Hinge Health (NYSE:HNGE) Upgraded to “Buy” at Wall Street Zen

Hinge Health (NYSE:HNGE) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

A number of other equities research analysts also recently commented on the company. Freedom Capital upgraded Hinge Health to a “strong-buy” rating in a research report on Thursday, January 22nd. Citizens Jmp reissued a “market outperform” rating and set a $65.00 price target on shares of Hinge Health in a research report on Wednesday, February 11th. Evercore set a $50.00 price objective on shares of Hinge Health and gave the company an “outperform” rating in a research note on Wednesday, February 11th. KeyCorp set a $55.00 price objective on shares of Hinge Health in a report on Wednesday, February 11th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Hinge Health in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Hinge Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.73.

Hinge Health Price Performance

Shares of HNGE stock opened at $45.93 on Friday. The business has a fifty day moving average of $41.65 and a 200 day moving average of $47.61. Hinge Health has a 1 year low of $30.08 and a 1 year high of $62.18. The firm has a market capitalization of $3.62 billion and a price-to-earnings ratio of -3.59.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.45. The firm had revenue of $170.73 million for the quarter, compared to analysts’ expectations of $157.31 million. The company’s revenue was up 45.5% on a year-over-year basis.

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

Insider Activity at Hinge Health

In other Hinge Health news, CFO James Budge sold 10,491 shares of the business’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 completion of the transaction, the chief financial officer directly owned 441,174 shares of the company’s stock, valued at approximately $21,357,233.34. The trade was a 2.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President James Pursley sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $48.40, for a total value of $726,000.00. Following the completion of the sale, the president owned 769,778 shares in the company, valued at approximately $37,257,255.20. This represents a 1.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 525,491 shares of company stock worth $23,762,220.

Institutional Trading of Hinge Health

Hedge funds have recently added to or reduced their stakes in the company. Mark Sheptoff Financial Planning LLC purchased a new position in Hinge Health in the second quarter valued at $114,000. Lisanti Capital Growth LLC purchased a new stake in shares of Hinge Health during the 2nd quarter worth about $3,089,000. Montag A & Associates Inc. purchased a new stake in shares of Hinge Health during the 2nd quarter worth about $41,000. SBI Securities Co. Ltd. acquired a new stake in shares of Hinge Health during the 2nd quarter valued at about $48,000. Finally, PNC Financial Services Group Inc. purchased a new position in shares of Hinge Health in the 2nd quarter valued at about $71,000.

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.