Hinge Health (NYSE:HNGE) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Key Points

• Robert W. Baird raised Hinge Health’s price target from $85 to $90 while maintaining a neutral rating, implying about 4.8% downside from the stock’s $94.53 price. The broader analyst consensus is more positive, with a “Moderate Buy” rating and an average target of $103.71.
• Hinge Health reported strong quarterly results, including $0.59 in earnings per share versus the $0.28 consensus estimate and revenue of $212.82 million, up 53% year over year.
• Insiders sold heavily in the latest quarter, disposing of 3.78 million shares worth approximately $309.7 million, although insiders still own 18.92% of the company. The stock traded near its 52-week high and has a market capitalization of about $7.63 billion.

Hinge Health (NYSE:HNGE - Get Free Report) had its price target lifted by equities research analysts at Robert W. Baird from $85.00 to $90.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Robert W. Baird's price target would suggest a potential downside of 4.79% from the stock's current price.

Other analysts have also issued research reports about the stock. Wells Fargo & Company boosted their price target on shares of Hinge Health from $90.00 to $103.00 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Truist Financial boosted their target price on shares of Hinge Health from $85.00 to $112.00 and gave the company a "buy" rating in a report on Monday, August 10th. Citigroup reissued an "outperform" rating on shares of Hinge Health in a report on Monday, July 27th. Morgan Stanley increased their price target on shares of Hinge Health from $72.00 to $108.00 and gave the stock an "overweight" rating in a report on Monday, July 13th. Finally, Stifel Nicolaus boosted their price target on shares of Hinge Health from $96.00 to $115.00 and gave the company a "buy" rating in a research report on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $103.71.

Hinge Health Trading Down 0.4%

Shares of NYSE HNGE opened at $94.53 on Tuesday. The stock has a fifty day simple moving average of $86.75 and a two-hundred day simple moving average of $66.31. Hinge Health has a 1-year low of $30.08 and a 1-year high of $96.66. The firm has a market cap of $7.63 billion, a price-to-earnings ratio of 73.85 and a beta of 1.38.

Hinge Health (NYSE:HNGE - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.31. Hinge Health had a return on equity of 51.60% and a net margin of 15.15%.The firm had revenue of $212.82 million for the quarter. During the same period in the prior year, the company earned $0.59 EPS. The firm's quarterly revenue was up 53.0% on a year-over-year basis. Analysts forecast that Hinge Health will post 1.25 EPS for the current year.

Insider Transactions 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 stock was sold at an average price of $88.05, for a total transaction of $2,905,650.00. Following the transaction, the president directly owned 706,235 shares of the company's stock, valued at approximately $62,183,991.75. The trade was a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Gabriel Mecklenburg sold 150,000 shares of Hinge Health stock in a transaction on Monday, September 14th. The shares were sold at an average price of $93.22, for a total transaction of $13,983,000.00. Following the completion of the sale, the chairman owned 150,000 shares in the company, valued at approximately $13,983,000. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 3,780,143 shares of company stock worth $309,735,807. Corporate insiders own 18.92% of the company's stock.

Hedge Funds Weigh In On Hinge Health

A number of hedge funds have recently bought and sold shares of HNGE. 11.2 Capital Management LLC bought a new position in shares of Hinge Health during the 2nd quarter valued at $204,566,531. BIT Capital GmbH increased its position in shares of Hinge Health by 79.3% during the 4th quarter. BIT Capital GmbH now owns 3,316,101 shares of the company's stock valued at $154,033,000 after purchasing an additional 1,466,577 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Hinge Health by 225.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company's stock worth $44,852,000 after buying an additional 806,007 shares during the last quarter. Wellington Management Group LLP increased its holdings in Hinge Health by 169.7% during the second quarter. Wellington Management Group LLP now owns 1,205,584 shares of the company's stock valued at $100,063,000 after buying an additional 758,594 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Hinge Health by 162.7% during the 4th quarter. BNP Paribas Financial Markets now owns 727,672 shares of the company's stock worth $33,800,000 after acquiring an additional 450,643 shares during the last quarter.

Hinge Health Company Profile

Hinge Health, Inc is a digital health company focused on musculoskeletal care. The company provides virtual programs designed to help people manage and improve conditions affecting the back, joints and other areas of the musculoskeletal system, with the goal of supporting conservative care and reducing the need for more invasive treatment.

Its platform combines personalized exercise therapy, digital tools, clinical guidance and behavioral support. Depending on the program, members may use the Hinge Health mobile application, wearable motion sensors and remote care from physical therapists, health coaches and other clinicians.

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