Hinge Health (NYSE:HNGE) Downgraded by Zacks Research to “Hold”

Hinge Health (NYSE:HNGE) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other research analysts also recently issued reports about the company. KeyCorp increased their price objective on Hinge Health from $90.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Canaccord Genuity Group set a $105.00 target price on shares of Hinge Health in a report on Wednesday, August 5th. Truist Financial upped their price target on shares of Hinge Health from $85.00 to $112.00 and gave the company a “buy” rating in a research note on Monday. Royal Bank Of Canada increased their price target on shares of Hinge Health from $75.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Finally, Citizens Jmp raised their price objective on shares of Hinge Health from $96.00 to $107.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $100.57.

Hinge Health Trading Down 3.4%

Shares of NYSE HNGE opened at $86.00 on Tuesday. The firm has a market cap of $6.65 billion, a PE ratio of 67.19 and a beta of 1.30. Hinge Health has a 1-year low of $30.08 and a 1-year high of $93.13. The company has a fifty day moving average price of $77.99 and a 200 day moving average price of $56.01.

Hinge Health (NYSE:HNGE) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.31. The firm had revenue of $212.82 million for the quarter. Hinge Health had a return on equity of 65.44% and a net margin of 15.15%.The business’s revenue for the quarter was up 53.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 EPS. Equities research analysts forecast that Hinge Health will post 1.25 EPS for the current year.

Insider Buying and Selling at Hinge Health

In other Hinge Health news, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $82.83, for a total value of $121,484,027.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of Hinge Health stock in a transaction on Monday, June 1st. The shares were sold at an average price of $60.22, for a total transaction of $5,018,373.48. Following the completion of the sale, the chairman directly owned 83,334 shares of the company’s stock, valued at approximately $5,018,373.48. This trade represents a 50.00% 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. Over the last three months, insiders have sold 3,715,194 shares of company stock worth $287,886,932. 18.92% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HNGE. Wells Fargo & Company MN boosted its holdings in Hinge Health by 160.0% in the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock worth $25,000 after acquiring an additional 336 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Hinge Health during the 4th quarter worth approximately $26,000. CENTRAL TRUST Co purchased a new stake in shares of Hinge Health during the 1st quarter worth approximately $37,000. First Horizon Corp lifted its stake in Hinge Health by 163.9% in the fourth quarter. First Horizon Corp now owns 855 shares of the company’s stock valued at $40,000 after purchasing an additional 531 shares during the last quarter. Finally, High Point Wealth Management LLC purchased a new position in Hinge Health in the fourth quarter valued at approximately $46,000.

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.