41, for a total value of $507,869.31. Following the sale, the chief financial officer directly owned 441,174 shares in the company, valued at $21,357,233.34. This trade represents a 2.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Insight Holdings Group, Llc sold 1,654,440 shares of Hinge Health stock in a transaction on Monday, December 1st. The shares were sold at an average price of $47.76, for a total value of $79,016,054.40. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 2,638,440 shares of company stock worth $120,486,691.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Lisanti Capital Growth LLC bought a new stake in shares of Hinge Health during the second quarter valued at about $3,089,000. JPMorgan Chase & Co. bought a new position in Hinge Health in the 2nd quarter valued at about $43,840,000. Seven Grand Managers LLC acquired a new position in Hinge Health during the 2nd quarter valued at about $12,938,000. Strategic Blueprint LLC acquired a new position in Hinge Health during the 2nd quarter valued at about $346,000. Finally, Foresite Capital Management VI LLC bought a new stake in shares of Hinge Health during the 2nd quarter worth about $6,986,000.

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.