Hinge Health (NYSE:HNGE) Research Coverage Started at Bank of America

Bank of America initiated coverage on shares of Hinge Health (NYSE:HNGE) in a research report report published on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $110.00 price objective on the stock.

Several other research analysts have also recently commented on the company. Barclays boosted their price target on Hinge Health from $97.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. KeyCorp raised their price objective on Hinge Health from $90.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Morgan Stanley lifted their price objective on Hinge Health from $72.00 to $108.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Truist Financial upped their target price on Hinge Health from $85.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Finally, Robert W. Baird raised their price target on shares of Hinge Health from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Hinge Health has an average rating of “Moderate Buy” and a consensus price target of $105.33.

Hinge Health Price Performance

Hinge Health stock opened at $97.57 on Tuesday. Hinge Health has a 12-month low of $30.08 and a 12-month high of $98.46. The company has a market capitalization of $7.87 billion, a price-to-earnings ratio of 76.23 and a beta of 1.37. The firm’s fifty day moving average price is $88.37 and its 200 day moving average price is $69.08.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.31. The company had revenue of $212.82 million during the quarter. Hinge Health had a net margin of 15.15% and a return on equity of 51.60%. The business’s quarterly revenue was up 53.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.59 earnings per share. Analysts forecast that Hinge Health will post 1.25 earnings per share for the current fiscal year.

Insider Transactions at Hinge Health

In other Hinge Health news, Chairman Gabriel Mecklenburg sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $93.22, for a total transaction of $13,983,000.00. Following the sale, the chairman owned 150,000 shares in the company, valued at $13,983,000. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kristina Leslie sold 1,200 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $88.23, for a total value of $105,876.00. Following the transaction, the director directly owned 30,387 shares in the company, valued at approximately $2,681,045.01. This represents a 3.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,198,932 shares of company stock valued at $108,122,542 over the last 90 days. Corporate insiders own 18.92% of the company’s stock.

Hedge Funds Weigh In On Hinge Health

A number of hedge funds have recently added to or reduced their stakes in HNGE. Tidal Investments LLC bought a new stake in Hinge Health during the second quarter valued at $925,000. Van Hulzen Asset Management LLC lifted its position in shares of Hinge Health by 69.0% in the 2nd quarter. Van Hulzen Asset Management LLC now owns 13,473 shares of the company’s stock worth $1,118,000 after buying an additional 5,500 shares during the last quarter. Engineers Gate Manager LP acquired a new position in shares of Hinge Health in the 2nd quarter valued at about $373,000. IFP Advisors Inc boosted its holdings in shares of Hinge Health by 140.0% in the 2nd quarter. IFP Advisors Inc now owns 324 shares of the company’s stock valued at $27,000 after buying an additional 189 shares during the period. Finally, Arizona State Retirement System bought a new stake in shares of Hinge Health during the 2nd quarter valued at about $876,000.

Hinge Health Company Profile

Hinge Health, Inc is a digital healthcare company focused on musculoskeletal (MSK) conditions, including back and joint pain. The company provides virtual care designed to help members manage pain, improve mobility and avoid or delay more invasive treatments.

Its platform combines a mobile application, motion-sensing technology, personalized exercise therapy, education and support from a care team that may include clinical specialists. Hinge Health offers programs for conditions such as chronic back pain, knee pain and other common MSK issues, with services generally provided through employers, health plans and other healthcare organizations.

Hinge Health was founded in 2015 and is headquartered in San Francisco, California.