Hinge Health (NYSE:HNGE) Upgraded at Zacks Research

Hinge Health (NYSE:HNGE) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Several other equities research analysts also recently issued reports on HNGE. Raymond James Financial reiterated an “outperform” rating and issued a $70.00 target price on shares of Hinge Health in a research note on Wednesday, May 6th. Freedom Capital upgraded shares of Hinge Health to a “strong-buy” rating in a research note on Thursday, January 22nd. Citizens Jmp raised their price objective on Hinge Health from $65.00 to $80.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 6th. Weiss Ratings raised Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Finally, KeyCorp set a $55.00 price objective on Hinge Health in a research report on Wednesday, February 11th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Hinge Health currently has an average rating of “Moderate Buy” and an average price target of $67.40.

Hinge Health Trading Down 0.5%

NYSE HNGE opened at $53.78 on Wednesday. The company has a market cap of $4.24 billion and a PE ratio of -4.36. Hinge Health has a 12 month low of $30.08 and a 12 month high of $62.18. The stock has a 50 day moving average of $43.95 and a 200-day moving average of $44.18.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.33. The firm had revenue of $182.31 million during the quarter. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The business’s revenue was up 47.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.30 EPS. As a group, sell-side analysts predict that Hinge Health will post 1.21 EPS for the current fiscal year.

Insider Activity at Hinge Health

In other Hinge Health news, Chairman Gabriel M.I. Mecklenburg sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $55.01, for a total transaction of $2,750,500.00. Following the completion of the sale, the chairman directly owned 50,000 shares in the company, valued at $2,750,500. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Antonio Perez sold 45,456 shares of Hinge Health stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $55.05, for a total value of $2,502,352.80. Following the sale, the chief executive officer directly 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 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. Over the last three months, insiders have sold 481,911 shares of company stock valued at $23,412,917. 18.92% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hinge Health

A number of hedge funds and other institutional investors have recently modified their holdings of HNGE. Marshall Wace LLP acquired a new stake in shares of Hinge Health during the second quarter worth $367,000. Sei Investments Co. acquired a new stake in Hinge Health in the 2nd quarter worth about $869,000. Squarepoint Ops LLC acquired a new stake in Hinge Health in the 2nd quarter worth about $19,706,000. Raymond James Financial Inc. acquired a new stake in Hinge Health in the 2nd quarter worth about $3,258,000. Finally, Sandia Investment Management LP acquired a new stake in Hinge Health in the 2nd quarter worth about $657,000.

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.