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

Hinge Health (NYSE:HNGE) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Several other analysts have also recently commented on HNGE. Robert W. Baird started coverage on Hinge Health in a research report on Friday, September 5th. They issued a “neutral” rating and a $56.00 target price on the stock. Barclays increased their price target on Hinge Health from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Morgan Stanley raised their price target on Hinge Health from $57.00 to $67.00 and gave the company an “overweight” rating in a report on Tuesday, September 23rd. Evercore ISI upped their price objective on shares of Hinge Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. Finally, Stifel Nicolaus increased their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $59.93.

Hinge Health Stock Performance

Shares of NYSE:HNGE opened at $50.08 on Friday. The firm has a 50-day moving average price of $48.22. Hinge Health has a fifty-two week low of $33.42 and a fifty-two week high of $62.18.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.18. The firm had revenue of $154.21 million during the quarter, compared to analyst estimates of $142.44 million. The business’s quarterly revenue was up 53.3% compared to the same quarter last year.

Hinge Health announced that its Board of Directors has authorized a stock buyback plan on Wednesday, November 12th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to reacquire up to 7.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, Director Kristina M. Leslie sold 3,813 shares of Hinge Health stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $43.60, for a total transaction of $166,246.80. Following the transaction, the director directly owned 29,000 shares of the company’s stock, valued at $1,264,400. The trade was a 11.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James Budge sold 44,589 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $47.47, for a total transaction of $2,116,639.83. Following the completion of the sale, the chief financial officer directly owned 479,878 shares of the company’s stock, valued at $22,779,808.66. The trade was a 8.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,446,279 shares of company stock valued at $111,164,327 over the last quarter.

Institutional Trading of Hinge Health

Hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Hinge Health in the third quarter worth approximately $37,000. Montag A & Associates Inc. acquired a new stake in Hinge Health during the 2nd quarter valued at $41,000. SBI Securities Co. Ltd. purchased a new stake in shares of Hinge Health in the second quarter valued at $48,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Hinge Health in the third quarter worth $49,000. Finally, Jones Financial Companies Lllp boosted its position in shares of Hinge Health by 348.0% in the third quarter. Jones Financial Companies Lllp now owns 1,120 shares of the company’s stock worth $54,000 after buying an additional 870 shares during the period.

About Hinge Health

Our vision is to build a new health system that transforms outcomes, experience and costs by using technology to scale and automate the delivery of care. Hinge Health leverages software, including AI, to largely automate care for joint and muscle health, delivering an outstanding member experience, improved member outcomes, and cost reductions for our clients.