Hinge Health (NYSE:HNGE) Price Target Raised to $65.00

Hinge Health (NYSE:HNGE) had its price objective lifted by investment analysts at Canaccord Genuity Group from $63.00 to $65.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 2.87% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Royal Bank Of Canada lifted their target price on shares of Hinge Health from $55.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Stifel Nicolaus lifted their target price on shares of Hinge Health from $59.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Raymond James Financial restated an “outperform” rating and issued a $70.00 price objective on shares of Hinge Health in a research report on Wednesday, May 6th. Zacks Research upgraded shares of Hinge Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Finally, KeyCorp set a $55.00 price objective on shares of Hinge Health in a research report on Wednesday, February 11th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.53.

Hinge Health Price Performance

Shares of NYSE:HNGE traded up $4.52 during trading on Thursday, reaching $63.18. The stock had a trading volume of 764,602 shares, compared to its average volume of 1,288,108. Hinge Health has a 52 week low of $30.08 and a 52 week high of $63.54. The business’s 50-day moving average price is $47.02 and its 200 day moving average price is $45.03. The stock has a market capitalization of $4.89 billion and a PE ratio of -5.11.

Hinge Health (NYSE:HNGE) last posted its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $182.31 million during the quarter. During the same quarter last year, the firm posted $1.30 EPS. The business’s revenue was up 47.2% on a year-over-year basis. Analysts forecast that Hinge Health will post 1.21 EPS for the current year.

Insider Buying and Selling

In related news, CEO Daniel Antonio Perez sold 104,544 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $55.09, for a total value of $5,759,328.96. Following the completion of the transaction, the chief executive officer owned 35,470 shares in the company, valued at $1,954,042.30. The trade was a 74.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President James Pursley sold 16,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $53.79, for a total transaction of $860,640.00. Following the completion of the transaction, the president owned 780,223 shares in the company, valued at $41,968,195.17. This represents a 2.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 671,266 shares of company stock worth $34,135,371 in the last quarter. Insiders own 18.92% of the company’s stock.

Institutional Trading of Hinge Health

Several institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System raised its position in shares of 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 acquiring an additional 4,986 shares during the last quarter. Estuary Capital Management LP bought a new stake in shares of Hinge Health during the 1st quarter valued at $15,201,000. Lazard Asset Management LLC raised its position in shares of Hinge Health by 0.6% during the 1st quarter. Lazard Asset Management LLC now owns 63,705 shares of the company’s stock valued at $2,456,000 after acquiring an additional 386 shares during the last quarter. Entropy Technologies LP raised its position in shares of Hinge Health by 28.1% during the 1st quarter. Entropy Technologies LP now owns 11,749 shares of the company’s stock valued at $453,000 after acquiring an additional 2,579 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Hinge Health by 225.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company’s stock valued at $44,852,000 after acquiring an additional 806,007 shares during the last quarter.

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.