Hinge Health (NYSE:HNGE) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Hinge Health from “hold” to “buy.” Across analysts, the stock has a “Moderate Buy” consensus rating and an average price target of $118.93.
• Hinge Health reported quarterly EPS of $0.71, beating the $0.27 consensus estimate, while revenue rose 52.4% year over year to $234.97 million.
• Company insiders sold about 1.02 million shares worth $95.6 million over the past 90 days; the reported sales were made under pre-arranged Rule 10b5-1 plans.

Hinge Health (NYSE:HNGE - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday, Wall Street Zen reports.

Other analysts also recently issued reports about the stock. Zacks Research downgraded shares of Hinge Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 11th. Citigroup reaffirmed an "outperform" rating on shares of Hinge Health in a report on Monday, July 27th. Canaccord Genuity Group increased their price objective on Hinge Health from $105.00 to $134.00 and gave the stock a "buy" rating in a report on Tuesday. Needham & Company LLC raised their target price on Hinge Health from $115.00 to $135.00 and gave the stock a "buy" rating in a research report on Tuesday. Finally, Bank of America initiated coverage on Hinge Health in a report on Tuesday, September 29th. They set a "buy" rating and a $110.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Hinge Health has a consensus rating of "Moderate Buy" and an average price target of $118.93.

Hinge Health Stock Performance

Shares of NYSE:HNGE opened at $115.75 on Friday. The stock has a fifty day moving average of $100.80 and a 200-day moving average of $68.84. Hinge Health has a one year low of $30.08 and a one year high of $124.94. The company has a market capitalization of $9.34 billion, a PE ratio of 62.76 and a beta of 1.19.

Hinge Health (NYSE:HNGE - Get Free Report) last released its quarterly earnings data on Monday, November 2nd. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.44. The firm had revenue of $234.97 million during the quarter. Hinge Health had a return on equity of 73.91% and a net margin of 21.02%. The business's revenue was up 52.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.02) earnings per share. As a group, research analysts forecast that Hinge Health will post 1.25 EPS for the current fiscal year.

Insider Transactions at Hinge Health

In other Hinge Health news, Chairman Gabriel Mecklenburg sold 200,000 shares of the business's stock in a transaction on Monday, October 12th. The shares were sold at an average price of $103.13, for a total transaction of $20,626,000.00. Following the sale, the chairman owned 200,000 shares of the company's stock, valued at $20,626,000. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President James Pursley sold 33,000 shares of the firm's stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $94.14, for a total transaction of $3,106,620.00. Following the completion of the transaction, the president directly owned 666,909 shares in the company, valued at approximately $62,782,813.26. The trade was a 4.71% 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 sold 1,024,581 shares of company stock valued at $95,632,761 over the last 90 days. Company insiders own 18.92% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. IFP Advisors Inc raised its position in shares of Hinge Health by 140.0% in the 2nd 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. Nykredit A S bought a new stake in Hinge Health during the second quarter worth about $29,000. SBI Securities Co. Ltd. increased its position in Hinge Health by 39.5% during the third quarter. SBI Securities Co. Ltd. now owns 364 shares of the company's stock worth $35,000 after acquiring an additional 103 shares during the period. Allworth Financial LP raised its position in Hinge Health by 402.3% in the third quarter. Allworth Financial LP now owns 437 shares of the company's stock valued at $42,000 after purchasing an additional 350 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of Hinge Health in the 1st quarter worth $110,000.

Hinge Health Company Profile

Hinge Health is a digital healthcare company focused on musculoskeletal (MSK) conditions, including back and joint pain. The company provides virtual care programs designed to help members manage pain, improve mobility and reduce the need for more costly or invasive treatments.

Its platform combines personalized exercise therapy, behavioral support, education and access to clinical professionals. Hinge Health also uses technologies such as motion-sensing wearable devices and artificial intelligence to help guide exercises, monitor progress and tailor care plans to individual needs.

Hinge Health primarily serves employers and health plans, which offer its programs to eligible members in the United States.

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