Brokerages Set Hinge Health Inc. (NYSE:HNGE) PT at $60.06

Shares of Hinge Health Inc. (NYSE:HNGE) have earned a consensus rating of “Moderate Buy” from the twenty analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, sixteen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $60.0625.

Several brokerages have recently issued reports on HNGE. Barclays lowered their price target on Hinge Health from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, January 5th. KeyCorp decreased their target price on shares of Hinge Health from $72.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, January 8th. Evercore ISI lifted their price target on Hinge Health from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Hinge Health from a “buy” rating to a “hold” rating in a research report on Sunday, December 28th. Finally, Canaccord Genuity Group boosted their target price on Hinge Health from $61.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th.

Hinge Health Price Performance

HNGE opened at $34.83 on Tuesday. Hinge Health has a 12 month low of $33.42 and a 12 month high of $62.18. The stock’s 50 day moving average price is $46.30 and its 200 day moving average price is $49.59. The stock has a market cap of $2.74 billion and a P/E ratio of -2.65.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.18. The company had revenue of $154.21 million during the quarter, compared to analyst estimates of $142.44 million. The firm’s quarterly revenue was up 53.3% compared to the same quarter last year.

Hinge Health declared that its board has approved a stock buyback program on Wednesday, November 12th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 7.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Hinge Health

In other news, major shareholder Insight Holdings Group, Llc sold 1,654,440 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $47.76, for a total transaction of $79,016,054.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President James Pursley sold 15,000 shares of the company’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $48.40, for a total transaction of $726,000.00. Following the transaction, the president owned 769,778 shares of the company’s stock, valued at approximately $37,257,255.20. The trade was a 1.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 2,805,105 shares of company stock valued at $128,216,614.

Hedge Funds Weigh In On Hinge Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Hinge Health during the third quarter valued at approximately $37,000. Montag A & Associates Inc. bought a new position in shares of Hinge Health in the second quarter valued at approximately $41,000. First Horizon Corp boosted its stake in Hinge Health by 163.9% in the fourth quarter. First Horizon Corp now owns 855 shares of the company’s stock worth $40,000 after purchasing an additional 531 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Hinge Health during the 2nd quarter worth about $48,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Hinge Health during the third quarter worth approximately $49,000.

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.