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

Hinge Health Inc. (NYSE:HNGE) has been given an average rating of “Moderate Buy” by the nineteen brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $57.0667.

Several equities analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Hinge Health in a research note on Thursday, January 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $59.00 price objective on shares of Hinge Health in a research note on Wednesday, February 11th. Canaccord Genuity Group cut their price objective on shares of Hinge Health from $65.00 to $53.00 and set a “buy” rating for the company in a report on Wednesday, February 11th. Evercore set a $50.00 target price on Hinge Health and gave the stock an “outperform” rating in a report on Wednesday, February 11th. Finally, Wells Fargo & Company started coverage on Hinge Health in a research report on Thursday, January 8th. They issued an “overweight” rating and a $68.00 price target for the company.

Hinge Health Stock Performance

NYSE HNGE opened at $44.19 on Wednesday. The business has a fifty day moving average price of $41.40 and a 200 day moving average price of $46.92. The company has a market cap of $3.48 billion and a P/E ratio of -3.45. Hinge Health has a one year low of $30.08 and a one year high of $62.18.

Hinge Health (NYSE:HNGE) last announced its earnings results on Tuesday, February 10th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.45. The business had revenue of $170.73 million for the quarter, compared to analyst estimates of $157.31 million. The firm’s revenue was up 45.5% on a year-over-year basis.

Insider Buying and Selling

In other news, President James Pursley sold 15,000 shares of Hinge Health stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $48.40, for a total transaction of $726,000.00. Following the transaction, the president owned 769,778 shares in the company, valued at $37,257,255.20. The trade was a 1.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James Budge sold 10,491 shares of Hinge Health stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $48.41, for a total value of $507,869.31. Following the transaction, the chief financial officer owned 441,174 shares in the company, valued at approximately $21,357,233.34. This represents a 2.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 525,487 shares of company stock worth $23,227,028.

Institutional Investors Weigh In On Hinge Health

Hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN increased its position in Hinge Health by 160.0% during 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. Caitong International Asset Management Co. Ltd acquired a new position in Hinge Health in the 4th quarter valued at about $26,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Hinge Health in the 3rd quarter valued at approximately $37,000. First Horizon Corp grew its stake in shares of Hinge Health by 163.9% in the 4th quarter. First Horizon Corp now owns 855 shares of the company’s stock valued at $40,000 after buying an additional 531 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Hinge Health during the 2nd quarter worth approximately $48,000.

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.