Hinge Health Inc. (NYSE:HNGE) Given Average Rating of "Buy" by Analysts

Key Points

• Hinge Health Inc. has received a consensus rating of "Buy" from sixteen brokerages, with fifteen analysts recommending buying the stock and one giving a strong buy recommendation.
• The average 12-month price target for Hinge Health is approximately $49.86, with recent analyst price targets reaching as high as $52.00.
• Shares of Hinge Health traded up 1.2%, reaching $48.79, with significant trading volume of 1,649,261 shares.

Hinge Health Inc. (NYSE:HNGE - Get Free Report) has earned an average rating of "Buy" from the sixteen research firms that are presently covering the company, Marketbeat.com reports. Fifteen research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $55.7143.

Several research analysts have commented on the stock. Piper Sandler assumed coverage on shares of Hinge Health in a research report on Monday, June 16th. They set an "overweight" rating and a $41.00 price objective for the company. William Blair initiated coverage on shares of Hinge Health in a report on Monday, June 16th. They set an "outperform" rating for the company. Bank of America upped their price target on shares of Hinge Health from $42.00 to $64.00 and gave the stock a "buy" rating in a report on Wednesday. JMP Securities boosted their price objective on shares of Hinge Health from $58.00 to $65.00 and gave the stock a "market outperform" rating in a research note on Wednesday. Finally, Morgan Stanley boosted their price objective on shares of Hinge Health from $46.00 to $57.00 and gave the stock an "overweight" rating in a research note on Wednesday.

Institutional Trading of Hinge Health

Hedge funds have recently made changes to their positions in the stock. Lisanti Capital Growth LLC bought a new position in shares of Hinge Health during the second quarter valued at about $3,089,000. CHURCHILL MANAGEMENT Corp bought a new position in shares of Hinge Health during the second quarter valued at approximately $828,000. Strategic Blueprint LLC bought a new position in shares of Hinge Health during the second quarter valued at approximately $346,000. FNY Investment Advisers LLC bought a new position in shares of Hinge Health during the second quarter valued at approximately $310,000. Finally, Mark Sheptoff Financial Planning LLC bought a new position in shares of Hinge Health during the second quarter valued at approximately $114,000.

Hinge Health Stock Down 7.6%

Shares of NYSE:HNGE traded down $4.61 during trading on Tuesday, reaching $55.74. 782,960 shares of the stock were exchanged, compared to its average volume of 927,387. The company's 50-day moving average is $44.19. Hinge Health has a 12 month low of $33.42 and a 12 month high of $62.00.

Hinge Health Company Profile

Our vision is to build a new health system that transforms outcomes, experience and costs by using technology to scale and automate the delivery of care. Hinge Health leverages software, including AI, to largely automate care for joint and muscle health, delivering an outstanding member experience, improved member outcomes, and cost reductions for our clients.