Hinge Health Inc. (NYSE:HNGE) Receives $75.80 Consensus Price Target from Brokerages

Shares of Hinge Health Inc. (NYSE:HNGE) have earned a consensus rating of “Moderate Buy” from the nineteen analysts that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $75.80.

A number of equities research analysts have commented on HNGE shares. KeyCorp raised their target price on Hinge Health from $75.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Evercore reiterated an “outperform” rating and issued a $45.00 price target on shares of Hinge Health in a report on Wednesday, April 8th. Stifel Nicolaus set a $79.00 price objective on shares of Hinge Health in a research note on Wednesday, June 10th. Royal Bank Of Canada boosted their price objective on shares of Hinge Health from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, June 11th. Finally, Zacks Research upgraded shares of Hinge Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th.

Insider Transactions at Hinge Health

In related news, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of Hinge Health stock in a transaction on Monday, June 29th. The stock was sold at an average price of $82.83, for a total transaction of $121,484,027.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President James Pursley sold 33,000 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $69.31, for a total value of $2,287,230.00. Following the sale, the president owned 740,897 shares in the company, valued at approximately $51,351,571.07. The trade was a 4.26% 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 3,528,262 shares of company stock valued at $262,276,568 in the last quarter. 18.92% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hinge Health

Several institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System grew its stake in Hinge Health by 35.2% in 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 purchased a new stake in shares of Hinge Health in the first quarter valued at about $15,201,000. Lazard Asset Management LLC lifted its holdings in shares of Hinge Health by 0.6% in the first quarter. Lazard Asset Management LLC now owns 63,705 shares of the company’s stock valued at $2,456,000 after purchasing an additional 386 shares in the last quarter. Entropy Technologies LP grew its position in shares of Hinge Health by 28.1% in the first quarter. Entropy Technologies LP now owns 11,749 shares of the company’s stock valued at $453,000 after purchasing an additional 2,579 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake 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 worth $44,852,000 after purchasing an additional 806,007 shares in the last quarter.

Hinge Health Trading Down 1.1%

Shares of HNGE stock opened at $84.15 on Friday. The company has a market cap of $6.51 billion, a price-to-earnings ratio of -6.82 and a beta of 1.13. The stock has a 50 day simple moving average of $60.11 and a 200-day simple moving average of $48.50. Hinge Health has a 12-month low of $30.08 and a 12-month high of $86.66.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.12 by $0.33. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.The business had revenue of $182.31 million during the quarter. During the same period in the prior year, the business earned $1.30 earnings per share. The firm’s quarterly revenue was up 47.2% compared to the same quarter last year. On average, equities analysts forecast that Hinge Health will post 1.33 earnings per share for the current fiscal year.

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.