Hinge Health (NYSE:HNGE) Given New $55.00 Price Target at Royal Bank Of Canada

Hinge Health (NYSE:HNGE) had its price objective lifted by Royal Bank Of Canada from $50.00 to $55.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an outperform rating on the stock.

HNGE has been the subject of several other reports. Citizens Jmp reissued a “market outperform” rating and issued a $65.00 price objective on shares of Hinge Health in a research note on Wednesday, February 11th. Evercore set a $50.00 target price on Hinge Health and gave the company an “outperform” rating in a report on Wednesday, February 11th. Freedom Capital upgraded shares of Hinge Health to a “strong-buy” rating in a report on Thursday, January 22nd. Barclays dropped their price objective on shares of Hinge Health from $60.00 to $52.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 11th. Finally, Wall Street Zen upgraded shares of Hinge Health from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.07.

Hinge Health Stock Performance

NYSE HNGE opened at $45.43 on Wednesday. The firm’s 50 day moving average price is $41.60 and its two-hundred day moving average price is $47.32. Hinge Health has a twelve month low of $30.08 and a twelve month high of $62.18. The stock has a market cap of $3.58 billion and a price-to-earnings ratio of -3.55.

Hinge Health (NYSE:HNGE) last issued its earnings results on Tuesday, February 10th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.04 by $0.45. The business had revenue of $170.73 million during 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.

Hinge Health announced that its board has authorized a share buyback program on Wednesday, November 12th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the company to repurchase up to 7.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Hinge Health

In related news, President James Pursley sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $48.40, for a total transaction of $726,000.00. Following the transaction, the president owned 769,778 shares of the company’s stock, valued at approximately $37,257,255.20. This trade represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel Antonio Perez sold 166,665 shares of Hinge Health stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $40.26, for a total transaction of $6,709,932.90. The SEC filing for this sale provides additional information. Insiders have sold 692,157 shares of company stock valued at $31,315,523 in the last quarter.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN raised its holdings in shares of Hinge Health by 160.0% during the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock valued at $25,000 after purchasing an additional 336 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Hinge Health in the fourth quarter worth $26,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Hinge Health during the third quarter worth $37,000. Montag A & Associates Inc. bought a new position in Hinge Health during the second quarter valued at about $41,000. Finally, First Horizon Corp raised its holdings in Hinge Health by 163.9% during the fourth quarter. First Horizon Corp now owns 855 shares of the company’s stock valued at $40,000 after buying an additional 531 shares in the last quarter.

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.