Brokerages Set Hinge Health Inc. (NYSE:HNGE) PT at $75.80

Shares of Hinge Health Inc. (NYSE:HNGE) have been assigned an average rating of “Moderate Buy” from the nineteen ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $75.80.

A number of research firms have weighed in on HNGE. Wells Fargo & Company lifted their price objective on shares of Hinge Health from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, June 23rd. Royal Bank Of Canada boosted their target price on shares of Hinge Health from $65.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, June 11th. Wall Street Zen cut shares of Hinge Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 6th. Raymond James Financial boosted their target price on shares of Hinge Health from $70.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, June 15th. Finally, Robert W. Baird boosted their target price on shares of Hinge Health from $55.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 17th.

Hinge Health Price Performance

Shares of Hinge Health stock opened at $83.37 on Friday. The firm has a fifty day moving average price of $58.49 and a 200 day moving average price of $48.00. Hinge Health has a 1 year low of $30.08 and a 1 year high of $84.62. The stock has a market cap of $6.45 billion and a PE ratio of -6.76.

Hinge Health (NYSE:HNGE) last issued its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.33. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The firm had revenue of $182.31 million during the quarter. During the same period last year, the business earned $1.30 EPS. The company’s revenue for the quarter was up 47.2% on a year-over-year basis. As a group, equities analysts expect that Hinge Health will post 1.33 EPS for the current year.

Insider Transactions at Hinge Health

In other news, President James Pursley sold 33,000 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $69.31, for a total transaction of $2,287,230.00. Following the completion of the sale, the president owned 740,897 shares of the company’s stock, valued at $51,351,571.07. The trade was a 4.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Gabriel M.I. Mecklenburg sold 50,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $65.54, for a total transaction of $3,277,000.00. Following the sale, the chairman directly owned 50,000 shares of the company’s stock, valued at $3,277,000. 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. Insiders sold 3,444,928 shares of company stock valued at $255,189,011 over the last 90 days. Corporate insiders own 18.92% of the company’s stock.

Hedge Funds Weigh In On Hinge Health

Institutional investors and hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN boosted its position in Hinge Health by 160.0% during the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock worth $25,000 after acquiring an additional 336 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Hinge Health during the fourth quarter worth about $26,000. CENTRAL TRUST Co acquired a new position in Hinge Health during the first quarter worth about $37,000. First Horizon Corp boosted its position in Hinge Health by 163.9% during the fourth quarter. First Horizon Corp now owns 855 shares of the company’s stock worth $40,000 after acquiring an additional 531 shares during the last quarter. Finally, High Point Wealth Management LLC acquired a new position in Hinge Health during the fourth quarter worth about $46,000.

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.