Hinge Health (NYSE:HNGE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Hinge Health (NYSE:HNGE) from a hold rating to a buy rating in a research report report published on Saturday,Wall Street Zen reports.

Several other equities research analysts have also recently commented on the stock. Bank of America began coverage on shares of Hinge Health in a research report on Tuesday, September 29th. They issued a “buy” rating and a $110.00 price target on the stock. Royal Bank Of Canada lifted their target price on Hinge Health from $110.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, November 3rd. Citizens Jmp boosted their target price on Hinge Health from $96.00 to $107.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 5th. Wells Fargo & Company upped their target price on Hinge Health from $103.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday, November 3rd. Finally, Citigroup reiterated an “outperform” rating on shares of Hinge Health in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.93.

Hinge Health Stock Performance

Shares of HNGE opened at $121.75 on Friday. Hinge Health has a 1 year low of $30.08 and a 1 year high of $124.94. The company has a market cap of $9.82 billion, a price-to-earnings ratio of 65.69, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19. The firm has a fifty day moving average of $101.49 and a 200-day moving average of $69.24.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings data on Monday, November 2nd. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.44. Hinge Health had a net margin of 21.02% and a return on equity of 73.91%. The business had revenue of $234.97 million for the quarter. During the same quarter in the prior year, the firm earned ($0.02) earnings per share. Hinge Health’s revenue for the quarter was up 52.4% compared to the same quarter last year. Analysts predict that Hinge Health will post 1.56 EPS for the current year.

Insider Activity

In other Hinge Health news, President James Pursley sold 33,000 shares of the business’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $94.14, for a total transaction of $3,106,620.00. Following the sale, the president directly owned 666,909 shares of the company’s stock, valued at $62,782,813.26. The trade was a 4.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO James Budge sold 47,720 shares of the business’s stock in a transaction on Monday, October 12th. The shares were sold at an average price of $103.13, for a total transaction of $4,921,363.60. Following the sale, the chief financial officer directly owned 296,728 shares in the company, valued at approximately $30,601,558.64. This trade represents a 13.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,024,581 shares of company stock worth $95,632,761 in the last quarter. Insiders own 18.92% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. lifted its position in Hinge Health by 39.5% in the 3rd quarter. SBI Securities Co. Ltd. now owns 364 shares of the company’s stock worth $35,000 after buying an additional 103 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Hinge Health by 2.1% during the 3rd quarter. ProShare Advisors LLC now owns 5,588 shares of the company’s stock valued at $543,000 after acquiring an additional 117 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Hinge Health by 140.0% during the 2nd quarter. IFP Advisors Inc now owns 324 shares of the company’s stock valued at $27,000 after acquiring an additional 189 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Hinge Health by 3.3% in the first quarter. Janney Montgomery Scott LLC now owns 9,400 shares of the company’s stock worth $362,000 after acquiring an additional 300 shares during the last quarter. Finally, Nykredit A S purchased a new stake in shares of Hinge Health during the second quarter worth $29,000.

Hinge Health Company Profile

Hinge Health is a digital health company focused on musculoskeletal care, including support for people with back, joint and muscle pain. Its services are designed to help members manage conditions through personalized, technology-enabled care.

The company’s offerings include app-based exercise therapy, education and behavioral support, along with access to clinical care teams. Hinge Health also uses wearable motion sensors in some programs to guide and track exercises.

Founded in 2015, Hinge Health primarily provides its services through employers and health plans.