Analysts Set Hinge Health Inc. (NYSE:HNGE) Price Target at $59.93

Hinge Health Inc. (NYSE:HNGE) has been assigned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, fifteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $59.9333.

A number of equities analysts recently commented on the company. Weiss Ratings restated a “sell (d)” rating on shares of Hinge Health in a report on Wednesday, October 8th. Morgan Stanley increased their price target on shares of Hinge Health from $57.00 to $67.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 23rd. Barclays raised their price target on shares of Hinge Health from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Stifel Nicolaus upped their price objective on shares of Hinge Health from $63.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, September 11th. Finally, Wall Street Zen lowered Hinge Health from a “buy” rating to a “hold” rating in a report on Sunday, December 28th.

Insider Activity at Hinge Health

In other news, President James Pursley sold 15,000 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $45.57, for a total value of $683,550.00. Following the completion of the sale, the president directly owned 789,902 shares in the company, valued at approximately $35,995,834.14. The trade was a 1.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Insight Holdings Group, Llc sold 1,654,440 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $47.76, for a total transaction of $79,016,054.40. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 2,638,440 shares of company stock valued at $120,486,691.

Institutional Investors Weigh In On Hinge Health

A number of hedge funds have recently bought and sold shares of HNGE. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Hinge Health during the 3rd quarter worth about $37,000. Montag A & Associates Inc. bought a new position in Hinge Health in the 2nd quarter worth approximately $41,000. SBI Securities Co. Ltd. bought a new position in Hinge Health in the 2nd quarter worth approximately $48,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Hinge Health during the third quarter worth approximately $49,000. Finally, Jones Financial Companies Lllp boosted its position in shares of Hinge Health by 348.0% in the third quarter. Jones Financial Companies Lllp now owns 1,120 shares of the company’s stock valued at $54,000 after acquiring an additional 870 shares during the period.

Hinge Health Trading Down 2.0%

HNGE opened at $45.52 on Friday. The stock has a fifty day moving average price of $47.25 and a 200 day moving average price of $49.87. Hinge Health has a 1 year low of $33.42 and a 1 year high of $62.18. The stock has a market cap of $3.58 billion and a price-to-earnings ratio of -3.47.

Hinge Health (NYSE:HNGE) last issued its earnings results 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 firm 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% on a year-over-year basis.

Hinge Health announced that its Board of Directors has initiated a share repurchase program on Wednesday, November 12th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to reacquire up to 7.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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.