Hinge Health (NYSE:HNGE) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Hinge Health (NYSE:HNGE) from a hold rating to a strong-buy rating in a research report report published on Wednesday,Zacks.com reports.

Several other analysts also recently weighed in on HNGE. Royal Bank Of Canada boosted their price objective on Hinge Health from $55.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Wall Street Zen upgraded Hinge Health from a “hold” rating to a “buy” rating in a research report on Sunday, May 10th. Piper Sandler reiterated an “overweight” rating and issued a $95.00 price objective on shares of Hinge Health in a research report on Wednesday, May 6th. KeyCorp set a $55.00 price objective on Hinge Health in a research report on Wednesday, February 11th. Finally, Citigroup reiterated an “outperform” rating on shares of Hinge Health in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $67.40.

Hinge Health Price Performance

NYSE:HNGE opened at $53.78 on Wednesday. The business has a 50 day moving average of $43.95 and a 200 day moving average of $44.18. The company has a market capitalization of $4.24 billion and a price-to-earnings ratio of -4.36. Hinge Health has a 1-year low of $30.08 and a 1-year high of $62.18.

Hinge Health (NYSE:HNGE) last released its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.33. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.The company had revenue of $182.31 million during the quarter. During the same quarter in the previous year, the firm earned $1.30 EPS. The business’s quarterly revenue was up 47.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hinge Health will post 1.21 EPS for the current year.

Insiders Place Their Bets

In related news, CFO James Budge sold 11,006 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $42.26, for a total transaction of $465,113.56. Following the completion of the transaction, the chief financial officer owned 401,427 shares in the company, valued at $16,964,305.02. This represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Daniel Antonio Perez sold 104,544 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $55.09, for a total value of $5,759,328.96. Following the transaction, the chief executive officer owned 35,470 shares of the company’s stock, valued at approximately $1,954,042.30. This represents a 74.67% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 481,911 shares of company stock worth $23,412,917 in the last ninety days. Insiders own 18.92% of the company’s stock.

Hedge Funds Weigh In On Hinge Health

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN raised its holdings in shares of Hinge Health by 160.0% during the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock valued at $25,000 after acquiring an additional 336 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Hinge Health during the fourth quarter valued at approximately $26,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Hinge Health during the third quarter valued at approximately $37,000. CENTRAL TRUST Co bought a new position in shares of Hinge Health during the first quarter valued at approximately $37,000. Finally, First Horizon Corp raised its holdings in shares of Hinge Health by 163.9% during the fourth quarter. First Horizon Corp now owns 855 shares of the company’s stock valued at $40,000 after acquiring an additional 531 shares in the last quarter.

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.