Hinge Health (NYSE:HNGE) Price Target Raised to $100.00

Hinge Health (NYSE:HNGE) had its price target increased by Canaccord Genuity Group from $76.00 to $100.00 in a research report report published on Tuesday morning, MarketBeat reports. Canaccord Genuity Group currently has a buy rating on the stock.

HNGE has been the topic of a number of other research reports. Zacks Research raised Hinge Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Stifel Nicolaus set a $79.00 price objective on Hinge Health in a research note on Wednesday, June 10th. Raymond James Financial upped their price objective on Hinge Health from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, June 15th. Royal Bank Of Canada increased their target price on Hinge Health from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, June 11th. Finally, Robert W. Baird boosted their target price on Hinge Health from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 17th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.27.

Hinge Health Price Performance

HNGE opened at $76.66 on Tuesday. The company has a market cap of $5.93 billion, a price-to-earnings ratio of -6.21 and a beta of 1.13. The firm has a 50 day simple moving average of $71.14 and a 200 day simple moving average of $52.59. Hinge Health has a fifty-two week low of $30.08 and a fifty-two week 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 (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $182.31 million for the quarter. During the same period in the previous year, the business posted $1.30 earnings per share. Hinge Health’s revenue was up 47.2% compared to the same quarter last year. As a group, analysts expect that Hinge Health will post 1.37 EPS for the current year.

Insider Activity

In other Hinge Health news, CEO Daniel Antonio Perez sold 104,544 shares of Hinge Health stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $55.09, for a total transaction of $5,759,328.96. Following the transaction, the chief executive officer directly owned 35,470 shares in the company, valued at approximately $1,954,042.30. The trade was a 74.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 business’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 sold 3,921,100 shares of company stock valued at $299,222,881 in the last quarter. Company insiders own 18.92% of the company’s stock.

Hedge Funds Weigh In On Hinge Health

Several institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN increased its stake 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 purchasing an additional 336 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Hinge Health in the fourth quarter valued at approximately $26,000. CENTRAL TRUST Co bought a new position in Hinge Health in the first quarter valued at approximately $37,000. First Horizon Corp boosted its holdings in shares of Hinge Health by 163.9% in the fourth quarter. First Horizon Corp now owns 855 shares of the company’s stock valued at $40,000 after buying an additional 531 shares during the period. Finally, High Point Wealth Management LLC acquired a new position in shares of Hinge Health in the fourth quarter valued at approximately $46,000.

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.