Analysts Set Hinge Health Inc. (NYSE:HNGE) Price Target at $82.67

Shares of Hinge Health Inc. (NYSE:HNGE) have been given a consensus recommendation of “Moderate Buy” by the nineteen research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $84.2667.

A number of brokerages have commented on HNGE. Canaccord Genuity Group upped their price target on Hinge Health from $76.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday. Zacks Research raised Hinge Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Piper Sandler reiterated an “overweight” rating on shares of Hinge Health in a research note on Wednesday, June 10th. Morgan Stanley increased their target price on shares of Hinge Health from $72.00 to $108.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Finally, Citigroup restated an “outperform” rating on shares of Hinge Health in a research note on Wednesday, May 6th.

Hinge Health Price Performance

Shares of Hinge Health stock opened at $76.66 on Tuesday. Hinge Health has a 1-year low of $30.08 and a 1-year high of $91.50. The company’s fifty day simple moving average is $71.14 and its 200-day simple moving average is $52.59. The stock has a market capitalization of $5.93 billion, a PE ratio of -6.21 and a beta of 1.13.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 EPS 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 company’s revenue for the quarter was up 47.2% on a year-over-year basis. During the same quarter last year, the company earned $1.30 earnings per share. As a group, research analysts anticipate that Hinge Health will post 1.37 EPS for the current year.

Insider Transactions at Hinge Health

In related news, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of Hinge Health stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $85.05, for a total transaction of $7,087,556.70. Following the transaction, the chairman owned 83,334 shares in the company, valued at approximately $7,087,556.70. The trade was a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President James Pursley sold 33,000 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $69.31, for a total transaction of $2,287,230.00. Following the completion of the transaction, the president directly owned 740,897 shares of the company’s stock, valued at $51,351,571.07. This represents a 4.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,921,100 shares of company stock valued at $299,222,881 over the last three months. Corporate insiders own 18.92% of the company’s stock.

Hedge Funds Weigh In On Hinge Health

A number of hedge funds have recently made changes to their positions in the business. Janney Montgomery Scott LLC grew its holdings in Hinge Health by 3.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,400 shares of the company’s stock valued at $362,000 after buying an additional 300 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Hinge Health by 160.0% in the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock worth $25,000 after buying an additional 336 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of Hinge Health by 0.6% in the first quarter. Lazard Asset Management LLC now owns 63,705 shares of the company’s stock worth $2,456,000 after buying an additional 386 shares in the last quarter. First Horizon Corp boosted its position in shares of Hinge Health by 163.9% during the fourth quarter. First Horizon Corp now owns 855 shares of the company’s stock worth $40,000 after acquiring an additional 531 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Hinge Health during the fourth quarter valued at $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.