Hinge Health (NYSE:HNGE) Downgraded to “Hold” Rating by Zacks Research

Zacks Research downgraded shares of Hinge Health (NYSE:HNGE) from a strong-buy rating to a hold rating in a research note published on Tuesday,Zacks.com reports.

HNGE has been the topic of a number of other reports. Citizens Jmp raised their price target on shares of Hinge Health from $96.00 to $107.00 and gave the company a “market outperform” rating in a report on Wednesday, August 5th. Royal Bank Of Canada increased their target price on shares of Hinge Health from $75.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Wells Fargo & Company raised their target price on shares of Hinge Health from $90.00 to $103.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Raymond James Financial lifted their price target on shares of Hinge Health from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. Finally, Truist Financial upped their price target on Hinge Health from $85.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.57.

Hinge Health Stock Down 3.4%

Shares of NYSE:HNGE opened at $86.00 on Tuesday. The firm has a 50 day moving average of $77.99 and a 200 day moving average of $56.01. The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of 67.19 and a beta of 1.30. Hinge Health has a 52 week low of $30.08 and a 52 week high of $93.13.

Hinge Health (NYSE:HNGE) last announced its earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.31. Hinge Health had a return on equity of 65.44% and a net margin of 15.15%.The business had revenue of $212.82 million for the quarter. During the same period last year, the business posted $0.59 EPS. The firm’s revenue was up 53.0% compared to the same quarter last year. On average, sell-side analysts expect that Hinge Health will post 1.25 EPS for the current year.

Insider Activity at Hinge Health

In other Hinge Health news, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $60.22, for a total transaction of $5,018,373.48. Following the transaction, the chairman owned 83,334 shares in the company, valued at $5,018,373.48. The trade was a 50.00% decrease in their position. 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. Insiders sold a total of 3,715,194 shares of company stock valued at $287,886,932 over the last ninety days. 18.92% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hinge Health

A number of large investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC grew its stake in Hinge Health by 3.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,400 shares of the company’s stock valued at $362,000 after purchasing an additional 300 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Hinge Health by 160.0% in 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 during the last quarter. Lazard Asset Management LLC raised its stake 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 lifted its holdings in shares of Hinge Health by 163.9% during 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 period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Hinge Health during the fourth quarter worth about $26,000.

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.