Citizens Jmp Issues Positive Forecast for Hinge Health (NYSE:HNGE) Stock Price

Hinge Health (NYSE:HNGE) had its target price hoisted by research analysts at Citizens Jmp from $80.00 to $96.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. Citizens Jmp’s price target would suggest a potential upside of 29.36% from the stock’s previous close.

HNGE has been the subject of a number of other research reports. Royal Bank Of Canada boosted their price target on Hinge Health from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, June 11th. Raymond James Financial raised their price target on Hinge Health from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, June 15th. Robert W. Baird lifted their price objective on shares of Hinge Health from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, June 17th. Zacks Research raised shares of Hinge Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Finally, Morgan Stanley increased their target price on shares of Hinge Health from $72.00 to $108.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Hinge Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.33.

Hinge Health Trading Down 0.1%

Shares of NYSE:HNGE opened at $74.21 on Monday. The firm’s 50 day moving average is $71.54 and its two-hundred day moving average is $52.79. The firm has a market capitalization of $5.74 billion, a P/E ratio of -6.01 and a beta of 1.13. Hinge Health has a 52 week low of $30.08 and a 52 week high of $91.50.

Hinge Health (NYSE:HNGE) last issued 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 firm posted $1.30 earnings per share. The business’s quarterly revenue was up 47.2% on a year-over-year basis. Analysts predict that Hinge Health will post 1.37 EPS for the current year.

Insider Activity at Hinge Health

In related news, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $82.83, for a total transaction of $121,484,027.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $60.22, for a total value of $5,018,373.48. Following the completion of the transaction, the chairman directly owned 83,334 shares in the company, valued at $5,018,373.48. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 corporate insiders.

Institutional Trading of Hinge Health

A number of hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its holdings in shares of Hinge Health by 162.7% in the fourth quarter. BNP Paribas Financial Markets now owns 727,672 shares of the company’s stock valued at $33,800,000 after purchasing an additional 450,643 shares in the last quarter. UBS Group AG boosted its holdings in shares of Hinge Health by 168.8% during the fourth quarter. UBS Group AG now owns 356,701 shares of the company’s stock worth $16,569,000 after purchasing an additional 223,980 shares during the period. Royce & Associates LP acquired a new position in Hinge Health in the 4th quarter valued at approximately $2,091,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Hinge Health by 755.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,354 shares of the company’s stock valued at $1,271,000 after buying an additional 24,155 shares during the period. Finally, Alkeon Capital Management LLC raised its holdings in shares of Hinge Health by 110.4% during the fourth quarter. Alkeon Capital Management LLC now owns 791,104 shares of the company’s stock worth $36,747,000 after acquiring an additional 415,093 shares in the last quarter.

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.