Hinge Health (NYSE:HNGE) Stock Rating Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Hinge Health (NYSE:HNGE) from a hold rating to a buy rating in a research report report published on Saturday morning,Wall Street Zen reports.

HNGE has been the subject of several other reports. Evercore restated an “outperform” rating and issued a $105.00 target price on shares of Hinge Health in a report on Wednesday, August 5th. Truist Financial boosted their price target on shares of Hinge Health from $112.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, November 3rd. Canaccord Genuity Group upped their price objective on shares of Hinge Health from $105.00 to $134.00 and gave the company a “buy” rating in a report on Tuesday, November 3rd. Stifel Nicolaus upped their price objective on shares of Hinge Health from $130.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, November 3rd. Finally, Weiss Ratings cut shares of Hinge Health from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $118.93.

Hinge Health Price Performance

HNGE stock opened at $115.75 on Friday. The business has a 50 day simple moving average of $100.80 and a 200-day simple moving average of $68.84. The firm has a market capitalization of $9.34 billion, a PE ratio of 59.06, a price-to-earnings-growth ratio of 2.03 and a beta of 1.19. Hinge Health has a 1 year low of $30.08 and a 1 year high of $124.94.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings results on Monday, November 2nd. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.27 by $0.44. Hinge Health had a return on equity of 73.91% and a net margin of 21.02%. The firm had revenue of $234.97 million during the quarter. During the same period in the prior year, the business posted ($0.02) EPS. Hinge Health’s revenue for the quarter was up 52.4% compared to the same quarter last year. On average, equities research analysts expect that Hinge Health will post 1.56 EPS for the current year.

Insider Activity at Hinge Health

In other news, President James Pursley sold 33,000 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $88.05, for a total value of $2,905,650.00. Following the sale, the president directly owned 706,235 shares of the company’s stock, valued at approximately $62,183,991.75. The trade was a 4.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Perez sold 150,000 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $89.44, for a total transaction of $13,416,000.00. Following the completion of the transaction, the chief executive officer owned 35,470 shares in the company, valued at approximately $3,172,436.80. This represents a 80.88% decrease in their ownership of the stock. 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. In the last three months, insiders sold 1,024,581 shares of company stock worth $95,632,761. 18.92% of the stock is owned by corporate insiders.

Institutional Trading of Hinge Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. 11.2 Capital Management LLC acquired a new position in shares of Hinge Health in the second quarter valued at approximately $204,566,531. Assenagon Asset Management S.A. increased its stake in Hinge Health by 2,141.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,854,922 shares of the company’s stock worth $180,373,000 after buying an additional 1,772,182 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Hinge Health by 225.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company’s stock worth $44,852,000 after buying an additional 806,007 shares during the period. Wellington Management Group LLP lifted its holdings in Hinge Health by 169.7% during the 2nd quarter. Wellington Management Group LLP now owns 1,205,584 shares of the company’s stock worth $100,063,000 after buying an additional 758,594 shares in the last quarter. Finally, Estuary Capital Management LP acquired a new stake in Hinge Health during the 1st quarter worth approximately $15,201,000.

About Hinge Health

Hinge Health is a digital healthcare company focused on musculoskeletal (MSK) conditions, including back and joint pain. The company provides virtual care programs designed to help members manage pain, improve mobility and reduce the need for more costly or invasive treatments.

Its platform combines personalized exercise therapy, behavioral support, education and access to clinical professionals. Hinge Health also uses technologies such as motion-sensing wearable devices and artificial intelligence to help guide exercises, monitor progress and tailor care plans to individual needs.

Hinge Health primarily serves employers and health plans, which offer its programs to eligible members in the United States.