Hinge Health Inc. (NYSE:HNGE) Receives $56.73 Consensus Target Price from Analysts

Shares of Hinge Health Inc. (NYSE:HNGE) have received an average rating of “Moderate Buy” from the nineteen analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $56.7333.

Several equities research analysts recently weighed in on HNGE shares. Canaccord Genuity Group decreased their price target on Hinge Health from $65.00 to $53.00 and set a “buy” rating for the company in a report on Wednesday, February 11th. Wells Fargo & Company started coverage on Hinge Health in a report on Thursday, January 8th. They issued an “overweight” rating and a $68.00 target price for the company. KeyCorp set a $55.00 target price on Hinge Health in a report on Wednesday, February 11th. Piper Sandler reduced their target price on Hinge Health from $71.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, January 9th. Finally, Evercore reissued an “outperform” rating and issued a $45.00 target price on shares of Hinge Health in a report on Wednesday, April 8th.

Insiders Place Their Bets

In other Hinge Health news, Chairman Gabriel M.I. Mecklenburg sold 50,000 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $38.46, for a total value of $1,923,000.00. Following the completion of the sale, the chairman owned 50,000 shares of the company’s stock, valued at approximately $1,923,000. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President James Pursley sold 15,000 shares of the firm’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $42.26, for a total value of $633,900.00. Following the completion of the sale, the president directly owned 732,104 shares of the company’s stock, valued at approximately $30,938,715.04. This trade represents a 2.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 409,337 shares of company stock worth $17,285,250 in the last ninety days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HNGE. Marshall Wace LLP purchased a new position in shares of Hinge Health in the second quarter valued at $367,000. Sei Investments Co. purchased a new position in shares of Hinge Health in the second quarter valued at $869,000. Squarepoint Ops LLC purchased a new position in shares of Hinge Health in the second quarter valued at $19,706,000. Raymond James Financial Inc. purchased a new position in shares of Hinge Health in the second quarter valued at $3,258,000. Finally, Sandia Investment Management LP purchased a new position in shares of Hinge Health in the second quarter valued at $657,000.

Hinge Health Price Performance

Shares of NYSE HNGE opened at $43.27 on Friday. The stock has a fifty day moving average price of $40.92 and a 200 day moving average price of $44.42. Hinge Health has a 1-year low of $30.08 and a 1-year high of $62.18. The company has a market cap of $3.41 billion and a PE ratio of -3.38.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.45. The company had revenue of $170.73 million for the quarter, compared to analyst estimates of $157.31 million. The firm’s revenue was up 45.5% compared to the same quarter last 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.