Hinge Health (NYSE:HNGE) Price Target Raised to $97.00

Hinge Health (NYSE:HNGE) had its price target lifted by Needham & Company LLC from $76.00 to $97.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

HNGE has been the subject of several other research reports. Truist Financial boosted their price target on shares of Hinge Health from $79.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Citizens Jmp raised their price objective on Hinge Health from $80.00 to $96.00 and gave the stock a “market outperform” rating in a research note on Monday, July 27th. Royal Bank Of Canada boosted their target price on Hinge Health from $65.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, June 11th. Wall Street Zen downgraded Hinge Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Finally, Stifel Nicolaus raised their price target on Hinge Health from $79.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Hinge Health has a consensus rating of “Moderate Buy” and a consensus target price of $98.64.

Hinge Health Price Performance

Shares of NYSE HNGE opened at $89.04 on Wednesday. The company’s 50 day simple moving average is $76.22 and its 200 day simple moving average is $54.93. Hinge Health has a fifty-two week low of $30.08 and a fifty-two week high of $91.50. The firm has a market capitalization of $6.89 billion, a P/E ratio of 69.56 and a beta of 1.30.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.31. Hinge Health had a return on equity of 65.44% and a net margin of 15.15%.The business had revenue of $212.82 million for the quarter. During the same quarter in the prior year, the business earned $0.59 earnings per share. The firm’s revenue for the quarter was up 53.0% on a year-over-year basis. Sell-side analysts expect that Hinge Health will post 1.37 EPS for the current fiscal year.

Insider Transactions at Hinge Health

In other news, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $82.83, for a total transaction of $121,484,027.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of Hinge Health stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $60.22, for a total value of $5,018,373.48. Following the completion of the sale, the chairman directly owned 83,334 shares in the company, valued at approximately $5,018,373.48. This represents a 50.00% 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. In the last quarter, insiders have sold 3,721,100 shares of company stock valued at $288,210,699. Corporate insiders own 18.92% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Marshall Wace LLP acquired a new stake in Hinge Health in the 2nd quarter valued at $367,000. Sei Investments Co. bought a new position in shares of Hinge Health in the 2nd quarter valued at about $869,000. Squarepoint Ops LLC acquired a new stake in shares of Hinge Health in the second quarter valued at about $19,706,000. Raymond James Financial Inc. acquired a new stake in shares of Hinge Health in the second quarter valued at about $3,258,000. Finally, Sandia Investment Management LP bought a new stake in Hinge Health during the second quarter worth about $657,000.

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.