Wall Street Zen Upgrades Hinge Health (NYSE:HNGE) to “Buy”

Hinge Health (NYSE:HNGE) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday, Wall Street Zen reports.

A number of other analysts also recently weighed in on HNGE. Evercore reiterated an “outperform” rating and issued a $105.00 price target on shares of Hinge Health in a research report on Wednesday, August 5th. Needham & Company LLC boosted their price objective on shares of Hinge Health from $115.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, November 3rd. Citigroup reaffirmed an “outperform” rating on shares of Hinge Health in a research note on Monday, July 27th. Truist Financial increased their target price on shares of Hinge Health from $112.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, November 3rd. Finally, KeyCorp increased their target price on shares of Hinge Health from $125.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $118.93.

Hinge Health Stock Down 0.0%

NYSE:HNGE opened at $115.75 on Friday. Hinge Health has a 12-month low of $30.08 and a 12-month high of $124.94. The firm has a market capitalization of $9.34 billion, a P/E ratio of 59.06, a P/E/G ratio of 1.63 and a beta of 1.19. The stock’s fifty day simple moving average is $100.80 and its 200-day simple moving average is $68.84.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings data on Monday, November 2nd. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.44. Hinge Health had a return on equity of 73.91% and a net margin of 21.02%. The business had revenue of $234.97 million during the quarter. During the same period last year, the firm earned ($0.02) earnings per share. The firm’s revenue for the quarter was up 52.4% on a year-over-year basis. As a group, equities research analysts expect that Hinge Health will post 1.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Daniel Perez sold 150,000 shares of the 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 sale, the chief executive officer directly owned 35,470 shares of the company’s stock, valued at approximately $3,172,436.80. This represents a 80.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Gabriel Mecklenburg sold 250,000 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $88.97, for a total transaction of $22,242,500.00. Following the sale, the chairman owned 250,000 shares in the company, valued at $22,242,500. 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 quarter, insiders have sold 1,024,581 shares of company stock worth $95,632,761. Company insiders own 18.92% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HNGE. SBI Securities Co. Ltd. lifted its position in shares of Hinge Health by 39.5% in the third quarter. SBI Securities Co. Ltd. now owns 364 shares of the company’s stock worth $35,000 after purchasing an additional 103 shares in the last quarter. ProShare Advisors LLC grew its position in Hinge Health by 2.1% in the third quarter. ProShare Advisors LLC now owns 5,588 shares of the company’s stock valued at $543,000 after purchasing an additional 117 shares in the last quarter. IFP Advisors Inc grew its position in Hinge Health by 140.0% in the second quarter. IFP Advisors Inc now owns 324 shares of the company’s stock valued at $27,000 after purchasing an additional 189 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Hinge Health by 3.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,400 shares of the company’s stock valued at $362,000 after buying an additional 300 shares during the last quarter. Finally, Nykredit A S acquired a new stake in Hinge Health in the 2nd quarter valued at $29,000.

Hinge Health Company Profile

Hinge Health is a digital health company focused on musculoskeletal care, including support for people with back, joint and muscle pain. Its services are designed to help members manage conditions through personalized, technology-enabled care.

The company’s offerings include app-based exercise therapy, education and behavioral support, along with access to clinical care teams. Hinge Health also uses wearable motion sensors in some programs to guide and track exercises.

Founded in 2015, Hinge Health primarily provides its services through employers and health plans.