Hinge Health Inc. (NYSE:HNGE) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Hinge Health has a consensus analyst rating of “Moderate Buy”, with 19 analysts covering the stock and an average 12-month price target of about $82.67.
• Several firms recently raised their targets on HNGE, including Wells Fargo to $90 and Truist to $85, reflecting generally bullish sentiment despite one sell and one hold rating in the group.
• The company’s latest earnings beat expectations, with EPS of $0.45 versus a $0.12 estimate and revenue up 47.2% year over year to $182.31 million, though insiders have also been selling shares in recent months.

Shares of Hinge Health Inc. (NYSE:HNGE - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the nineteen analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $82.6667.

A number of analysts have weighed in on HNGE shares. Wells Fargo & Company increased their price target on Hinge Health from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Tuesday, June 23rd. Canaccord Genuity Group raised their target price on Hinge Health from $65.00 to $76.00 and gave the stock a "buy" rating in a research note on Monday, June 15th. Truist Financial boosted their price target on Hinge Health from $79.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, June 11th. Robert W. Baird raised their price objective on shares of Hinge Health from $55.00 to $65.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 17th. Finally, Needham & Company LLC boosted their target price on shares of Hinge Health from $63.00 to $76.00 and gave the company a "buy" rating in a research report on Thursday, June 11th.

Hinge Health Price Performance

Shares of HNGE stock opened at $87.53 on Tuesday. The stock has a market capitalization of $6.77 billion, a PE ratio of -7.09 and a beta of 1.13. The business's 50 day simple moving average is $69.60 and its 200 day simple moving average is $51.88. Hinge Health has a one year low of $30.08 and a one year high of $91.50.

Hinge Health (NYSE:HNGE - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.33. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The firm had revenue of $182.31 million during the quarter. During the same quarter in the previous year, the business posted $1.30 EPS. The firm's revenue for the quarter was up 47.2% compared to the same quarter last year. As a group, research analysts expect that Hinge Health will post 1.37 earnings per share for the current year.

Insider Buying and Selling at Hinge Health

In other news, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $85.05, for a total value of $7,087,556.70. Following the completion of the sale, the chairman owned 83,334 shares in the company, valued at $7,087,556.70. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 dated Monday, June 22nd. The shares were sold at an average price of $69.31, for a total transaction of $2,287,230.00. Following the transaction, the president directly owned 740,897 shares in the company, valued at $51,351,571.07. The trade was a 4.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 3,921,100 shares of company stock worth $299,222,881. 18.92% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hinge Health

Hedge funds have recently modified their holdings of the company. Janney Montgomery Scott LLC grew 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 purchasing an additional 300 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Hinge Health by 160.0% in the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company's stock worth $25,000 after buying an additional 336 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Hinge Health by 0.6% in the 1st quarter. Lazard Asset Management LLC now owns 63,705 shares of the company's stock worth $2,456,000 after buying an additional 386 shares during the last quarter. First Horizon Corp grew 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 buying an additional 531 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Hinge Health during the fourth quarter worth about $26,000.

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.

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