Brokerages Set Hinge Health Inc. (NYSE:HNGE) Price Target at $60.06

Shares of Hinge Health Inc. (NYSE:HNGE) have been assigned an average rating of “Moderate Buy” from the twenty ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $60.0625.

A number of research firms recently issued reports on HNGE. Freedom Capital upgraded Hinge Health to a “strong-buy” rating in a research note on Thursday, January 22nd. Weiss Ratings restated a “sell (d)” rating on shares of Hinge Health in a research report on Thursday, January 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $59.00 target price on shares of Hinge Health in a report on Tuesday, January 6th. Wells Fargo & Company began coverage on shares of Hinge Health in a research note on Thursday, January 8th. They set an “overweight” rating and a $68.00 price target for the company. Finally, Wall Street Zen downgraded shares of Hinge Health from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th.

Hinge Health Price Performance

Shares of HNGE opened at $35.19 on Tuesday. Hinge Health has a 1-year low of $33.42 and a 1-year high of $62.18. The stock has a market cap of $2.77 billion and a PE ratio of -2.68. The firm has a fifty day moving average price of $46.06 and a 200 day moving average price of $49.53.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.18. The firm had revenue of $154.21 million for the quarter, compared to analysts’ expectations of $142.44 million. The firm’s revenue for the quarter was up 53.3% compared to the same quarter last year.

Hinge Health announced that its board has authorized a share repurchase program on Wednesday, November 12th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to purchase up to 7.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, President James Pursley sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $48.40, for a total transaction of $726,000.00. Following the completion of the sale, the president owned 769,778 shares in the company, valued at $37,257,255.20. This represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO James Budge sold 44,589 shares of Hinge Health stock in a transaction on 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 transaction, the chief financial officer owned 479,878 shares in the company, valued at approximately $22,779,808.66. This trade represents a 8.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 2,805,105 shares of company stock valued at $128,216,614.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Mutual Advisors LLC purchased a new stake in Hinge Health in the 4th quarter valued at approximately $6,039,000. Strategic Blueprint LLC lifted its holdings in shares of Hinge Health by 8.0% in the 4th quarter. Strategic Blueprint LLC now owns 12,319 shares of the company’s stock valued at $572,000 after buying an additional 915 shares during the period. R Squared Ltd purchased a new stake in shares of Hinge Health in the fourth quarter valued at approximately $291,000. UBS Group AG grew its holdings in Hinge Health by 168.8% during the fourth quarter. UBS Group AG now owns 356,701 shares of the company’s stock worth $16,569,000 after acquiring an additional 223,980 shares during the period. Finally, High Point Wealth Management LLC purchased a new position in Hinge Health in the fourth quarter worth $46,000.

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.