Hinge Health (NYSE:HNGE) Price Target Raised to $65.00

Hinge Health (NYSE:HNGE) had its price objective lifted by investment analysts at Canaccord Genuity Group from $63.00 to $65.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 2.87% from the stock’s current price.

A number of other equities analysts also recently weighed in on the stock. Citizens Jmp upped their price target on shares of Hinge Health from $65.00 to $80.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada upped their price target on shares of Hinge Health from $55.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Zacks Research raised shares of Hinge Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Weiss Ratings raised shares of Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 6th. Finally, Evercore reaffirmed an “outperform” rating and issued a $45.00 price objective on shares of Hinge Health in a research note on Wednesday, April 8th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.53.

Hinge Health Stock Performance

Shares of NYSE HNGE traded up $4.52 during trading on Thursday, hitting $63.18. The company had a trading volume of 764,602 shares, compared to its average volume of 1,288,108. The company has a market cap of $4.89 billion and a P/E ratio of -5.11. Hinge Health has a 52 week low of $30.08 and a 52 week high of $63.54. The business’s 50-day moving average is $47.02 and its 200 day moving average is $45.03.

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 the consensus estimate of $0.12 by $0.33. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The company had revenue of $182.31 million for the quarter. During the same period last year, the firm earned $1.30 earnings per share. Hinge Health’s revenue for the quarter was up 47.2% compared to the same quarter last year. On average, research analysts expect that Hinge Health will post 1.21 EPS for the current year.

Insider Transactions at Hinge Health

In related news, CEO Daniel Antonio Perez sold 45,456 shares of Hinge Health stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $55.05, for a total transaction of $2,502,352.80. Following the sale, the chief executive officer directly owned 35,470 shares of the company’s stock, valued at $1,952,623.50. This trade represents a 56.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of Hinge Health stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $60.22, for a total value of $5,018,373.48. Following the sale, the chairman directly owned 83,334 shares in the company, valued at approximately $5,018,373.48. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 671,266 shares of company stock valued at $34,135,371 in the last ninety days. 18.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hinge Health

A number of institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its stake in Hinge Health by 160.0% during the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock worth $25,000 after purchasing an additional 336 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Hinge Health during the fourth quarter worth about $26,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Hinge Health during the third quarter worth about $37,000. CENTRAL TRUST Co bought a new position in Hinge Health during the first quarter worth about $37,000. Finally, First Horizon Corp lifted its stake in 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 period.

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.