Hinge Health (NYSE:HNGE) Stock Rating Upgraded by Wells Fargo & Company

by · The Markets Daily

Hinge Health (NYSE:HNGE – Get Free Report) was upgraded by analysts at Wells Fargo & Company to a “strong-buy” rating in a report released on Thursday, MarketBeat.com reports.

A number of other equities analysts have also recently issued reports on the stock. KeyCorp reduced their price objective on shares of Hinge Health from $72.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday. Morgan Stanley lifted their price target on Hinge Health from $57.00 to $67.00 and gave the company an “overweight” rating in a research note on Tuesday, September 23rd. Weiss Ratings reissued a “sell (d)” rating on shares of Hinge Health in a research report on Wednesday, October 8th. Piper Sandler reduced their price target on Hinge Health from $71.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Stifel Nicolaus lifted their price objective on shares of Hinge Health from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.06.

View Our Latest Stock Analysis on HNGE

Hinge Health Price Performance

Shares of HNGE stock opened at $48.01 on Thursday. Hinge Health has a one year low of $33.42 and a one year high of $62.18. The firm has a market cap of $3.78 billion and a price-to-earnings ratio of -3.66. The stock’s fifty day simple moving average is $47.11 and its 200 day simple moving average is $49.99.

Hinge Health (NYSE:HNGE – Get Free Report) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.18. The business had revenue of $154.21 million for the quarter, compared to the consensus estimate of $142.44 million. The business’s revenue was up 53.3% on a year-over-year basis.

Hinge Health announced that its board has approved a stock repurchase program on Wednesday, November 12th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 7.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Hinge Health

In other Hinge Health news, major shareholder Insight Holdings Group, Llc sold 1,654,440 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $47.76, for a total transaction of $79,016,054.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President James Pursley sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $48.40, for a total value of $726,000.00. Following the completion of the transaction, the president directly owned 769,778 shares in the company, valued at approximately $37,257,255.20. This trade represents a 1.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,805,105 shares of company stock valued at $128,216,614 over the last ninety days.

Hedge Funds Weigh In On Hinge Health

Several institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Hinge Health in the third quarter worth about $37,000. Montag A & Associates Inc. bought a new stake in shares of Hinge Health during the 2nd quarter worth $41,000. SBI Securities Co. Ltd. purchased a new position in shares of Hinge Health in the 2nd quarter worth about $48,000. Aster Capital Management DIFC Ltd purchased a new stake in Hinge Health in the third quarter worth approximately $49,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of Hinge Health by 348.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,120 shares of the company’s stock valued at $54,000 after purchasing an additional 870 shares in the last quarter.

Hinge Health Company Profile

(Get Free Report)

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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