Hinge Health (NYSE:HNGE) Downgraded by Wall Street Zen to Hold

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

Other equities research analysts also recently issued research reports about the company. KeyCorp set a $55.00 price target on Hinge Health in a report on Wednesday, February 11th. Royal Bank Of Canada raised their price target on Hinge Health from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday, March 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Hinge Health in a report on Thursday, January 22nd. Piper Sandler lowered their price target on Hinge Health from $71.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, January 9th. Finally, Citizens Jmp reissued a “market outperform” rating and issued a $65.00 price target on shares of Hinge Health in a report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.73.

Hinge Health Price Performance

Shares of HNGE stock opened at $45.42 on Friday. Hinge Health has a 1-year low of $30.08 and a 1-year high of $62.18. The stock’s 50-day moving average is $42.03 and its 200 day moving average is $43.99. The company has a market cap of $3.58 billion and a P/E ratio of -3.55.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.45. The company had revenue of $170.73 million for the quarter, compared to the consensus estimate of $157.31 million. The firm’s quarterly revenue was up 45.5% compared to the same quarter last year. On average, analysts anticipate that Hinge Health will post 0.78 EPS for the current year.

Insider Transactions at Hinge Health

In other news, Chairman Gabriel M.I. Mecklenburg sold 166,666 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $45.32, for a total value of $7,553,303.12. 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 166,665 shares of the firm’s 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. In the last ninety days, insiders have sold 442,670 shares of company stock valued at $18,786,901.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN raised its position in 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 purchased a new position in Hinge Health during the fourth quarter valued at approximately $26,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Hinge Health during the third quarter valued at approximately $37,000. CENTRAL TRUST Co purchased a new position in Hinge Health during the first quarter valued at approximately $37,000. Finally, First Horizon Corp raised its position in 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.