Hinge Health Inc. (NYSE:HNGE) Stock Has Consensus Price Target of $105.33

Shares of Hinge Health Inc. (NYSE:HNGE) have earned an average recommendation of “Moderate Buy” from the nineteen research firms that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $105.33.

HNGE has been the subject of several recent research reports. Truist Financial raised their price target on Hinge Health from $85.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Canaccord Genuity Group set a $105.00 price objective on Hinge Health in a research report on Wednesday, August 5th. Zacks Research lowered Hinge Health from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Morgan Stanley lifted their price objective on Hinge Health from $72.00 to $108.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Finally, Needham & Company LLC boosted their target price on shares of Hinge Health from $97.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, September 30th.

Insider Activity at Hinge Health

In other news, President James Pursley sold 33,000 shares of Hinge Health stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $94.14, for a total transaction of $3,106,620.00. Following the completion of the sale, the president directly owned 666,909 shares in the company, valued at $62,782,813.26. The trade was a 4.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kristina Leslie sold 1,200 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $88.23, for a total transaction of $105,876.00. Following the completion of the transaction, the director directly owned 30,387 shares of the company’s stock, valued at approximately $2,681,045.01. This represents a 3.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 954,260 shares of company stock worth $86,045,787 over the last three months. Company insiders own 18.92% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of HNGE. IFP Advisors Inc boosted its holdings in shares of Hinge Health by 140.0% during the second quarter. IFP Advisors Inc now owns 324 shares of the company’s stock worth $27,000 after purchasing an additional 189 shares during the last quarter. Nykredit A S purchased a new stake in shares of Hinge Health in the second quarter valued at $29,000. Caitong International Asset Management Co. Ltd acquired a new position in Hinge Health in the fourth quarter valued at $26,000. CENTRAL TRUST Co acquired a new position in Hinge Health in the first quarter valued at $37,000. Finally, Comprehensive Financial Management LLC purchased a new position in Hinge Health during the second quarter worth about $212,000.

Hinge Health Price Performance

Shares of HNGE opened at $98.27 on Friday. The firm has a 50 day simple moving average of $89.76 and a 200-day simple moving average of $70.22. Hinge Health has a 1-year low of $30.08 and a 1-year high of $100.36. The stock has a market cap of $7.93 billion, a price-to-earnings ratio of 76.78 and a beta of 1.37.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.31. The firm had revenue of $212.82 million during the quarter. Hinge Health had a return on equity of 51.60% and a net margin of 15.15%.The company’s revenue for the quarter was up 53.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 earnings per share. On average, equities analysts expect that Hinge Health will post 1.25 earnings per share for the current fiscal year.

About Hinge Health

Hinge Health, Inc is a digital healthcare company focused on musculoskeletal (MSK) conditions, including back and joint pain. The company provides virtual care designed to help members manage pain, improve mobility and avoid or delay more invasive treatments.

Its platform combines a mobile application, motion-sensing technology, personalized exercise therapy, education and support from a care team that may include clinical specialists. Hinge Health offers programs for conditions such as chronic back pain, knee pain and other common MSK issues, with services generally provided through employers, health plans and other healthcare organizations.

Hinge Health was founded in 2015 and is headquartered in San Francisco, California.