Hinge Health (NYSE:HNGE) Price Target Raised to $145.00

by · The Cerbat Gem

Hinge Health (NYSE:HNGE – Free Report) had its price target boosted by Truist Financial from $112.00 to $145.00 in a report released on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts have also issued reports on HNGE. Evercore reiterated an “outperform” rating and issued a $105.00 target price on shares of Hinge Health in a research report on Wednesday, August 5th. Bank of America assumed coverage on Hinge Health in a research note on Tuesday, September 29th. They issued a “buy” rating and a $110.00 target price on the stock. Canaccord Genuity Group raised their price target on Hinge Health from $105.00 to $134.00 and gave the company a “buy” rating in a research report on Tuesday. Wells Fargo & Company lifted their price target on Hinge Health from $103.00 to $132.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Zacks Research cut Hinge Health from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $118.93.

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Hinge Health Price Performance

Shares of HNGE opened at $115.86 on Tuesday. Hinge Health has a 1-year low of $30.08 and a 1-year high of $124.94. The company has a market capitalization of $9.35 billion, a P/E ratio of 65.69, a P/E/G ratio of 2.12 and a beta of 1.19. The firm’s 50 day simple moving average is $100.34 and its 200 day simple moving average is $68.46.

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

Insider Buying and Selling at Hinge Health

In other Hinge Health news, Chairman Gabriel Mecklenburg sold 250,000 shares of Hinge Health stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $88.97, for a total transaction of $22,242,500.00. Following the transaction, the chairman directly owned 250,000 shares of the company’s stock, valued at approximately $22,242,500. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO James Budge sold 55,561 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The stock was 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 approximately $31,223,595.90. The trade was a 13.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,024,581 shares of company stock valued at $95,632,761. 18.92% of the stock is owned by insiders.

Institutional Trading of Hinge Health

Several hedge funds have recently added to or reduced their stakes in HNGE. IFP Advisors Inc boosted its position in Hinge Health by 140.0% during the second quarter. IFP Advisors Inc now owns 324 shares of the company’s stock valued at $27,000 after buying an additional 189 shares during the period. Nykredit A S bought a new position in shares of Hinge Health during the second quarter valued at about $29,000. SBI Securities Co. Ltd. grew its stake in shares of Hinge Health by 39.5% during the third quarter. SBI Securities Co. Ltd. now owns 364 shares of the company’s stock valued at $35,000 after buying an additional 103 shares during the last quarter. State of Wyoming purchased a new position in shares of Hinge Health in the first quarter worth about $110,000. Finally, Sterling Capital Management LLC increased its holdings in shares of Hinge Health by 899.3% in the third quarter. Sterling Capital Management LLC now owns 1,469 shares of the company’s stock worth $143,000 after buying an additional 1,322 shares during the period.

About Hinge Health

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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.

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