Hinge Health (NYSE:HNGE) Price Target Raised to $135.00

Hinge Health (NYSE:HNGE) had its price target upped by Stifel Nicolaus from $130.00 to $135.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts also recently issued reports about the stock. Citizens Jmp increased their target price on shares of Hinge Health from $96.00 to $107.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 5th. Robert W. Baird lifted their price target on shares of Hinge Health from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, September 22nd. Barclays upped their price objective on Hinge Health from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. Royal Bank Of Canada increased their price objective on Hinge Health from $75.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Finally, Truist Financial increased their price objective on Hinge Health from $85.00 to $112.00 and gave the company a “buy” rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Hinge Health has a consensus rating of “Moderate Buy” and an average target price of $118.93.

Hinge Health Stock Performance

HNGE opened at $115.86 on Tuesday. The firm has a market cap of $9.35 billion, a P/E ratio of 65.69, a PEG ratio of 2.12 and a beta of 1.19. The firm has a 50-day moving average of $100.34 and a 200 day moving average of $68.46. Hinge Health has a fifty-two week low of $30.08 and a fifty-two week high of $124.94.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings data on Monday, November 2nd. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.44. The business had revenue of $234.97 million during the quarter. Hinge Health had a net margin of 21.02% and a return on equity of 73.91%. The business’s quarterly revenue was up 52.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.02) EPS. Equities research analysts predict that Hinge Health will post 1.25 earnings per share for the current fiscal year.

Insider Buying and Selling at Hinge Health

In other news, President James Pursley sold 33,000 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $88.05, for a total value of $2,905,650.00. Following the sale, the president owned 706,235 shares of the company’s stock, valued at $62,183,991.75. The trade was a 4.46% decrease in their ownership of the stock. The transaction 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, CEO Daniel Perez sold 150,000 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $89.44, for a total transaction of $13,416,000.00. Following the sale, the chief executive officer owned 35,470 shares in the company, valued at $3,172,436.80. The trade was a 80.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,024,581 shares of company stock worth $95,632,761 over the last three months. Company insiders own 18.92% of the company’s stock.

Institutional Trading of Hinge Health

Institutional investors have recently added to or reduced their stakes in the stock. Argent Capital Management LLC bought a new stake in Hinge Health during the third quarter worth about $3,376,000. Assenagon Asset Management S.A. boosted its holdings in shares of Hinge Health by 2,141.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,854,922 shares of the company’s stock worth $180,373,000 after purchasing an additional 1,772,182 shares in the last quarter. Vista Investment Partners LLC purchased a new position in shares of Hinge Health in the 2nd quarter worth about $3,468,000. 11.2 Capital Management LLC purchased a new position in shares of Hinge Health in the 2nd quarter worth about $204,566,531. Finally, Tidal Investments LLC bought a new position in shares of Hinge Health during the 2nd quarter valued at about $925,000.

About Hinge Health

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

Its platform combines personalized exercise therapy, behavioral support, education and access to clinical professionals. Hinge Health also uses technologies such as motion-sensing wearable devices and artificial intelligence to help guide exercises, monitor progress and tailor care plans to individual needs.

Hinge Health primarily serves employers and health plans, which offer its programs to eligible members in the United States.