Hinge Health (NYSE:HNGE) Upgraded at Wells Fargo & Company

Hinge Health (NYSE:HNGE) was upgraded by stock analysts at Wells Fargo & Company to a “strong-buy” rating in a research note issued to investors on Thursday, MarketBeat.com reports.

A number of other equities analysts have also recently issued reports on HNGE. Evercore ISI lifted their target price on shares of Hinge Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Canaccord Genuity Group upped their target price on Hinge Health from $61.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Morgan Stanley raised their price target on Hinge Health from $57.00 to $67.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 23rd. Wall Street Zen cut Hinge Health from a “buy” rating to a “hold” rating in a report on Sunday, December 28th. Finally, Stifel Nicolaus increased their price objective on Hinge Health from $63.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, September 11th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Hinge Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.06.

Hinge Health Stock Performance

HNGE opened at $48.01 on Thursday. The company has a market cap of $3.78 billion and a price-to-earnings ratio of -3.66. Hinge Health has a one year low of $33.42 and a one year high of $62.18. The business’s fifty day moving average is $47.11 and its two-hundred day moving average is $49.99.

Hinge Health (NYSE:HNGE) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.18. The firm had revenue of $154.21 million for the quarter, compared to analyst estimates of $142.44 million. The firm’s revenue was up 53.3% on a year-over-year basis.

Hinge Health declared that its Board of Directors has authorized a share repurchase program on Wednesday, November 12th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to buy up to 7.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Hinge Health news, Director Kristina M. Leslie sold 1,250 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $45.68, for a total value of $57,100.00. Following the sale, the director directly owned 27,750 shares of the company’s stock, valued at approximately $1,267,620. This trade represents a 4.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James Budge sold 10,491 shares of Hinge Health stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $48.41, for a total value of $507,869.31. Following the completion of the sale, the chief financial officer owned 441,174 shares of the company’s stock, valued at $21,357,233.34. This trade represents a 2.32% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 2,805,105 shares of company stock valued at $128,216,614.

Institutional Investors Weigh In On Hinge Health

Several hedge funds have recently modified their holdings of HNGE. Mirae Asset Global Investments Co. Ltd. acquired a new position in Hinge Health during the third quarter worth approximately $37,000. Montag A & Associates Inc. purchased a new stake in shares of Hinge Health during the 2nd quarter valued at $41,000. SBI Securities Co. Ltd. acquired a new stake in shares of Hinge Health during the 2nd quarter worth $48,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Hinge Health in the 3rd quarter worth $49,000. Finally, Jones Financial Companies Lllp boosted its holdings in Hinge Health by 348.0% in the third quarter. Jones Financial Companies Lllp now owns 1,120 shares of the company’s stock valued at $54,000 after acquiring an additional 870 shares during the last quarter.

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.