Robert W. Baird Boosts Hinge Health (NYSE:HNGE) Price Target to $90.00

Hinge Health (NYSE:HNGE) had its target price boosted by stock analysts at Robert W. Baird from $85.00 to $90.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s target price suggests a potential downside of 4.79% from the stock’s current price.

Several other research firms also recently weighed in on HNGE. Barclays boosted their target price on Hinge Health from $97.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hinge Health in a research report on Monday, August 3rd. Piper Sandler reiterated an “overweight” rating on shares of Hinge Health in a report on Wednesday, June 10th. Needham & Company LLC upped their target price on Hinge Health from $76.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, Raymond James Financial lifted their target price on Hinge Health from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $103.71.

Hinge Health Stock Performance

Shares of NYSE:HNGE opened at $94.53 on Tuesday. The firm has a market cap of $7.63 billion, a price-to-earnings ratio of 73.85 and a beta of 1.38. The firm has a fifty day moving average price of $86.75 and a 200 day moving average price of $66.31. Hinge Health has a fifty-two week low of $30.08 and a fifty-two week 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, topping the consensus estimate of $0.28 by $0.31. Hinge Health had a return on equity of 51.60% and a net margin of 15.15%.The business had revenue of $212.82 million for the quarter. During the same period last year, the company earned $0.59 earnings per share. The firm’s revenue was up 53.0% on a year-over-year basis. As a group, research analysts predict that Hinge Health will post 1.25 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO James Budge sold 55,561 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer owned 349,062 shares of the company’s stock, valued at $31,223,595.90. The trade was a 13.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Perez sold 100,000 shares of Hinge Health stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $89.45, for a total value of $8,945,000.00. Following the completion of the sale, the chief executive officer owned 45,000 shares in the company, valued at approximately $4,025,250. The trade was a 68.97% decrease in their ownership of the stock. 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 have sold 3,780,143 shares of company stock worth $309,735,807 in the last 90 days. 18.92% of the stock is owned by insiders.

Hedge Funds Weigh In On Hinge Health

A number of institutional investors have recently added to or reduced their stakes in HNGE. Tidal Investments LLC purchased a new position in Hinge Health during the second quarter worth about $925,000. Van Hulzen Asset Management LLC boosted its stake in shares of 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 purchased a new position in Hinge Health in the 2nd quarter valued at approximately $373,000. IFP Advisors Inc raised its stake in shares of Hinge Health by 140.0% in the second quarter. IFP Advisors Inc now owns 324 shares of the company’s stock valued at $27,000 after acquiring an additional 189 shares in the last quarter. Finally, Arizona State Retirement System acquired a new stake in shares of Hinge Health in the second quarter valued at $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.