Hinge Health (NYSE:HNGE) Price Target Raised to $107.00

Hinge Health (NYSE:HNGE) had its target price lifted by Citizens Jmp from $96.00 to $107.00 in a research note published on Wednesday,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

Several other analysts also recently issued reports on HNGE. Canaccord Genuity Group set a $105.00 price objective on Hinge Health in a research report on Wednesday. Citigroup restated an “outperform” rating on shares of Hinge Health in a report on Monday, July 27th. KeyCorp lifted their target price on shares of Hinge Health from $90.00 to $125.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Barclays boosted their price target on Hinge Health from $97.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Stifel Nicolaus set a $96.00 price objective on Hinge Health in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $98.64.

Hinge Health Stock Performance

Hinge Health stock opened at $89.04 on Wednesday. The company has a market cap of $6.89 billion, a P/E ratio of 69.56 and a beta of 1.30. Hinge Health has a one year low of $30.08 and a one year high of $91.50. The business has a fifty day moving average of $76.22 and a two-hundred day moving average of $54.93.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.31. The business had revenue of $212.82 million during the quarter. Hinge Health had a net margin of 15.15% and a return on equity of 65.44%. The business’s revenue for the quarter was up 53.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 EPS. Sell-side analysts predict that Hinge Health will post 1.37 EPS for the current year.

Insider Buying and Selling at Hinge Health

In related news, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $60.22, for a total transaction of $5,018,373.48. Following the completion of the sale, the chairman directly owned 83,334 shares of the company’s stock, valued at approximately $5,018,373.48. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $82.83, for a total value of $121,484,027.61. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,721,100 shares of company stock worth $288,210,699 in the last 90 days. Company insiders own 18.92% of the company’s stock.

Hedge Funds Weigh In On Hinge Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its holdings in 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 in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Hinge Health in the 4th quarter valued at about $26,000. First Horizon Corp lifted its position in shares of Hinge Health by 163.9% during the fourth quarter. First Horizon Corp now owns 855 shares of the company’s stock worth $40,000 after purchasing an additional 531 shares during the last quarter. CENTRAL TRUST Co bought a new stake in Hinge Health in the first quarter valued at about $37,000. Finally, High Point Wealth Management LLC acquired a new stake in Hinge Health during the fourth quarter valued at approximately $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.