Hinge Health Inc. (NYSE:HNGE) Given Average Recommendation of “Moderate Buy” by Brokerages

Hinge Health Inc. (NYSE:HNGE) has been assigned a consensus rating of “Moderate Buy” from the nineteen research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, sixteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $67.40.

Several research firms have recently issued reports on HNGE. Raymond James Financial reaffirmed an “outperform” rating and set a $70.00 price target on shares of Hinge Health in a research note on Wednesday, May 6th. Canaccord Genuity Group boosted their price objective on shares of Hinge Health from $53.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Stifel Nicolaus increased their price objective on Hinge Health from $59.00 to $67.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Citizens Jmp lifted their target price on Hinge Health from $65.00 to $80.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada upped their price target on Hinge Health from $55.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th.

Insider Buying and Selling

In other Hinge Health news, President James Pursley sold 15,000 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $42.26, for a total transaction of $633,900.00. Following the completion of the sale, the president owned 732,104 shares of the company’s stock, valued at approximately $30,938,715.04. This represents a 2.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Daniel Antonio Perez sold 45,456 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $55.05, for a total transaction of $2,502,352.80. Following the transaction, the chief executive officer owned 35,470 shares of the company’s stock, valued at approximately $1,952,623.50. The trade was a 56.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 642,670 shares of company stock valued at $29,799,083. Insiders own 18.92% of the company’s stock.

Hedge Funds Weigh In On Hinge Health

Several hedge funds and other institutional investors have recently bought and sold shares of HNGE. Vanguard Group Inc. boosted its holdings 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 buying an additional 228,234 shares in the last quarter. Tudor Investment Corp ET AL increased its stake in shares of Hinge Health by 25.9% in the 3rd quarter. Tudor Investment Corp ET AL now owns 376,266 shares of the company’s stock valued at $18,467,000 after acquiring an additional 77,464 shares in the last quarter. First Eagle Investment Management LLC acquired a new position in shares of Hinge Health during the 3rd quarter valued at $4,074,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Hinge Health by 755.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,354 shares of the company’s stock worth $1,271,000 after acquiring an additional 24,155 shares in the last quarter. Finally, Braidwell LP acquired a new stake in Hinge Health in the third quarter worth $44,686,000.

Hinge Health Trading Down 2.4%

Shares of HNGE stock opened at $54.69 on Thursday. The firm has a market capitalization of $4.31 billion and a price-to-earnings ratio of -4.43. The business’s 50-day moving average price is $43.34 and its 200-day moving average price is $44.07. Hinge Health has a 12 month low of $30.08 and a 12 month high of $62.18.

Hinge Health (NYSE:HNGE) last released its quarterly earnings data 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 279.39% and a negative net margin of 78.95%.The company had revenue of $182.31 million during the quarter. During the same period in the prior year, the company earned $1.30 EPS. The business’s quarterly revenue was up 47.2% compared to the same quarter last year. On average, sell-side analysts predict that Hinge Health will post 0.78 earnings per share for the current fiscal 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.