Hinge Health (NYSE:HNGE) Price Target Raised to $80.00 at Wells Fargo & Company

Hinge Health (NYSE:HNGEFree Report) had its price objective increased by Wells Fargo & Company from $68.00 to $80.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities analysts also recently issued reports on the company. Freedom Capital raised Hinge Health to a “strong-buy” rating in a research report on Thursday, January 22nd. Needham & Company LLC lifted their price objective on Hinge Health from $59.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday. Citizens Jmp reiterated a “market outperform” rating and set a $65.00 target price on shares of Hinge Health in a report on Wednesday, February 11th. Stifel Nicolaus set a $59.00 target price on shares of Hinge Health in a research report on Thursday, February 5th. Finally, Wall Street Zen lowered shares of Hinge Health from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Hinge Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.40.

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Hinge Health Stock Performance

Hinge Health stock opened at $54.15 on Wednesday. The company has a market capitalization of $4.26 billion and a PE ratio of -4.39. The company has a 50 day moving average price of $42.51 and a 200-day moving average price of $43.96. Hinge Health has a fifty-two week low of $30.08 and a fifty-two week high of $62.18.

Hinge Health (NYSE:HNGEGet Free Report) 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. The company had revenue of $182.31 million for the quarter. Hinge Health had a negative return on equity of 279.39% and a negative net margin of 78.95%.The firm’s revenue for the quarter was up 47.2% compared to the same quarter last year. During the same period last year, the company earned $1.30 EPS. On average, analysts forecast that Hinge Health will post 0.78 earnings per share for the current year.

Insider Buying and Selling

In other Hinge Health news, President James Pursley sold 15,000 shares of the stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $42.26, for a total transaction of $633,900.00. Following the completion of the sale, the president directly owned 732,104 shares of the company’s stock, valued at approximately $30,938,715.04. This represents a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Daniel Antonio Perez sold 166,665 shares of the firm’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $40.26, for a total transaction of $6,709,932.90. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 442,670 shares of company stock valued at $18,786,901. Company insiders own 18.92% of the company’s stock.

Hedge Funds Weigh In On Hinge Health

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new stake in shares of Hinge Health during the 1st quarter valued at $292,000. Emerald Mutual Fund Advisers Trust purchased a new position in Hinge Health during the 1st quarter worth $7,009,000. Emerald Advisers LLC acquired a new position in Hinge Health during the 1st quarter valued at about $10,754,000. Principal Financial Group Inc. raised its stake in Hinge Health by 83.3% in the first quarter. Principal Financial Group Inc. now owns 188,866 shares of the company’s stock valued at $7,283,000 after buying an additional 85,809 shares during the last quarter. Finally, Schwartz Investment Counsel Inc. raised its stake in Hinge Health by 28.3% in the first quarter. Schwartz Investment Counsel Inc. now owns 59,000 shares of the company’s stock valued at $2,275,000 after buying an additional 13,000 shares during the last quarter.

Key Stories Impacting Hinge Health

Here are the key news stories impacting Hinge Health this week:

About Hinge Health

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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.

Further Reading

Analyst Recommendations for Hinge Health (NYSE:HNGE)

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