Hinge Health Inc. (NYSE:HNGE) Receives Consensus Rating of “Moderate Buy” from Brokerages

Hinge Health Inc. (NYSE:HNGE) has received a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, fourteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $101.9286.

HNGE has been the subject of a number of research analyst reports. Raymond James Financial increased their target price on Hinge Health from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, June 15th. Truist Financial upped their price target on Hinge Health from $85.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Hinge Health in a research note on Monday, August 3rd. Robert W. Baird raised their price objective on Hinge Health from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 17th. Finally, KeyCorp upped their target price on Hinge Health from $90.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, July 13th.

Insider Activity at Hinge Health

In other news, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $82.83, for a total transaction of $121,484,027.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Gabriel Mecklenburg sold 83,334 shares of the stock in a transaction on Wednesday, July 1st. The stock was 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 of the company’s stock, valued at approximately $7,087,556.70. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 3,510,039 shares of company stock worth $276,899,004. Company insiders own 18.92% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of HNGE. BNP Paribas Financial Markets lifted its stake in shares of Hinge Health by 162.7% in the 4th quarter. BNP Paribas Financial Markets now owns 727,672 shares of the company’s stock valued at $33,800,000 after purchasing an additional 450,643 shares during the last quarter. UBS Group AG boosted its holdings in Hinge Health by 168.8% during the fourth quarter. UBS Group AG now owns 356,701 shares of the company’s stock valued at $16,569,000 after acquiring an additional 223,980 shares during the period. Royce & Associates LP bought a new stake in Hinge Health during the fourth quarter valued at about $2,091,000. Vista Investment Partners LLC acquired a new stake in shares of Hinge Health in the second quarter valued at about $3,468,000. Finally, 11.2 Capital Management LLC bought a new position in shares of Hinge Health in the second quarter worth about $204,566,531.

Hinge Health Price Performance

Hinge Health stock opened at $92.79 on Wednesday. Hinge Health has a fifty-two week low of $30.08 and a fifty-two week high of $95.57. The firm’s 50 day simple moving average is $85.84 and its 200-day simple moving average is $63.11. The company has a market cap of $7.49 billion, a P/E ratio of 72.49 and a beta of 1.38.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.28 by $0.31. Hinge Health had a net margin of 15.15% and a return on equity of 51.60%. The business had revenue of $212.82 million during the quarter. During the same quarter last year, the company posted $0.59 EPS. The firm’s revenue was up 53.0% compared to the same quarter last year. On average, analysts expect that Hinge Health will post 1.25 EPS for the current fiscal year.

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.