Robert W. Baird Issues Positive Forecast for Hinge Health (NYSE:HNGE) Stock Price

Hinge Health (NYSE:HNGE) had its price target boosted by stock analysts at Robert W. Baird from $55.00 to $65.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price objective suggests a potential downside of 4.29% from the company’s current price.

Several other brokerages also recently weighed in on HNGE. Wells Fargo & Company increased their price target on Hinge Health from $68.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Citigroup reaffirmed an “outperform” rating on shares of Hinge Health in a report on Wednesday, May 6th. Needham & Company LLC increased their price target on Hinge Health from $63.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Barclays increased their price target on Hinge Health from $62.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, June 11th. Finally, Zacks Research raised Hinge Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Hinge Health presently has an average rating of “Moderate Buy” and an average price target of $75.13.

Hinge Health Price Performance

Shares of NYSE HNGE opened at $67.91 on Wednesday. The stock has a fifty day moving average price of $51.65 and a 200 day moving average price of $46.27. Hinge Health has a 1-year low of $30.08 and a 1-year high of $70.72. The company has a market cap of $5.26 billion and a PE ratio of -5.50.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings results 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 return on equity of 310.62% and a negative net margin of 78.95%.The firm had revenue of $182.31 million during the quarter. During the same period in the prior year, the business earned $1.30 earnings per share. Hinge Health’s revenue for the quarter was up 47.2% compared to the same quarter last year. Analysts anticipate that Hinge Health will post 1.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Hinge Health news, President James Pursley sold 16,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $53.79, for a total value of $860,640.00. Following the completion of the transaction, the president owned 780,223 shares in the company, valued at approximately $41,968,195.17. This represents a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $60.22, for a total value of $5,018,373.48. Following the completion of the transaction, the chairman owned 83,334 shares of the company’s stock, valued at $5,018,373.48. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 554,600 shares of company stock worth $29,859,068. 18.92% of the stock is owned by corporate insiders.

Institutional Trading of Hinge Health

Large investors have recently bought and sold shares of the company. Wells Fargo & Company MN grew 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 purchasing an additional 336 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Hinge Health in the fourth quarter valued at $26,000. First Horizon Corp grew its holdings 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 purchasing an additional 531 shares during the last quarter. CENTRAL TRUST Co acquired a new stake in Hinge Health in the first quarter valued at $37,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Hinge Health in the third quarter valued at $49,000.

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.