Hinge Health Inc. (NYSE:HNGE) Receives $82.67 Average Target Price from Analysts

Shares of Hinge Health Inc. (NYSE:HNGE) have been assigned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $86.0667.

A number of equities research analysts recently weighed in on the stock. Piper Sandler reissued an “overweight” rating on shares of Hinge Health in a research note on Wednesday, June 10th. Morgan Stanley raised their price target on Hinge Health from $72.00 to $108.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Stifel Nicolaus upped their price objective on Hinge Health from $79.00 to $90.00 and gave the company a “buy” rating in a report on Monday. Weiss Ratings upgraded Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. Finally, Zacks Research upgraded Hinge Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th.

Hinge Health Stock Up 1.0%

Shares of HNGE opened at $75.05 on Tuesday. The stock’s fifty day simple moving average is $71.94 and its 200-day simple moving average is $52.97. The firm has a market capitalization of $5.81 billion, a PE ratio of -6.08 and a beta of 1.13. Hinge Health has a 12-month low of $30.08 and a 12-month high of $91.50.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.33. The firm had revenue of $182.31 million during the quarter. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.The business’s revenue for the quarter was up 47.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.30 earnings per share. Analysts anticipate that Hinge Health will post 1.37 EPS for the current year.

Insiders Place Their Bets

In other news, President James Pursley sold 33,000 shares of Hinge Health stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $69.31, for a total transaction of $2,287,230.00. Following the transaction, the president directly owned 740,897 shares of the company’s stock, valued at $51,351,571.07. This trade represents a 4.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $85.05, for a total value of $7,087,556.70. Following the sale, the chairman directly owned 83,334 shares in the company, valued at $7,087,556.70. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 3,921,100 shares of company stock worth $299,222,881. Company insiders own 18.92% of the company’s stock.

Institutional Trading of Hinge Health

Large investors have recently bought and sold shares of the business. BIT Capital GmbH lifted its stake in Hinge Health by 79.3% in the fourth quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock valued at $154,033,000 after buying an additional 1,466,577 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Hinge Health by 110.5% during the fourth quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company’s stock worth $121,027,000 after acquiring an additional 1,367,693 shares during the period. Tiger Global Management LLC lifted its position in Hinge Health by 227.1% in the 4th quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company’s stock valued at $83,877,000 after acquiring an additional 1,253,743 shares in the last quarter. Marshall Wace LLP bought a new position in Hinge Health during the 4th quarter worth about $54,469,000. Finally, Millennium Management LLC raised its stake in shares of Hinge Health by 225.0% in the 4th quarter. Millennium Management LLC now owns 1,479,642 shares of the company’s stock valued at $68,729,000 after purchasing an additional 1,024,317 shares during the period.

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.