Hinge Health Inc. (NYSE:HNGE) Receives $59.93 Average PT from Analysts

Shares of Hinge Health Inc. (NYSE:HNGE) have been assigned a consensus recommendation of “Moderate Buy” from the twenty research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, sixteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $60.75.

HNGE has been the topic of several research analyst reports. Evercore ISI boosted their price target on Hinge Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Wells Fargo & Company set a $68.00 target price on Hinge Health and gave the company an “overweight” rating in a research report on Thursday. Piper Sandler reissued an “overweight” rating and set a $71.00 price target (up from $70.00) on shares of Hinge Health in a research report on Wednesday, November 5th. Morgan Stanley upped their price objective on shares of Hinge Health from $57.00 to $67.00 and gave the company an “overweight” rating in a report on Tuesday, September 23rd. Finally, Stifel Nicolaus increased their price objective on shares of Hinge Health from $63.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, September 11th.

Hinge Health Trading Up 0.5%

Shares of Hinge Health stock opened at $49.40 on Friday. The firm’s 50 day simple moving average is $47.15 and its two-hundred day simple moving average is $49.96. The firm has a market capitalization of $3.89 billion and a price-to-earnings ratio of -3.77. Hinge Health has a 12-month low of $33.42 and a 12-month high of $62.18.

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

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

Insider Buying and Selling at Hinge Health

In other news, CEO Daniel Antonio Perez sold 166,670 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $48.53, for a total value of $8,088,495.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Insight Holdings Group, Llc sold 1,654,440 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $47.76, for a total value of $79,016,054.40. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 2,805,105 shares of company stock worth $128,216,614.

Hedge Funds Weigh In On Hinge Health

Several large investors have recently made changes to their positions in HNGE. BIT Capital GmbH boosted its holdings in Hinge Health by 144.6% during the third quarter. BIT Capital GmbH now owns 1,849,524 shares of the company’s stock worth $90,775,000 after buying an additional 1,093,320 shares in the last quarter. Bamco Inc. NY acquired a new position in shares of Hinge Health in the second quarter worth about $48,943,000. Braidwell LP purchased a new stake in shares of Hinge Health during the 3rd quarter worth about $44,686,000. JPMorgan Chase & Co. acquired a new stake in shares of Hinge Health during the 2nd quarter valued at about $43,840,000. Finally, Franklin Resources Inc. purchased a new position in shares of Hinge Health in the 2nd quarter valued at about $28,462,000.

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.