Hinge Health (NYSE:HNGE) Stock Rating Upgraded by Wall Street Zen

Hinge Health (NYSE:HNGE) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

A number of other equities analysts have also commented on the stock. Baird R W upgraded shares of Hinge Health to a “hold” rating in a report on Friday, September 5th. Canaccord Genuity Group raised their target price on Hinge Health from $61.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Evercore ISI lifted their target price on Hinge Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. Morgan Stanley upped their price target on Hinge Health from $57.00 to $67.00 and gave the company an “overweight” rating in a research report on Tuesday, September 23rd. Finally, Robert W. Baird initiated coverage on Hinge Health in a research report on Friday, September 5th. They set a “neutral” rating and a $56.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Hinge Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.93.

Hinge Health Trading Down 2.0%

Hinge Health stock opened at $47.10 on Friday. The stock has a 50-day moving average price of $47.79 and a two-hundred day moving average price of $49.15. Hinge Health has a 12 month low of $33.42 and a 12 month high of $62.18.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.18. The business had revenue of $154.21 million during the quarter, compared to the consensus estimate of $142.44 million. The company’s revenue was up 53.3% on a year-over-year basis.

Hinge Health announced that its board has approved a stock repurchase program on Wednesday, November 12th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to reacquire up to 7.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Hinge Health news, Director Kristina M. Leslie sold 1,250 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $45.68, for a total value of $57,100.00. Following the transaction, the director directly owned 27,750 shares of the company’s stock, valued at approximately $1,267,620. The trade was a 4.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James Budge sold 44,589 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $47.47, for a total value of $2,116,639.83. Following the transaction, the chief financial officer owned 479,878 shares in the company, valued at $22,779,808.66. The trade was a 8.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,612,949 shares of company stock valued at $119,252,822 in the last 90 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of HNGE. BIT Capital GmbH increased its stake in Hinge Health by 144.6% in the third quarter. BIT Capital GmbH now owns 1,849,524 shares of the company’s stock valued at $90,775,000 after purchasing an additional 1,093,320 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Hinge Health by 22.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,237,839 shares of the company’s stock worth $60,753,000 after purchasing an additional 228,234 shares in the last quarter. Bamco Inc. NY acquired a new stake in shares of Hinge Health in the 2nd quarter valued at about $48,943,000. Braidwell LP bought a new stake in Hinge Health in the 3rd quarter valued at about $44,686,000. Finally, JPMorgan Chase & Co. acquired a new position in Hinge Health during the 2nd quarter worth approximately $43,840,000.

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.