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

Shares of Hinge Health Inc. (NYSE:HNGE) have been assigned an average rating of “Moderate Buy” from the eighteen analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $100.5714.

HNGE has been the topic of several recent analyst reports. Royal Bank Of Canada lifted their target price on Hinge Health from $75.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Robert W. Baird increased their price target on Hinge Health from $55.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, June 17th. Canaccord Genuity Group set a $105.00 price target on Hinge Health in a research report on Wednesday, August 5th. Evercore reiterated an “outperform” rating and issued a $105.00 price objective on shares of Hinge Health in a research report on Wednesday, August 5th. Finally, Zacks Research cut Hinge Health from a “strong-buy” rating to a “hold” rating in a research note on Tuesday.

Insider Activity

In other news, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $60.22, for a total value of $5,018,373.48. Following the transaction, the chairman directly owned 83,334 shares of the company’s stock, valued at $5,018,373.48. This trade represents a 50.00% 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. Insiders have sold 3,715,194 shares of company stock valued at $287,886,932 over the last ninety days. 18.92% of the stock is owned by insiders.

Institutional Trading of Hinge Health

Several institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its holdings in Hinge Health by 162.7% during the 4th quarter. BNP Paribas Financial Markets now owns 727,672 shares of the company’s stock worth $33,800,000 after purchasing an additional 450,643 shares during the last quarter. UBS Group AG grew its holdings in Hinge Health by 168.8% in the 4th quarter. UBS Group AG now owns 356,701 shares of the company’s stock valued at $16,569,000 after buying an additional 223,980 shares in the last quarter. Royce & Associates LP bought a new position in Hinge Health during the 4th quarter worth $2,091,000. Alkeon Capital Management LLC lifted its holdings in shares of Hinge Health by 110.4% during the fourth quarter. Alkeon Capital Management LLC now owns 791,104 shares of the company’s stock worth $36,747,000 after buying an additional 415,093 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Hinge Health by 755.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,354 shares of the company’s stock worth $1,271,000 after buying an additional 24,155 shares in the last quarter.

Hinge Health Stock Performance

Shares of HNGE opened at $88.18 on Friday. The firm has a market capitalization of $6.82 billion, a price-to-earnings ratio of 68.89 and a beta of 1.30. The business’s fifty day moving average price is $78.98 and its two-hundred day moving average price is $56.55. Hinge Health has a 52 week low of $30.08 and a 52 week high of $93.13.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, topping 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 company had revenue of $212.82 million during the quarter. During the same quarter in the prior year, the firm earned $0.59 EPS. The firm’s quarterly revenue was up 53.0% compared to the same quarter last year. As a group, research analysts forecast that Hinge Health will post 1.25 EPS for the current year.

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.