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

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 reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $56.7333.

HNGE has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $59.00 price target on shares of Hinge Health in a report on Wednesday, February 11th. Citizens Jmp reiterated a “market outperform” rating and set a $65.00 target price on shares of Hinge Health in a research note on Wednesday, February 11th. Stifel Nicolaus set a $59.00 price target on shares of Hinge Health in a research report on Thursday, February 5th. Weiss Ratings restated a “sell (d)” rating on shares of Hinge Health in a research note on Thursday, January 22nd. Finally, Evercore set a $50.00 price objective on Hinge Health and gave the company an “outperform” rating in a research note on Wednesday, February 11th.

Insider Buying and Selling

In other Hinge Health news, major shareholder Insight Holdings Group, Llc sold 1,654,440 shares of Hinge Health stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $47.76, for a total value of $79,016,054.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Daniel Antonio Perez sold 166,670 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $48.53, for a total value of $8,088,495.10. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,179,931 shares of company stock worth $102,778,274 in the last ninety days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HNGE. Wells Fargo & Company MN boosted its stake 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 purchasing an additional 336 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Hinge Health in the third quarter valued at about $37,000. First Horizon Corp raised its stake in 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 in the last quarter. Montag A & Associates Inc. bought a new position in shares of Hinge Health in the second quarter worth about $41,000. Finally, High Point Wealth Management LLC acquired a new stake in shares of Hinge Health in the 4th quarter valued at approximately $46,000.

Hinge Health Price Performance

Hinge Health stock opened at $42.93 on Friday. The company has a market capitalization of $3.38 billion and a price-to-earnings ratio of -3.35. Hinge Health has a one year low of $30.08 and a one year high of $62.18. The company’s fifty day moving average price is $41.94 and its two-hundred day moving average price is $48.05.

Hinge Health declared that its Board of Directors has initiated a share repurchase plan on Wednesday, November 12th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 7.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

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.