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

Key Points

• Wall Street Zen downgraded Hinge Health to “hold” from “buy,” though broader analyst sentiment remains “Moderate Buy” with a consensus price target of $98.64.
• Hinge Health reported quarterly EPS of $0.59, beating estimates of $0.28, while revenue rose 53% year over year to $212.82 million.
• The stock opened at $89.04 after gaining 11.2%, but insiders sold 3.72 million shares worth approximately $288.2 million over the past 90 days.

Hinge Health (NYSE:HNGE - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday.

HNGE has been the topic of a number of other research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Hinge Health in a research report on Monday. Evercore reiterated an "outperform" rating and set a $105.00 price objective on shares of Hinge Health in a research note on Wednesday. Canaccord Genuity Group set a $105.00 price objective on shares of Hinge Health in a report on Wednesday. Citigroup restated an "outperform" rating on shares of Hinge Health in a report on Monday, July 27th. Finally, Wells Fargo & Company increased their target price on Hinge Health from $90.00 to $103.00 and gave the company an "overweight" rating in a research report on Wednesday. Two investment 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $98.64.

Hinge Health Stock Up 11.2%

Shares of NYSE:HNGE opened at $89.04 on Friday. The business's 50 day moving average is $76.22 and its 200 day moving average is $54.93. The stock has a market cap of $6.89 billion, a P/E ratio of 69.56 and a beta of 1.30. Hinge Health has a 52-week low of $30.08 and a 52-week high of $91.50.

Hinge Health (NYSE:HNGE - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share for the quarter, beating 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 business had revenue of $212.82 million during the quarter. During the same period last year, the firm earned $0.59 earnings per share. The company's revenue for the quarter was up 53.0% on a year-over-year basis. On average, sell-side analysts anticipate that Hinge Health will post 1.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the business's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $85.05, for a total transaction of $7,087,556.70. Following the sale, the chairman owned 83,334 shares in the company, valued at approximately $7,087,556.70. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 company'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 owned 740,897 shares in the company, valued at approximately $51,351,571.07. This trade represents a 4.26% 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. Over the last 90 days, insiders sold 3,721,100 shares of company stock valued at $288,210,699. 18.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP purchased a new stake in shares of Hinge Health during the second quarter valued at $367,000. Sei Investments Co. purchased a new position in Hinge Health in the 2nd quarter worth $869,000. Squarepoint Ops LLC purchased a new position in Hinge Health in the 2nd quarter worth $19,706,000. Raymond James Financial Inc. acquired a new stake in Hinge Health during the 2nd quarter worth about $3,258,000. Finally, Sandia Investment Management LP purchased a new stake in Hinge Health during the 2nd quarter valued at about $657,000.

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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