Hinge Health Inc. (NYSE:HNGE) Stock Has Average Price Target of $105.33 According to Brokerages

Key Points

• Analysts maintain a positive outlook: Hinge Health has a consensus “Moderate Buy” rating from 19 analysts, with an average 12-month price target of $105.33.
• The company reported quarterly EPS of $0.59, exceeding estimates of $0.28, while revenue rose 53% year over year to $212.82 million.
• Insiders have been selling shares: Insiders sold approximately 1.2 million shares worth $108.1 million over the past 90 days, including sizable sales by major shareholder Insight Holdings and CFO James Budge.

Hinge Health Inc. (NYSE:HNGE - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the nineteen research firms that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $105.33.

Several equities analysts recently issued reports on HNGE shares. Truist Financial lifted their price target 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. Robert W. Baird upped their price objective on shares of Hinge Health from $85.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 22nd. Bank of America began coverage on shares of Hinge Health in a report on Tuesday, September 29th. They set a "buy" rating and a $110.00 price objective for the company. Canaccord Genuity Group set a $105.00 target price on Hinge Health in a report on Wednesday, August 5th. Finally, KeyCorp increased their price target on Hinge Health from $90.00 to $125.00 and gave the stock an "overweight" rating in a research report on Monday, July 13th.

Insider Buying and Selling

In related news, major shareholder Insight Holdings Group, Llc sold 244,672 shares of the company's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $90.23, for a total value of $22,076,754.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO James Budge sold 55,561 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $89.45, for a total value of $4,969,931.45. Following the completion of the sale, the chief financial officer owned 349,062 shares of the company's stock, valued at $31,223,595.90. This trade represents a 13.73% 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. In the last ninety days, insiders have sold 1,198,932 shares of company stock worth $108,122,542. 18.92% of the stock is currently owned by company insiders.

Institutional Trading of Hinge Health

Hedge funds and other institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of Hinge Health during the fourth quarter worth about $26,000. IFP Advisors Inc raised its position in Hinge Health by 140.0% in the 2nd quarter. IFP Advisors Inc now owns 324 shares of the company's stock valued at $27,000 after buying an additional 189 shares during the last quarter. Nykredit A S bought a new stake in Hinge Health in the 2nd quarter valued at approximately $29,000. CENTRAL TRUST Co acquired a new position in Hinge Health during the 1st quarter worth approximately $37,000. Finally, State of Wyoming acquired a new position in Hinge Health during the 1st quarter worth approximately $110,000.

Hinge Health Trading Down 0.3%

NYSE HNGE opened at $97.60 on Friday. Hinge Health has a 1 year low of $30.08 and a 1 year high of $99.73. The company has a fifty day simple moving average of $88.84 and a 200 day simple moving average of $69.28. The company has a market cap of $7.88 billion, a P/E ratio of 76.25 and a beta of 1.37.

Hinge Health (NYSE:HNGE - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (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 last year, the business earned $0.59 EPS. The business's quarterly revenue was up 53.0% compared to the same quarter last year. Equities research analysts forecast that Hinge Health will post 1.25 EPS 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.

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