Hinge Health (NYSE:HNGE) Price Target Raised to $96.00

Hinge Health (NYSE:HNGE) had its price target increased by Citizens Jmp from $80.00 to $96.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a market outperform rating on the stock.

HNGE has been the subject of a number of other research reports. Stifel Nicolaus set a $79.00 target price on shares of Hinge Health in a research note on Wednesday, June 10th. Raymond James Financial upped their price target on shares of Hinge Health from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, June 15th. Wall Street Zen cut shares of Hinge Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Royal Bank Of Canada raised their price objective on shares of Hinge Health from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, June 11th. Finally, Truist Financial boosted their price objective on Hinge Health from $79.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Hinge Health has a consensus rating of “Moderate Buy” and a consensus target price of $86.07.

Hinge Health Trading Down 1.3%

HNGE opened at $74.26 on Monday. The stock’s fifty day simple moving average is $72.75 and its 200 day simple moving average is $53.33. Hinge Health has a 1-year low of $30.08 and a 1-year high of $91.50. The stock has a market cap of $5.75 billion, a PE ratio of -6.02 and a beta of 1.13.

Hinge Health (NYSE:HNGE) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, topping 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 firm had revenue of $182.31 million during the quarter. During the same period last year, the firm earned $1.30 earnings per share. The company’s revenue for the quarter was up 47.2% compared to the same quarter last year. Equities analysts forecast that Hinge Health will post 1.37 earnings per share for the current year.

Insider Activity at Hinge Health

In other Hinge Health news, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of Hinge Health 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 owned 83,334 shares in the company, valued at $5,018,373.48. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Antonio Perez sold 104,544 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $55.09, for a total transaction of $5,759,328.96. Following the completion of the sale, the chief executive officer directly owned 35,470 shares of the company’s stock, valued at $1,954,042.30. This represents a 74.67% 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. Over the last three months, insiders have sold 3,921,100 shares of company stock worth $299,222,881. Corporate insiders own 18.92% of the company’s stock.

Institutional Investors Weigh In On Hinge Health

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN boosted its stake in shares of Hinge Health by 160.0% in the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock valued at $25,000 after buying an additional 336 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Hinge Health during the 4th quarter worth $26,000. CENTRAL TRUST Co bought a new position in Hinge Health during the 1st quarter worth $37,000. First Horizon Corp raised its holdings in Hinge Health by 163.9% in the 4th quarter. First Horizon Corp now owns 855 shares of the company’s stock valued at $40,000 after acquiring an additional 531 shares in the last quarter. Finally, High Point Wealth Management LLC acquired a new position in Hinge Health in the 4th quarter valued at $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.