Morgan Stanley Issues Positive Forecast for Hinge Health (NYSE:HNGE) Stock Price

Hinge Health (NYSE:HNGE) had its price objective hoisted by Morgan Stanley from $72.00 to $108.00 in a research report issued to clients and investors on Monday, Marketbeat.com reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 21.85% from the company’s current price.

A number of other research analysts have also issued reports on HNGE. Citigroup reissued an “outperform” rating on shares of Hinge Health in a report on Wednesday, May 6th. Wall Street Zen cut shares of Hinge Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 6th. KeyCorp reiterated an “overweight” rating and set a $125.00 price target on shares of Hinge Health in a research note on Monday. Zacks Research upgraded shares of Hinge Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Finally, Royal Bank Of Canada lifted their price objective on Hinge Health from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, June 11th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $80.87.

Hinge Health Stock Performance

Shares of HNGE opened at $88.63 on Monday. Hinge Health has a fifty-two week low of $30.08 and a fifty-two week high of $91.07. The company has a market capitalization of $6.86 billion, a price-to-earnings ratio of -7.18 and a beta of 1.13. The firm has a 50-day simple moving average of $65.37 and a 200-day simple moving average of $50.19.

Hinge Health (NYSE:HNGE) last issued its quarterly 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. The firm had revenue of $182.31 million for 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 was up 47.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.30 EPS. Equities research analysts forecast that Hinge Health will post 1.33 EPS for the current year.

Insider Buying and Selling at Hinge Health

In other news, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of Hinge Health stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $82.83, for a total transaction of $121,484,027.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Daniel Antonio Perez sold 104,544 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $55.09, for a total value of $5,759,328.96. Following the sale, the chief executive officer directly owned 35,470 shares in the company, valued at $1,954,042.30. This trade represents a 74.67% 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 sold 3,954,433 shares of company stock valued at $300,724,532. Corporate insiders own 18.92% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its position in shares of Hinge Health by 3.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,400 shares of the company’s stock worth $362,000 after buying an additional 300 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Hinge Health by 160.0% during the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock valued at $25,000 after acquiring an additional 336 shares in the last quarter. Lazard Asset Management LLC raised its position in Hinge Health by 0.6% during the first quarter. Lazard Asset Management LLC now owns 63,705 shares of the company’s stock worth $2,456,000 after acquiring an additional 386 shares during the last quarter. First Horizon Corp lifted 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 purchasing an additional 531 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Hinge Health in the fourth quarter valued at approximately $26,000.

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.