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

Key Points

• Wall Street sentiment improved as Wall Street Zen upgraded Hinge Health from hold to buy. Several other analysts were also bullish, with the consensus rating remaining Moderate Buy and an average price target of $67.40.
• Hinge Health posted strong quarterly revenue growth, reporting $182.31 million in revenue, up 47.2% year over year, and EPS of $0.45, well above the expected $0.12. Despite that, the company still showed negative margins and a negative return on equity.
• Insiders sold shares recently, including the CEO and president, with total insider sales of 642,670 shares worth about $29.8 million over the last 90 days. At the same time, several institutional investors added or initiated positions in the stock.

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

A number of other equities analysts also recently commented on the stock. Needham & Company LLC lifted their target price on shares of Hinge Health from $59.00 to $63.00 and gave the stock a "buy" rating in a research note on Wednesday. Wells Fargo & Company lifted their target price on shares of Hinge Health from $68.00 to $80.00 and gave the stock an "overweight" rating in a research note on Wednesday. Truist Financial set a $79.00 target price on shares of Hinge Health in a research note on Wednesday. Raymond James Financial reaffirmed an "outperform" rating and set a $70.00 target price on shares of Hinge Health in a research note on Wednesday. Finally, Weiss Ratings raised shares of Hinge Health from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $67.40.

Hinge Health Price Performance

Shares of HNGE stock opened at $55.89 on Friday. The firm's 50-day moving average is $42.81 and its two-hundred day moving average is $44.00. Hinge Health has a 12 month low of $30.08 and a 12 month high of $62.18. The company has a market capitalization of $4.40 billion and a PE ratio of -4.53.

Hinge Health (NYSE:HNGE - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.33. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 279.39%. The company had revenue of $182.31 million for the quarter. During the same period last year, the firm earned $1.30 earnings per share. Hinge Health's revenue for the quarter was up 47.2% on a year-over-year basis. Sell-side analysts forecast that Hinge Health will post 0.78 EPS for the current year.

Insider Activity at Hinge Health

In other Hinge Health news, President James Pursley sold 15,000 shares of Hinge Health stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $42.26, for a total transaction of $633,900.00. Following the completion of the sale, the president directly owned 732,104 shares in the company, valued at $30,938,715.04. This trade represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel Antonio Perez sold 45,456 shares of Hinge Health stock in a transaction dated 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 sale, the chief executive officer owned 35,470 shares of the company's stock, valued at approximately $1,952,623.50. This represents a 56.17% 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. Insiders have sold 642,670 shares of company stock valued at $29,799,083 in the last ninety days. Insiders own 18.92% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its holdings in shares of Hinge Health by 172.7% in the first quarter. PNC Financial Services Group Inc. now owns 9,898 shares of the company's stock valued at $382,000 after purchasing an additional 6,268 shares in the last quarter. Swiss National Bank grew its holdings in shares of Hinge Health by 8.1% in the first quarter. Swiss National Bank now owns 34,800 shares of the company's stock valued at $1,342,000 after purchasing an additional 2,600 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Hinge Health in the first quarter valued at approximately $292,000. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Hinge Health in the first quarter valued at approximately $7,009,000. Finally, Emerald Advisers LLC acquired a new position in shares of Hinge Health in the first quarter valued at approximately $10,754,000.

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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