Hinge Health Inc. (NYSE:HNGE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Hinge Health Inc. (NYSE:HNGE) has been given a consensus rating of “Moderate Buy” by the eighteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, fourteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $100.5714.

A number of brokerages have commented on HNGE. Weiss Ratings reissued a “sell (d-)” rating on shares of Hinge Health in a research note on Monday, August 3rd. Wells Fargo & Company increased their target price on Hinge Health from $90.00 to $103.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Robert W. Baird lifted their price target on shares of Hinge Health from $55.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, June 17th. Wall Street Zen lowered shares of Hinge Health from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Stifel Nicolaus set a $96.00 price objective on shares of Hinge Health in a report on Wednesday, August 5th.

Insider Transactions at Hinge Health

In other news, major shareholder Insight Holdings Group, Llc sold 181,499 shares of the business’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $90.20, for a total transaction of $16,371,209.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $85.05, for a total transaction of $7,087,556.70. Following the completion of the sale, the chairman owned 83,334 shares in the company, valued at $7,087,556.70. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,715,613 shares of company stock valued at $287,949,587 over the last three months. Corporate insiders own 18.92% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Nykredit A S purchased a new position in shares of Hinge Health during the second quarter valued at approximately $29,000. Wells Fargo & Company MN raised its position in Hinge Health by 160.0% in the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock valued at $25,000 after buying an additional 336 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Hinge Health in the 4th quarter valued at $26,000. First Horizon Corp lifted its stake in Hinge Health by 163.9% during the 4th quarter. First Horizon Corp now owns 855 shares of the company’s stock valued at $40,000 after acquiring an additional 531 shares in the last quarter. Finally, CENTRAL TRUST Co bought a new position in Hinge Health during the 1st quarter valued at $37,000.

Hinge Health Price Performance

HNGE stock opened at $88.44 on Friday. The company’s 50-day moving average is $81.40 and its 200-day moving average is $58.29. The stock has a market capitalization of $7.14 billion, a PE ratio of 69.09 and a beta of 1.30. Hinge Health has a 1 year low of $30.08 and a 1 year high of $93.13.

Hinge Health (NYSE:HNGE) last issued its earnings results on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.31. Hinge Health had a return on equity of 51.60% and a net margin of 15.15%.The business had revenue of $212.82 million during the quarter. During the same period in the previous year, the firm earned $0.59 earnings per share. The business’s quarterly revenue was up 53.0% on a year-over-year basis. On average, analysts anticipate that Hinge Health will post 1.25 earnings per share 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.