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

Hinge Health Inc. (NYSE:HNGE) has earned a consensus rating of “Moderate Buy” from the nineteen ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, fifteen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $82.6667.

Several equities research analysts recently weighed in on the company. Raymond James Financial lifted their price objective on Hinge Health from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. Robert W. Baird increased their target price on shares of Hinge Health from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 17th. Zacks Research upgraded shares of Hinge Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Evercore reissued an “outperform” rating and issued a $45.00 price target on shares of Hinge Health in a research report on Wednesday, April 8th. Finally, Truist Financial raised their price objective on shares of Hinge Health from $79.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, June 11th.

Insiders Place Their Bets

In other Hinge Health news, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of Hinge Health stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $82.83, for a total transaction of $121,484,027.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $60.22, for a total value of $5,018,373.48. Following the sale, the chairman owned 83,334 shares in the company, valued at approximately $5,018,373.48. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,921,100 shares of company stock worth $299,222,881 in the last quarter. 18.92% of the stock is owned by company insiders.

Institutional Trading of Hinge Health

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN boosted its holdings in Hinge Health by 160.0% in the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock valued at $25,000 after purchasing an additional 336 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Hinge Health in the fourth quarter worth $26,000. CENTRAL TRUST Co bought a new position in shares of Hinge Health in the first quarter worth $37,000. First Horizon Corp raised its position in shares of Hinge Health by 163.9% in the fourth quarter. First Horizon Corp now owns 855 shares of the company’s stock worth $40,000 after buying an additional 531 shares in the last quarter. Finally, High Point Wealth Management LLC purchased a new stake in shares of Hinge Health in the fourth quarter worth $46,000.

Hinge Health Trading Up 0.5%

Shares of NYSE HNGE opened at $87.53 on Tuesday. The stock has a fifty day simple moving average of $69.60 and a two-hundred day simple moving average of $51.88. Hinge Health has a 1-year low of $30.08 and a 1-year high of $91.50. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of -7.09 and a beta of 1.13.

Hinge Health (NYSE:HNGE) last issued its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.33. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.The firm had revenue of $182.31 million for the quarter. During the same quarter in the previous year, the firm earned $1.30 earnings per share. The business’s quarterly revenue was up 47.2% compared to the same quarter last year. Analysts forecast that Hinge Health will post 1.37 EPS for the current year.

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.