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

Key Points

• Wall Street Zen downgraded Hinge Health (HNGE) from a "buy" to a "hold," signaling a more cautious near-term view from that research provider.
• Despite the downgrade, analysts' consensus remains a “Moderate Buy” with a $56.73 average price target; HNGE opened at $45.42, has a 12‑month range of $30.08–$62.18, a $3.58 billion market cap and a negative P/E.
• Hinge Health posted a quarterly earnings beat (EPS $0.49 vs. $0.04 estimate) and 45.5% revenue growth to $170.7M, while insiders have sold roughly 442,670 shares (~$18.8M) in the past 90 days.

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

A number of other analysts also recently issued reports on the stock. Evercore reiterated an "outperform" rating and issued a $45.00 price objective on shares of Hinge Health in a report on Wednesday, April 8th. Weiss Ratings reiterated a "sell (d)" rating on shares of Hinge Health in a report on Thursday, January 22nd. Wells Fargo & Company began coverage on shares of Hinge Health in a report on Thursday, January 8th. They issued an "overweight" rating and a $68.00 price objective on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $59.00 price objective on shares of Hinge Health in a report on Wednesday, February 11th. Finally, Stifel Nicolaus set a $59.00 price objective on shares of Hinge Health in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $56.73.

Hinge Health Stock Performance

Shares of HNGE opened at $45.42 on Friday. Hinge Health has a twelve month low of $30.08 and a twelve month high of $62.18. The firm's 50 day moving average price is $42.03 and its two-hundred day moving average price is $44.03. The firm has a market cap of $3.58 billion and a P/E ratio of -3.55.

Hinge Health (NYSE:HNGE - Get Free Report) last announced its quarterly earnings results 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 during 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, sell-side analysts anticipate that Hinge Health will post 0.78 earnings per share for the current fiscal year.

Insider Activity

In related news, President James Pursley sold 15,000 shares of the business's stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $42.26, for a total transaction of $633,900.00. Following the transaction, the president directly owned 732,104 shares in the company, valued at approximately $30,938,715.04. The trade was a 2.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Gabriel M.I. Mecklenburg sold 166,666 shares of the business's stock in a transaction on Friday, March 6th. The stock was sold at an average price of $45.32, for a total transaction of $7,553,303.12. The SEC filing for this sale provides additional information. Insiders have sold a total of 442,670 shares of company stock valued at $18,786,901 in the last ninety days.

Hedge Funds Weigh In On Hinge Health

A number of institutional investors have recently added to or reduced their stakes in HNGE. Vanguard Group Inc. increased its holdings in shares of Hinge Health by 22.6% in the third quarter. Vanguard Group Inc. now owns 1,237,839 shares of the company's stock valued at $60,753,000 after purchasing an additional 228,234 shares during the last quarter. Tudor Investment Corp ET AL increased its holdings in shares of Hinge Health by 25.9% in the third quarter. Tudor Investment Corp ET AL now owns 376,266 shares of the company's stock valued at $18,467,000 after purchasing an additional 77,464 shares during the last quarter. First Eagle Investment Management LLC acquired a new position in shares of Hinge Health in the third quarter valued at $4,074,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Hinge Health by 755.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,354 shares of the company's stock valued at $1,271,000 after purchasing an additional 24,155 shares during the last quarter. Finally, Braidwell LP acquired a new position in shares of Hinge Health in the third quarter valued at $44,686,000.

About Hinge Health

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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