Hinge Health (NYSE:HNGE) Price Target Raised to $135.00

Hinge Health (NYSE:HNGE) had its target price lifted by Royal Bank Of Canada from $110.00 to $135.00 in a research note published on Tuesday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

HNGE has been the topic of a number of other research reports. Citizens Jmp raised their price target on shares of Hinge Health from $96.00 to $107.00 and gave the company a “market outperform” rating in a report on Wednesday, August 5th. Bank of America started coverage on shares of Hinge Health in a report on Tuesday, September 29th. They issued a “buy” rating and a $110.00 price objective for the company. Evercore reiterated an “outperform” rating and issued a $105.00 price objective on shares of Hinge Health in a report on Wednesday, August 5th. Needham & Company LLC increased their target price on shares of Hinge Health from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Wells Fargo & Company raised their target price on Hinge Health from $103.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.93.

Hinge Health Stock Down 4.1%

NYSE HNGE opened at $115.86 on Tuesday. The stock has a market capitalization of $9.35 billion, a PE ratio of 65.69, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19. The company has a 50 day moving average price of $100.34 and a two-hundred day moving average price of $68.46. Hinge Health has a 12-month low of $30.08 and a 12-month high of $124.94.

Hinge Health (NYSE:HNGE) last posted its earnings results on Monday, November 2nd. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.27 by $0.44. Hinge Health had a net margin of 21.02% and a return on equity of 73.91%. The company had revenue of $234.97 million during the quarter. During the same period in the prior year, the firm earned ($0.02) earnings per share. The business’s revenue was up 52.4% on a year-over-year basis. As a group, equities analysts anticipate that Hinge Health will post 1.25 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Daniel Perez sold 150,000 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $89.44, for a total transaction of $13,416,000.00. Following the completion of the sale, the chief executive officer owned 35,470 shares in the company, valued at $3,172,436.80. This represents a 80.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Gabriel Mecklenburg sold 250,000 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $88.97, for a total value of $22,242,500.00. Following the completion of the sale, the chairman directly owned 250,000 shares in the company, valued at $22,242,500. This trade represents a 50.00% 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. Insiders sold a total of 1,024,581 shares of company stock worth $95,632,761 over the last quarter. 18.92% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HNGE. 11.2 Capital Management LLC bought a new position in shares of Hinge Health during the 2nd quarter worth about $204,566,531. Assenagon Asset Management S.A. raised its position in shares of Hinge Health by 2,141.9% during the third quarter. Assenagon Asset Management S.A. now owns 1,854,922 shares of the company’s stock valued at $180,373,000 after buying an additional 1,772,182 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Hinge Health by 169.7% in the second quarter. Wellington Management Group LLP now owns 1,205,584 shares of the company’s stock valued at $100,063,000 after buying an additional 758,594 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Hinge Health by 225.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company’s stock valued at $44,852,000 after buying an additional 806,007 shares during the period. Finally, Estuary Capital Management LP bought a new stake in shares of Hinge Health in the first quarter valued at about $15,201,000.

Hinge Health Company Profile

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

Its platform combines personalized exercise therapy, behavioral support, education and access to clinical professionals. Hinge Health also uses technologies such as motion-sensing wearable devices and artificial intelligence to help guide exercises, monitor progress and tailor care plans to individual needs.

Hinge Health primarily serves employers and health plans, which offer its programs to eligible members in the United States.