Hinge Health (NYSE:HNGE) Price Target Raised to $90.00

Hinge Health (NYSE:HNGE) had its price objective increased by Robert W. Baird from $85.00 to $90.00 in a report issued on Tuesday morning, MarketBeat reports. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Citizens Jmp lifted their price target on shares of Hinge Health from $96.00 to $107.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Hinge Health in a report on Monday, August 3rd. Barclays lifted their target price on shares of Hinge Health from $97.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Citigroup reissued an “outperform” rating on shares of Hinge Health in a research report on Monday, July 27th. Finally, Canaccord Genuity Group set a $105.00 price target on Hinge Health in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.71.

Hinge Health Trading Down 0.2%

NYSE HNGE opened at $92.13 on Tuesday. The stock has a fifty day simple moving average of $87.10 and a 200-day simple moving average of $67.31. The stock has a market cap of $7.43 billion, a PE ratio of 71.98 and a beta of 1.38. Hinge Health has a twelve month low of $30.08 and a twelve month high of $96.66.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings data 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. Hinge Health had a net margin of 15.15% and a return on equity of 51.60%. The firm had revenue of $212.82 million for the quarter. During the same quarter last year, the firm posted $0.59 earnings per share. The firm’s quarterly revenue was up 53.0% on a year-over-year basis. Research analysts predict that Hinge Health will post 1.25 EPS for the current year.

Insider Buying and Selling at Hinge Health

In related news, CFO James Budge sold 55,561 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $89.45, for a total transaction of $4,969,931.45. Following the sale, the chief financial officer directly owned 349,062 shares of the company’s stock, valued at $31,223,595.90. This represents a 13.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President James Pursley sold 33,000 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $94.14, for a total transaction of $3,106,620.00. Following the sale, the president directly owned 666,909 shares in the company, valued at approximately $62,782,813.26. The trade was a 4.71% 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 have sold 2,748,933 shares of company stock valued at $236,694,126. Corporate insiders own 18.92% of the company’s stock.

Hedge Funds Weigh In On Hinge Health

Institutional investors have recently modified their holdings of the business. Tidal Investments LLC purchased a new stake in shares of Hinge Health during the second quarter worth $925,000. Van Hulzen Asset Management LLC boosted its holdings in Hinge Health by 69.0% in the second quarter. Van Hulzen Asset Management LLC now owns 13,473 shares of the company’s stock valued at $1,118,000 after purchasing an additional 5,500 shares during the period. Engineers Gate Manager LP acquired a new position in Hinge Health during the 2nd quarter worth $373,000. IFP Advisors Inc grew its position in shares of Hinge Health by 140.0% during the second quarter. IFP Advisors Inc now owns 324 shares of the company’s stock worth $27,000 after buying an additional 189 shares in the last quarter. Finally, Arizona State Retirement System acquired a new position in Hinge Health during the 2nd quarter worth approximately $876,000.

Hinge Health Company Profile

Hinge Health, Inc is a digital health company focused on musculoskeletal care. The company provides virtual programs designed to help people manage and improve conditions affecting the back, joints and other areas of the musculoskeletal system, with the goal of supporting conservative care and reducing the need for more invasive treatment.

Its platform combines personalized exercise therapy, digital tools, clinical guidance and behavioral support. Depending on the program, members may use the Hinge Health mobile application, wearable motion sensors and remote care from physical therapists, health coaches and other clinicians.