Hinge Health (NYSE:HNGE) Stock Price Up 4.5% Following Analyst Upgrade

Key Points

• Hinge Health shares rose 4.5% after Canaccord Genuity raised its price target from $63 to $65 and kept a buy rating on the stock.
• Other analysts were also positive, including Barclays, Piper Sandler, Wells Fargo, and Citizens JMP, leaving Hinge Health with a Moderate Buy consensus and an average price target of $67.53.
• The company recently posted strong quarterly results, with EPS of $0.45 versus expectations of $0.12 and revenue up 47.2% year over year, although insiders have sold shares in recent months.

Hinge Health Inc. (NYSE:HNGE - Get Free Report) was up 4.5% during mid-day trading on Friday after Canaccord Genuity Group raised their price target on the stock from $63.00 to $65.00. Canaccord Genuity Group currently has a buy rating on the stock. Hinge Health traded as high as $65.63 and last traded at $65.8080. Approximately 334,119 shares were traded during trading, a decline of 74% from the average daily volume of 1,290,404 shares. The stock had previously closed at $62.98.

Several other brokerages also recently weighed in on HNGE. Barclays lifted their target price on Hinge Health from $52.00 to $62.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Piper Sandler reissued an "overweight" rating and set a $95.00 price target on shares of Hinge Health in a report on Wednesday, May 6th. Wells Fargo & Company lifted their price objective on shares of Hinge Health from $68.00 to $80.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Wall Street Zen raised shares of Hinge Health from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 23rd. Finally, Citizens Jmp raised their target price on shares of Hinge Health from $65.00 to $80.00 and gave the company a "market outperform" rating in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Hinge Health currently has an average rating of "Moderate Buy" and a consensus target price of $67.53.

Insider Buying and Selling at Hinge Health

In related news, CEO Daniel Antonio Perez sold 45,456 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $55.05, for a total transaction of $2,502,352.80. Following the completion of the sale, the chief executive officer directly owned 35,470 shares of the company's stock, valued at $1,952,623.50. This represents a 56.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President James Pursley sold 16,000 shares of Hinge Health stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $53.79, for a total value of $860,640.00. Following the completion of the transaction, the president directly owned 780,223 shares in the company, valued at $41,968,195.17. This represents a 2.01% 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 have sold a total of 504,600 shares of company stock valued at $26,582,068 in the last ninety days. 18.92% of the stock is owned by insiders.

Institutional Investors Weigh In On Hinge Health

A number of large investors have recently made changes to their positions in HNGE. Wells Fargo & Company MN raised its stake in Hinge Health by 160.0% during the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company's stock valued at $25,000 after purchasing an additional 336 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Hinge Health during the fourth quarter valued at $26,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Hinge Health during the third quarter valued at $37,000. First Horizon Corp lifted its stake in Hinge Health by 163.9% in the 4th quarter. First Horizon Corp now owns 855 shares of the company's stock worth $40,000 after acquiring an additional 531 shares in the last quarter. Finally, CENTRAL TRUST Co purchased a new stake in Hinge Health in the 1st quarter worth about $37,000.

Hinge Health Trading Up 4.5%

The stock has a 50-day simple moving average of $47.46 and a 200 day simple moving average of $45.18. The stock has a market capitalization of $5.09 billion and a price-to-earnings ratio of -5.33.

Hinge Health (NYSE:HNGE - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.33. The company had revenue of $182.31 million for the quarter. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.Hinge Health's revenue for the quarter was up 47.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.30 EPS. Sell-side analysts expect that Hinge Health Inc. will post 1.21 earnings per share for the current fiscal year.

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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