Hinge Health (NYSE:HNGE) Cut to Hold at Wall Street Zen

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

A number of other research analysts have also issued reports on HNGE. Truist Financial raised their target price on shares of Hinge Health from $79.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Raymond James Financial boosted their target price on shares of Hinge Health from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, June 15th. Royal Bank Of Canada upped 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. Robert W. Baird lifted their price objective on Hinge Health from $55.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 17th. Finally, Piper Sandler reissued an “overweight” rating on shares of Hinge Health in a research report on Wednesday, June 10th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $100.57.

View Our Latest Research Report on HNGE

Hinge Health Stock Performance

HNGE opened at $91.33 on Friday. The business has a 50 day moving average price of $76.83 and a 200 day moving average price of $55.36. Hinge Health has a twelve month low of $30.08 and a twelve month high of $92.89. The firm has a market cap of $7.07 billion, a P/E ratio of 71.35 and a beta of 1.31.

Hinge Health (NYSE:HNGEGet Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.31. Hinge Health had a return on equity of 65.44% and a net margin of 15.15%.The firm had revenue of $212.82 million during the quarter. During the same period in the previous year, the company earned $0.59 EPS. The firm’s revenue for the quarter was up 53.0% compared to the same quarter last year. As a group, analysts anticipate that Hinge Health will post 1.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Hinge Health news, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $60.22, for a total value of $5,018,373.48. Following the sale, the chairman directly owned 83,334 shares in the company, valued at $5,018,373.48. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $82.83, for a total transaction of $121,484,027.61. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,715,194 shares of company stock worth $287,886,932 in the last ninety days. 18.92% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hinge Health

A number of institutional investors have recently added to or reduced their stakes in HNGE. BNP Paribas Financial Markets lifted its stake in Hinge Health by 162.7% during the fourth quarter. BNP Paribas Financial Markets now owns 727,672 shares of the company’s stock worth $33,800,000 after purchasing an additional 450,643 shares during the period. UBS Group AG grew its stake in shares of Hinge Health by 168.8% in the 4th quarter. UBS Group AG now owns 356,701 shares of the company’s stock valued at $16,569,000 after purchasing an additional 223,980 shares during the period. Royce & Associates LP bought a new stake in shares of Hinge Health in the 4th quarter valued at approximately $2,091,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Hinge Health by 755.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,354 shares of the company’s stock worth $1,271,000 after buying an additional 24,155 shares in the last quarter. Finally, Alkeon Capital Management LLC lifted its position in shares of Hinge Health by 110.4% during the 4th quarter. Alkeon Capital Management LLC now owns 791,104 shares of the company’s stock worth $36,747,000 after buying an additional 415,093 shares during the period.

Hinge Health Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Hinge Health (NYSE:HNGE)

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