Robert W. Baird Issues Positive Forecast for Hinge Health (NYSE:HNGE) Stock Price

Hinge Health (NYSE:HNGE) had its price objective increased by Robert W. Baird from $55.00 to $65.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s price objective would suggest a potential downside of 4.29% from the stock’s previous close.

A number of other equities analysts also recently commented on HNGE. Truist Financial boosted their price objective on Hinge Health from $79.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Canaccord Genuity Group boosted their price objective on Hinge Health from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday. Citizens Jmp boosted their price objective on Hinge Health from $65.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 6th. Evercore reissued an “outperform” rating and set a $45.00 price objective on shares of Hinge Health in a research report on Wednesday, April 8th. Finally, Barclays upped their price target on Hinge Health from $62.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $75.13.

Hinge Health Price Performance

NYSE HNGE opened at $67.91 on Wednesday. Hinge Health has a 1-year low of $30.08 and a 1-year high of $70.72. The company has a market cap of $5.26 billion and a P/E ratio of -5.50. The stock has a 50-day moving average of $51.65 and a two-hundred day moving average of $46.27.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the firm posted $1.30 earnings per share. The business’s quarterly revenue was up 47.2% compared to the same quarter last year. On average, analysts anticipate that Hinge Health will post 1.21 EPS for the current fiscal year.

Insider Activity at Hinge Health

In related news, President James Pursley sold 16,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $53.79, for a total value of $860,640.00. Following the completion of the transaction, the president directly owned 780,223 shares of the company’s stock, valued at $41,968,195.17. This represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $5,018,373.48. This trade represents a 50.00% decrease in their ownership of the stock. 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 554,600 shares of company stock valued at $29,859,068 over the last three months. 18.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hinge Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HNGE. Marshall Wace LLP purchased a new stake in Hinge Health in the second quarter valued at approximately $367,000. Sei Investments Co. purchased a new stake in Hinge Health in the second quarter valued at approximately $869,000. Squarepoint Ops LLC purchased a new stake in Hinge Health in the second quarter valued at approximately $19,706,000. Raymond James Financial Inc. purchased a new stake in Hinge Health in the second quarter valued at approximately $3,258,000. Finally, Sandia Investment Management LP purchased a new stake in Hinge Health in the second quarter valued at approximately $657,000.

About Hinge Health

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.