Hinge Health Inc. (NYSE:HNGE) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Hinge Health Inc. (NYSE:HNGE) have been assigned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, fourteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $100.5714.

A number of analysts have weighed in on the stock. Barclays raised their target price on shares of Hinge Health from $97.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Stifel Nicolaus set a $96.00 price objective on Hinge Health in a research report on Wednesday, August 5th. Truist Financial upped their target price on Hinge Health from $85.00 to $112.00 and gave the stock a “buy” rating in a report on Monday. Needham & Company LLC increased their target price on Hinge Health from $76.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, Robert W. Baird lifted their price target on Hinge Health from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, June 17th.

Insider Activity at Hinge Health

In other Hinge Health news, President James Pursley sold 33,000 shares of Hinge Health stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $69.31, for a total transaction of $2,287,230.00. Following the transaction, the president directly owned 740,897 shares of the company’s stock, valued at approximately $51,351,571.07. The trade was a 4.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 the company’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $90.20, for a total value of $16,371,209.80. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,715,194 shares of company stock worth $287,886,932 over the last three months. Company insiders own 18.92% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. 11.2 Capital Management LLC bought a new position in shares of Hinge Health during the 2nd quarter worth approximately $204,566,531,000. Summit Creek Advisors LLC bought a new position in shares of Hinge Health in the 2nd quarter worth $4,972,000. Vista Investment Partners LLC acquired a new stake in Hinge Health in the 2nd quarter valued at $3,468,000. Assenagon Asset Management S.A. acquired a new position in shares of Hinge Health during the second quarter valued at about $6,867,000. Finally, California State Teachers Retirement System boosted its stake in Hinge Health by 35.2% during the 1st quarter. California State Teachers Retirement System now owns 19,141 shares of the company’s stock valued at $738,000 after purchasing an additional 4,986 shares during the last quarter.

Hinge Health Price Performance

Shares of NYSE HNGE opened at $88.18 on Friday. The business has a fifty day moving average price of $78.98 and a two-hundred day moving average price of $56.55. The stock has a market capitalization of $6.82 billion, a PE ratio of 68.89 and a beta of 1.30. Hinge Health has a fifty-two week low of $30.08 and a fifty-two week high of $93.13.

Hinge Health (NYSE:HNGE) last issued its earnings results on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.28 by $0.31. Hinge Health had a net margin of 15.15% and a return on equity of 51.60%. The company had revenue of $212.82 million during the quarter. During the same quarter in the previous year, the firm posted $0.59 earnings per share. Hinge Health’s quarterly revenue was up 53.0% compared to the same quarter last year. On average, equities analysts expect that Hinge Health will post 1.25 EPS for the current year.

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.