Hinge Health (NYSE:HNGE) Given New $96.00 Price Target at Citizens Jmp

Hinge Health (NYSE:HNGE) had its price target boosted by Citizens Jmp from $80.00 to $96.00 in a research note issued to investors on Monday morning,Benzinga reports. The firm currently has a market outperform rating on the stock.

Several other equities research analysts have also issued reports on the company. Truist Financial lifted their price target on Hinge Health from $79.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Weiss Ratings upgraded Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. Evercore reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Hinge Health in a research report on Wednesday, April 8th. Robert W. Baird boosted their target price on shares of Hinge Health from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 17th. Finally, Barclays increased their price target on shares of Hinge Health from $70.00 to $97.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Hinge Health presently has an average rating of “Moderate Buy” and a consensus target price of $86.07.

Hinge Health Stock Up 1.0%

Shares of NYSE:HNGE opened at $75.05 on Monday. The firm has a fifty day moving average of $71.94 and a two-hundred day moving average of $52.97. Hinge Health has a 12-month low of $30.08 and a 12-month high of $91.50. The firm has a market capitalization of $5.81 billion, a P/E ratio of -6.08 and a beta of 1.13.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the business posted $1.30 earnings per share. Hinge Health’s revenue was up 47.2% on a year-over-year basis. Equities research analysts expect that Hinge Health will post 1.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Hinge Health news, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $85.05, for a total transaction of $7,087,556.70. Following the transaction, the chairman owned 83,334 shares in the company, valued at $7,087,556.70. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President James Pursley sold 33,000 shares of Hinge Health stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $69.31, for a total transaction of $2,287,230.00. Following the completion of the transaction, the president directly owned 740,897 shares in the company, valued at approximately $51,351,571.07. This represents a 4.26% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,921,100 shares of company stock valued at $299,222,881 over the last 90 days. 18.92% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of HNGE. Vista Investment Partners LLC acquired a new position in Hinge Health during the 2nd quarter worth $3,468,000. Assenagon Asset Management S.A. bought a new stake in Hinge Health during the second quarter valued at about $6,867,000. California State Teachers Retirement System grew its position in shares of Hinge Health by 35.2% in the first quarter. California State Teachers Retirement System now owns 19,141 shares of the company’s stock valued at $738,000 after purchasing an additional 4,986 shares during the last quarter. Estuary Capital Management LP bought a new position in shares of Hinge Health in the first quarter worth about $15,201,000. Finally, Lazard Asset Management LLC increased its stake 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 worth $2,456,000 after purchasing an additional 386 shares during the period.

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.