Hinge Health (NYSE:HNGE) Price Target Raised to $131.00

Hinge Health (NYSE:HNGE) had its target price hoisted by Morgan Stanley from $117.00 to $131.00 in a research report report published on Tuesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Other equities research analysts also recently issued reports about the company. Citigroup reissued an “outperform” rating on shares of Hinge Health in a report on Monday, July 27th. Evercore restated an “outperform” rating and set a $105.00 price target on shares of Hinge Health in a report on Wednesday, August 5th. Zacks Research downgraded Hinge Health from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Stifel Nicolaus lifted their price target on Hinge Health from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Robert W. Baird upped their price target on shares of Hinge Health from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.93.

Hinge Health Stock Down 4.1%

Shares of HNGE opened at $115.86 on Tuesday. The stock has a market cap of $9.35 billion, a P/E ratio of 65.69, a P/E/G ratio of 2.12 and a beta of 1.19. The business’s 50 day moving average price is $100.34 and its 200-day moving average price is $68.46. Hinge Health has a 52 week low of $30.08 and a 52 week high of $124.94.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings data on Monday, November 2nd. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.44. Hinge Health had a return on equity of 73.91% and a net margin of 21.02%. The company had revenue of $234.97 million during the quarter. During the same period last year, the business earned ($0.02) EPS. The firm’s quarterly revenue was up 52.4% on a year-over-year basis. On average, equities analysts anticipate that Hinge Health will post 1.25 EPS for the current year.

Insider Activity

In related news, CEO Daniel Perez sold 4,100 shares of the firm’s stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $100.20, for a total transaction of $410,820.00. Following the completion of the sale, the chief executive officer owned 4,100 shares of the company’s stock, valued at $410,820. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Gabriel Mecklenburg sold 200,000 shares of the firm’s stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $103.13, for a total transaction of $20,626,000.00. Following the sale, the chairman directly owned 200,000 shares of the company’s stock, valued at $20,626,000. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 1,024,581 shares of company stock worth $95,632,761. Corporate insiders own 18.92% of the company’s stock.

Institutional Trading of Hinge Health

Institutional investors and hedge funds have recently modified their holdings of the business. IFP Advisors Inc raised its stake in shares of Hinge Health by 140.0% in the second quarter. IFP Advisors Inc now owns 324 shares of the company’s stock worth $27,000 after purchasing an additional 189 shares during the last quarter. Nykredit A S bought a new position in shares of Hinge Health during the second quarter valued at $29,000. SBI Securities Co. Ltd. lifted its holdings in shares of Hinge Health by 39.5% during the third quarter. SBI Securities Co. Ltd. now owns 364 shares of the company’s stock valued at $35,000 after purchasing an additional 103 shares in the last quarter. State of Wyoming purchased a new stake in shares of Hinge Health during the first quarter valued at $110,000. Finally, Sterling Capital Management LLC boosted its position in shares of Hinge Health by 899.3% during the third quarter. Sterling Capital Management LLC now owns 1,469 shares of the company’s stock valued at $143,000 after buying an additional 1,322 shares during the last quarter.

Hinge Health Company Profile

Hinge Health is a digital healthcare company focused on musculoskeletal (MSK) conditions, including back and joint pain. The company provides virtual care programs designed to help members manage pain, improve mobility and reduce the need for more costly or invasive treatments.

Its platform combines personalized exercise therapy, behavioral support, education and access to clinical professionals. Hinge Health also uses technologies such as motion-sensing wearable devices and artificial intelligence to help guide exercises, monitor progress and tailor care plans to individual needs.

Hinge Health primarily serves employers and health plans, which offer its programs to eligible members in the United States.