Brokerages Set Hinge Health Inc. (NYSE:HNGE) PT at $56.73

Shares of Hinge Health Inc. (NYSE:HNGE) have been given a consensus rating of “Moderate Buy” by the nineteen ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $56.7333.

Several equities research analysts have recently commented on the company. Stifel Nicolaus set a $59.00 price target on Hinge Health in a research note on Thursday, February 5th. Royal Bank Of Canada reduced their price objective on Hinge Health from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, February 11th. Needham & Company LLC reissued a “buy” rating and issued a $59.00 target price on shares of Hinge Health in a report on Wednesday, February 11th. Barclays dropped their price target on Hinge Health from $60.00 to $52.00 and set an “overweight” rating for the company in a research report on Wednesday, February 11th. Finally, Canaccord Genuity Group decreased their price objective on shares of Hinge Health from $65.00 to $53.00 and set a “buy” rating on the stock in a research report on Wednesday, February 11th.

Hinge Health Trading Down 6.9%

HNGE stock opened at $38.48 on Friday. The company’s 50-day moving average price is $42.42 and its 200 day moving average price is $48.34. Hinge Health has a 52 week low of $30.08 and a 52 week high of $62.18. The company has a market cap of $3.03 billion and a P/E ratio of -3.00.

Hinge Health declared that its Board of Directors has initiated a stock buyback 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 stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Hinge Health news, President James Pursley sold 15,000 shares of the firm’s stock in a transaction 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 transaction, the president owned 769,778 shares of the company’s stock, valued at approximately $37,257,255.20. This trade represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Insight Holdings Group, Llc sold 1,654,440 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $47.76, for a total value of $79,016,054.40. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,179,931 shares of company stock worth $102,778,274 in the last 90 days.

Institutional Investors Weigh In On Hinge Health

Hedge funds have recently modified their holdings of the company. Lisanti Capital Growth LLC purchased a new stake in shares of Hinge Health during the 2nd quarter worth about $3,089,000. JPMorgan Chase & Co. purchased a new position in Hinge Health in the second quarter valued at approximately $43,840,000. Seven Grand Managers LLC acquired a new position in Hinge Health during the second quarter valued at approximately $12,938,000. Strategic Blueprint LLC purchased a new stake in Hinge Health during the second quarter worth approximately $346,000. Finally, Foresite Capital Management VI LLC acquired a new stake in shares of Hinge Health in the second quarter worth $6,986,000.

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.