Hinge Health (NYSE:HNGE) Stock Price Down 5.6% – Should You Sell?

Hinge Health Inc. (NYSE:HNGE)’s stock price fell 5.6% during trading on Wednesday . The company traded as low as $80.72 and last traded at $79.6520. Approximately 172,293 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 1,492,101 shares. The stock had previously closed at $84.35.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wells Fargo & Company increased their price objective on Hinge Health from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, June 23rd. Royal Bank Of Canada boosted their target price on Hinge Health from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, June 11th. Stifel Nicolaus set a $79.00 price target on Hinge Health in a research report on Wednesday, June 10th. Zacks Research upgraded Hinge Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Finally, Truist Financial lifted their price objective on Hinge Health from $79.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $84.27.

Hinge Health Trading Down 6.9%

The company’s fifty day moving average is $70.19 and its 200 day moving average is $52.14. The company has a market capitalization of $6.08 billion, a P/E ratio of -6.35 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 analysts’ consensus estimates of $0.12 by $0.33. The business had revenue of $182.31 million for the quarter. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The company’s revenue was up 47.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.30 EPS. Equities research analysts predict that Hinge Health Inc. will post 1.37 EPS for the current year.

Insider Activity at Hinge Health

In other Hinge Health news, major shareholder Insight Holdings Group, Llc sold 181,499 shares of Hinge Health stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $90.20, for a total transaction of $16,371,209.80. 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 Wednesday, July 1st. The shares were sold at an average price of $85.05, for a total value of $7,087,556.70. Following the sale, the chairman owned 83,334 shares in the company, valued at approximately $7,087,556.70. 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. In the last three months, insiders have sold 3,921,100 shares of company stock worth $299,222,881. 18.92% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hinge Health

Several hedge funds have recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its holdings in shares of Hinge Health by 3.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,400 shares of the company’s stock valued at $362,000 after acquiring an additional 300 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Hinge Health by 160.0% during the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock worth $25,000 after purchasing an additional 336 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Hinge Health by 0.6% in the first quarter. Lazard Asset Management LLC now owns 63,705 shares of the company’s stock worth $2,456,000 after purchasing an additional 386 shares during the last quarter. First Horizon Corp increased 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 purchasing an additional 531 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Hinge Health in the fourth quarter valued at approximately $26,000.

Hinge Health Company Profile

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.