Hinge Health (NYSE:HNGE) Upgraded at Wall Street Zen

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

Other equities research analysts also recently issued reports about the stock. KeyCorp set a $55.00 price target on shares of Hinge Health in a research note on Wednesday, February 11th. Evercore set a $50.00 target price on shares of Hinge Health and gave the stock an “outperform” rating in a report on Wednesday, February 11th. Barclays dropped their target price on shares of Hinge Health from $60.00 to $52.00 and set an “overweight” rating for the company in a research report on Wednesday, February 11th. Canaccord Genuity Group reduced their price target on Hinge Health from $65.00 to $53.00 and set a “buy” rating on the stock in a research report on Wednesday, February 11th. Finally, Freedom Capital upgraded Hinge Health to a “strong-buy” rating in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.73.

Hinge Health Stock Performance

NYSE HNGE opened at $46.02 on Friday. The stock has a fifty day moving average of $41.63 and a 200-day moving average of $47.42. The stock has a market capitalization of $3.62 billion and a P/E ratio of -3.59. Hinge Health has a 52 week low of $30.08 and a 52 week high of $62.18.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.45. The firm had revenue of $170.73 million during the quarter, compared to the consensus estimate of $157.31 million. The company’s revenue for the quarter was up 45.5% compared to the same quarter last year.

Hinge Health declared that its Board of Directors has authorized a share buyback plan on Wednesday, November 12th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 7.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Hinge Health

In other news, President James Pursley sold 15,000 shares of the company’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $48.40, for a total transaction of $726,000.00. Following the completion of the transaction, the president directly owned 769,778 shares of the company’s stock, valued at $37,257,255.20. This represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel Antonio Perez sold 166,665 shares of the stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $40.26, for a total value of $6,709,932.90. The disclosure for this sale is available in the SEC filing. Insiders have sold 525,491 shares of company stock valued at $23,762,220 in the last 90 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. BIT Capital GmbH increased its stake in Hinge Health by 79.3% in the 4th quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock valued at $154,033,000 after buying an additional 1,466,577 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Hinge Health by 110.5% during the 4th quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company’s stock worth $121,027,000 after buying an additional 1,367,693 shares during the last quarter. Tiger Global Management LLC grew its holdings in shares of Hinge Health by 227.1% in the 4th quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company’s stock valued at $83,877,000 after acquiring an additional 1,253,743 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Hinge Health in the 4th quarter valued at about $54,469,000. Finally, Millennium Management LLC increased its position in shares of Hinge Health by 225.0% in the fourth quarter. Millennium Management LLC now owns 1,479,642 shares of the company’s stock valued at $68,729,000 after acquiring an additional 1,024,317 shares during the last quarter.

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.