Hinge Health (NYSE:HNGE) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Hinge Health (NYSE:HNGE) had its target price raised by Royal Bank Of Canada from $50.00 to $55.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 21.07% from the company’s current price.

Other analysts have also issued reports about the company. Needham & Company LLC reissued a “buy” rating and set a $59.00 price objective on shares of Hinge Health in a report on Wednesday, February 11th. Wells Fargo & Company assumed coverage on Hinge Health in a research report on Thursday, January 8th. They set an “overweight” rating and a $68.00 target price on the stock. Citizens Jmp reiterated a “market outperform” rating and set a $65.00 price target on shares of Hinge Health in a report on Wednesday, February 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Hinge Health in a research report on Thursday, January 22nd. Finally, Evercore set a $50.00 price objective on Hinge Health and gave the company an “outperform” rating in a research note on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.07.

Hinge Health Price Performance

Shares of NYSE HNGE traded down $0.54 during mid-day trading on Wednesday, reaching $45.43. 73,605 shares of the company’s stock traded hands, compared to its average volume of 1,352,631. The stock has a market cap of $3.58 billion and a P/E ratio of -3.55. The business has a 50-day simple moving average of $41.62 and a 200 day simple moving average of $47.34. Hinge Health has a 1-year low of $30.08 and a 1-year high of $62.18.

Hinge Health (NYSE:HNGE) last posted its earnings results on Tuesday, February 10th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.45. The business had revenue of $170.73 million during the quarter, compared to analyst estimates of $157.31 million. The business’s revenue was up 45.5% on a year-over-year basis.

Hinge Health announced that its Board of Directors has approved a share buyback plan on Wednesday, November 12th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to repurchase up to 7.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, President James Pursley sold 15,000 shares of Hinge Health stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $48.40, for a total transaction of $726,000.00. Following the sale, the president directly owned 769,778 shares in the company, valued at $37,257,255.20. The trade was a 1.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO James Budge sold 10,491 shares of the business’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $48.41, for a total transaction of $507,869.31. Following the completion of the transaction, the chief financial officer directly owned 441,174 shares in the company, valued at $21,357,233.34. This trade represents a 2.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 692,157 shares of company stock worth $31,315,523 in the last ninety days.

Institutional Trading of Hinge Health

A number of large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN boosted its stake in Hinge Health by 160.0% in the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock valued at $25,000 after acquiring an additional 336 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Hinge Health during the 4th quarter worth approximately $26,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Hinge Health in the 3rd quarter worth approximately $37,000. First Horizon Corp raised its holdings in shares of Hinge Health by 163.9% in the 4th 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. Finally, Montag A & Associates Inc. purchased a new position in Hinge Health in the second quarter valued at approximately $41,000.

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.