Brokerages Set Hinge Health Inc. (NYSE:HNGE) Target Price at $57.07

Hinge Health Inc. (NYSE:HNGE) has been given an average recommendation of “Moderate Buy” by the nineteen brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $57.0667.

Several research analysts have recently commented on the company. Freedom Capital raised Hinge Health to a “strong-buy” rating in a report on Thursday, January 22nd. Piper Sandler dropped their price target on Hinge Health from $71.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, January 9th. Citizens Jmp reiterated a “market outperform” rating and issued a $65.00 price objective on shares of Hinge Health in a research report on Wednesday, February 11th. Wells Fargo & Company began coverage on Hinge Health in a report on Thursday, January 8th. They set an “overweight” rating and a $68.00 target price on the stock. Finally, Wall Street Zen upgraded Hinge Health from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th.

Hinge Health Stock Down 4.5%

Shares of Hinge Health stock opened at $42.50 on Wednesday. Hinge Health has a 12-month low of $30.08 and a 12-month high of $62.18. The stock has a market capitalization of $3.35 billion and a P/E ratio of -3.32. The company has a 50-day simple moving average of $41.10 and a 200 day simple moving average of $46.79.

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

Insider Activity at Hinge Health

In other news, Chairman Gabriel M.I. Mecklenburg sold 166,666 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $45.32, for a total transaction of $7,553,303.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President James Pursley sold 15,000 shares of the 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 sale, the president directly owned 769,778 shares in the company, valued at $37,257,255.20. This trade represents a 1.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 525,487 shares of company stock worth $23,227,028 in the last quarter.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN boosted its position in Hinge Health by 160.0% in the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock valued at $25,000 after buying an additional 336 shares during the last quarter. First Horizon Corp raised its position in shares of Hinge Health by 163.9% during the fourth quarter. First Horizon Corp now owns 855 shares of the company’s stock worth $40,000 after acquiring an additional 531 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Hinge Health during the fourth quarter worth $26,000. Sandler Capital Management lifted its stake in shares of Hinge Health by 1.4% during the third quarter. Sandler Capital Management now owns 52,728 shares of the company’s stock valued at $2,588,000 after acquiring an additional 728 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Hinge Health in the third quarter valued at about $37,000.

Hinge Health Company Profile

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.