Hinge Health (NYSE:HNGE) Price Target Raised to $103.00

Hinge Health (NYSE:HNGE) had its price target hoisted by Wells Fargo & Company from $90.00 to $103.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

HNGE has been the topic of several other research reports. Piper Sandler reissued an “overweight” rating on shares of Hinge Health in a report on Wednesday, June 10th. Stifel Nicolaus set a $96.00 price objective on shares of Hinge Health in a report on Wednesday. Needham & Company LLC lifted their target price on shares of Hinge Health from $76.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday. KeyCorp increased their target price on Hinge Health from $90.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Finally, Royal Bank Of Canada lifted their price target on shares of Hinge Health from $75.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.64.

Hinge Health Stock Performance

NYSE HNGE opened at $89.04 on Wednesday. The firm has a 50-day simple moving average of $76.22 and a 200 day simple moving average of $54.93. Hinge Health has a twelve month low of $30.08 and a twelve month high of $91.50. The stock has a market cap of $6.89 billion, a PE ratio of 69.56 and a beta of 1.30.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.31. The firm had revenue of $212.82 million for the quarter. Hinge Health had a return on equity of 65.44% and a net margin of 15.15%.The company’s revenue was up 53.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 earnings per share. Research analysts forecast that Hinge Health will post 1.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Hinge Health news, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $82.83, for a total value of $121,484,027.61. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $60.22, for a total value of $5,018,373.48. Following the completion of the sale, the chairman directly owned 83,334 shares of the company’s stock, valued at approximately $5,018,373.48. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 3,721,100 shares of company stock worth $288,210,699. 18.92% of the stock is currently owned by company insiders.

Institutional Trading of Hinge Health

A number of large investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC raised its holdings in shares of Hinge Health by 3.3% during the first quarter. Janney Montgomery Scott LLC now owns 9,400 shares of the company’s stock worth $362,000 after acquiring an additional 300 shares during the period. Wells Fargo & Company MN raised its stake in shares of Hinge Health by 160.0% in the 4th 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 period. Lazard Asset Management LLC lifted its holdings in shares of Hinge Health by 0.6% in the first quarter. Lazard Asset Management LLC now owns 63,705 shares of the company’s stock valued at $2,456,000 after purchasing an additional 386 shares in the last quarter. First Horizon Corp boosted its position in shares of 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 buying an additional 531 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Hinge Health during the fourth quarter worth about $26,000.

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.