Hinge Health (NYSE:HNGE) Given New $85.00 Price Target at Truist Financial

Hinge Health (NYSE:HNGE) had its price objective lifted by investment analysts at Truist Financial from $79.00 to $85.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 31.59% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Needham & Company LLC lifted their target price on Hinge Health from $63.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday. Canaccord Genuity Group lifted their target price on Hinge Health from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Wall Street Zen downgraded Hinge Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 6th. Raymond James Financial reissued an “outperform” rating and set a $70.00 price target on shares of Hinge Health in a report on Wednesday, May 6th. Finally, Stifel Nicolaus set a $79.00 price target on Hinge Health in a report on Wednesday. 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 given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $70.80.

Hinge Health Stock Up 4.1%

Shares of NYSE HNGE traded up $2.54 during midday trading on Thursday, hitting $64.60. 546,546 shares of the company’s stock were exchanged, compared to its average volume of 1,326,589. Hinge Health has a 12 month low of $30.08 and a 12 month high of $66.55. The company’s 50 day moving average price is $49.42 and its 200 day moving average price is $45.74. The firm has a market capitalization of $5.00 billion and a PE ratio of -5.25.

Hinge Health (NYSE:HNGE) last issued its earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.12 by $0.33. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.The company had revenue of $182.31 million during the quarter. During the same quarter in the prior year, the firm posted $1.30 earnings per share. The business’s revenue was up 47.2% compared to the same quarter last year. On average, equities research analysts anticipate that Hinge Health will post 1.21 EPS for the current year.

Insider Buying and Selling at Hinge Health

In other news, President James Pursley sold 16,000 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $53.79, for a total transaction of $860,640.00. Following the completion of the transaction, the president owned 780,223 shares of the company’s stock, valued at approximately $41,968,195.17. The trade was a 2.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 business’s stock in a transaction on 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 transaction, the chairman directly owned 83,334 shares of the company’s stock, valued at $5,018,373.48. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 554,600 shares of company stock valued at $29,859,068 in the last three months. Corporate insiders own 18.92% of the company’s stock.

Institutional Investors Weigh In On Hinge Health

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BIT Capital GmbH grew its position in Hinge Health by 79.3% during the 4th quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock worth $154,033,000 after acquiring an additional 1,466,577 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Hinge Health by 110.5% in the 4th quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company’s stock valued at $121,027,000 after buying an additional 1,367,693 shares during the last quarter. Tiger Global Management LLC grew its position in shares of 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 buying an additional 1,253,743 shares during the last quarter. Millennium Management LLC grew its position 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 buying an additional 1,024,317 shares during the last quarter. Finally, Braidwell LP grew its position in shares of Hinge Health by 43.3% in the 4th quarter. Braidwell LP now owns 1,304,623 shares of the company’s stock valued at $60,600,000 after buying an additional 394,147 shares during the last quarter.

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.