Hinge Health Inc. (NYSE:HNGE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Hinge Health Inc. (NYSE:HNGE) has received a consensus recommendation of “Moderate Buy” from the nineteen analysts that are presently covering the firm, MarketBeat Ratings 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 assigned a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $60.0625.

Several equities research analysts have recently commented on HNGE shares. Wall Street Zen downgraded shares of Hinge Health from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. Piper Sandler cut their price target on Hinge Health from $71.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, January 9th. KeyCorp decreased their price objective on Hinge Health from $72.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, January 8th. Needham & Company LLC restated a “buy” rating and issued a $59.00 target price on shares of Hinge Health in a report on Tuesday, January 6th. Finally, Canaccord Genuity Group lifted their target price on Hinge Health from $61.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th.

Hinge Health Stock Down 2.5%

Shares of NYSE:HNGE opened at $41.50 on Tuesday. Hinge Health has a twelve month low of $33.42 and a twelve month high of $62.18. The stock’s 50 day moving average is $46.84 and its 200-day moving average is $49.89. The firm has a market capitalization of $3.27 billion and a price-to-earnings ratio of -3.16.

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

Hinge Health declared that its board has initiated a share buyback program on Wednesday, November 12th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 7.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, President James Pursley sold 15,000 shares of the firm’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $48.40, for a total transaction of $726,000.00. Following the transaction, the president directly owned 769,778 shares of the company’s stock, valued at $37,257,255.20. This trade represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO James Budge sold 10,491 shares of the business’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $48.41, for a total transaction of $507,869.31. Following the transaction, the chief financial officer owned 441,174 shares in the company, valued at approximately $21,357,233.34. This trade represents a 2.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,805,105 shares of company stock valued at $128,216,614 over the last 90 days.

Institutional Trading of Hinge Health

A number of hedge funds have recently bought and sold shares of HNGE. BIT Capital GmbH boosted its position in Hinge Health by 144.6% in the third quarter. BIT Capital GmbH now owns 1,849,524 shares of the company’s stock worth $90,775,000 after purchasing an additional 1,093,320 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Hinge Health by 22.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,237,839 shares of the company’s stock worth $60,753,000 after purchasing an additional 228,234 shares during the period. Bamco Inc. NY purchased a new position in shares of Hinge Health in the 2nd quarter worth about $48,943,000. Braidwell LP purchased a new position in shares of Hinge Health in the 3rd quarter worth about $44,686,000. Finally, JPMorgan Chase & Co. bought a new position in Hinge Health during the second quarter valued at about $43,840,000.

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.