Citizens Jmp Issues Positive Forecast for Hinge Health (NYSE:HNGE) Stock Price

Hinge Health (NYSE:HNGE) had its price target boosted by analysts at Citizens Jmp from $80.00 to $96.00 in a report released on Monday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. Citizens Jmp’s price target would suggest a potential upside of 29.36% from the stock’s previous close.

A number of other equities analysts have also commented on HNGE. Truist Financial boosted their price objective on Hinge Health from $79.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Wall Street Zen cut Hinge Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Morgan Stanley upped their price target on shares of Hinge Health from $72.00 to $108.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Wells Fargo & Company increased their price objective on shares of Hinge Health from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, June 23rd. Finally, Stifel Nicolaus set a $79.00 price objective on shares of Hinge Health in a research report on Wednesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Hinge Health presently has a consensus rating of “Moderate Buy” and an average price target of $85.33.

Hinge Health Price Performance

Shares of NYSE:HNGE opened at $74.21 on Monday. The stock has a market capitalization of $5.74 billion, a price-to-earnings ratio of -6.01 and a beta of 1.13. The business’s fifty day moving average price is $71.54 and its two-hundred day moving average price is $52.79. Hinge Health has a fifty-two week low of $30.08 and a fifty-two week high of $91.50.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.33. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The firm had revenue of $182.31 million for the quarter. During the same period in the prior year, the company posted $1.30 earnings per share. Hinge Health’s quarterly revenue was up 47.2% compared to the same quarter last year. Research analysts expect that Hinge Health will post 1.37 EPS for the current fiscal 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 dated Wednesday, July 1st. The stock was sold at an average price of $85.05, for a total value of $7,087,556.70. Following the completion of the sale, the chairman directly owned 83,334 shares in the company, valued at $7,087,556.70. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Insight Holdings Group, Llc sold 181,499 shares of Hinge Health stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $90.20, for a total value of $16,371,209.80. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,921,100 shares of company stock worth $299,222,881 over the last 90 days. 18.92% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of HNGE. Janney Montgomery Scott LLC grew its position in shares of Hinge Health by 3.3% during 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 during the period. Wells Fargo & Company MN lifted its holdings 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 buying an additional 336 shares during the period. Lazard Asset Management LLC lifted its holdings in Hinge Health by 0.6% in the first quarter. Lazard Asset Management LLC now owns 63,705 shares of the company’s stock valued at $2,456,000 after buying an additional 386 shares during the period. 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 valued at $40,000 after acquiring an additional 531 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Hinge Health during the 4th quarter worth $26,000.

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.