Hinge Health Inc. (NYSE:HNGE) Stock Has Consensus Target Price of $105.33 According to Brokerages

Hinge Health Inc. (NYSE:HNGE) has been given a consensus rating of “Moderate Buy” by the nineteen brokerages that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $105.33.

Several analysts have recently weighed in on HNGE shares. Robert W. Baird raised their target price on Hinge Health from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, September 22nd. Truist Financial lifted their target price on Hinge Health from $85.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Needham & Company LLC boosted their price target on Hinge Health from $97.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, September 30th. Citizens Jmp increased their price target on Hinge Health from $96.00 to $107.00 and gave the company a “market outperform” rating in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada raised their price objective on Hinge Health from $75.00 to $110.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th.

Hinge Health Trading Up 4.9%

Shares of HNGE stock opened at $102.82 on Friday. The firm has a fifty day simple moving average of $91.24 and a 200-day simple moving average of $71.21. The company has a market capitalization of $8.30 billion, a PE ratio of 80.33 and a beta of 1.37. Hinge Health has a twelve month low of $30.08 and a twelve month high of $103.28.

Hinge Health (NYSE:HNGE) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, topping 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 period last year, the firm earned $0.59 EPS. The business’s quarterly revenue was up 53.0% on a year-over-year basis. Equities research analysts predict that Hinge Health will post 1.25 EPS for the current year.

Insider Buying and Selling

In related news, CFO James Budge sold 55,561 shares of Hinge Health stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $89.45, for a total value of $4,969,931.45. Following the completion of the sale, the chief financial officer owned 349,062 shares in the company, valued at approximately $31,223,595.90. The trade was a 13.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kristina M. Leslie sold 1,200 shares of Hinge Health stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $88.23, for a total transaction of $105,876.00. Following the completion of the sale, the director owned 30,387 shares of the company’s stock, valued at approximately $2,681,045.01. This trade represents a 3.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 776,861 shares of company stock worth $70,085,397 over the last 90 days. 18.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HNGE. BIT Capital GmbH increased its position in shares of Hinge Health by 79.3% in the 4th quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock worth $154,033,000 after purchasing an additional 1,466,577 shares during the last quarter. 11.2 Capital Management LLC bought a new position in shares of Hinge Health during the second quarter worth about $204,566,531. Wellington Management Group LLP lifted its position in shares of Hinge Health by 169.7% during the second quarter. Wellington Management Group LLP now owns 1,205,584 shares of the company’s stock worth $100,063,000 after purchasing an additional 758,594 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Hinge Health by 225.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company’s stock worth $44,852,000 after purchasing an additional 806,007 shares during the last quarter. Finally, Alkeon Capital Management LLC grew its stake in Hinge Health by 110.4% in the fourth quarter. Alkeon Capital Management LLC now owns 791,104 shares of the company’s stock worth $36,747,000 after purchasing an additional 415,093 shares in the last quarter.

About Hinge Health

Hinge Health, Inc is a digital healthcare company focused on musculoskeletal (MSK) conditions, including back and joint pain. The company provides virtual care designed to help members manage pain, improve mobility and avoid or delay more invasive treatments.

Its platform combines a mobile application, motion-sensing technology, personalized exercise therapy, education and support from a care team that may include clinical specialists. Hinge Health offers programs for conditions such as chronic back pain, knee pain and other common MSK issues, with services generally provided through employers, health plans and other healthcare organizations.

Hinge Health was founded in 2015 and is headquartered in San Francisco, California.