Hinge Health (NYSE:HNGE) Price Target Raised to $80.00

Hinge Health (NYSE:HNGE) had its price objective lifted by Citizens Jmp from $65.00 to $80.00 in a research report sent to investors on Wednesday,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

A number of other equities research analysts have also issued reports on the company. Wall Street Zen lowered Hinge Health from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Freedom Capital raised Hinge Health to a “strong-buy” rating in a research report on Thursday, January 22nd. Needham & Company LLC boosted their price target on Hinge Health from $59.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday. Canaccord Genuity Group boosted their price target on Hinge Health from $53.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $95.00 price target on shares of Hinge Health in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $67.40.

Hinge Health Stock Performance

Shares of Hinge Health stock opened at $55.89 on Wednesday. The business’s 50 day simple moving average is $42.81 and its 200 day simple moving average is $44.00. Hinge Health has a 52-week low of $30.08 and a 52-week high of $62.18. The firm has a market cap of $4.40 billion and a PE ratio of -4.53.

Hinge Health (NYSE:HNGE) last announced its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.33. Hinge Health had a negative return on equity of 279.39% and a negative net margin of 78.95%.The business had revenue of $182.31 million for the quarter. During the same period in the prior year, the business posted $1.30 EPS. The firm’s quarterly revenue was up 47.2% compared to the same quarter last year. As a group, equities research analysts predict that Hinge Health will post 0.78 EPS for the current year.

Insider Buying and Selling

In other Hinge Health news, Chairman Gabriel M.I. Mecklenburg sold 166,666 shares of the business’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $45.32, for a total transaction of $7,553,303.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President James Pursley sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $42.26, for a total value of $633,900.00. Following the transaction, the president directly owned 732,104 shares in the company, valued at $30,938,715.04. The trade was a 2.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 642,670 shares of company stock worth $29,799,083 over the last 90 days. Company insiders own 18.92% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN increased its holdings in shares of Hinge Health by 160.0% during the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock worth $25,000 after acquiring an additional 336 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Hinge Health during the 4th quarter worth approximately $26,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Hinge Health during the 3rd quarter worth approximately $37,000. First Horizon Corp increased its holdings in shares of Hinge Health by 163.9% during the 4th quarter. First Horizon Corp now owns 855 shares of the company’s stock worth $40,000 after acquiring an additional 531 shares during the last quarter. Finally, CENTRAL TRUST Co acquired a new position in shares of Hinge Health during the 1st quarter worth approximately $37,000.

About Hinge Health

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.