Hinge Health (NYSE:HNGE) Price Target Raised to $85.00 at Truist Financial

Key Points

• Truist Financial raised Hinge Health’s price target from $79 to $85 and kept a buy rating, implying about 31.6% upside from the current price.
• Hinge Health’s stock was trading at $64.60, near its 12-month high of $66.55, after gaining on the day and sitting well above its 50-day and 200-day moving averages.
• The company recently reported strong quarterly revenue growth of 47.2% year over year and earnings that beat expectations, though insiders have been selling shares in recent months.

Hinge Health (NYSE:HNGE - Get Free Report) had its price target increased by stock analysts at Truist Financial from $79.00 to $85.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's price objective would suggest a potential upside of 31.59% from the stock's current price.

Other equities research analysts have also issued reports about the company. KeyCorp set a $55.00 target price on Hinge Health in a research report on Wednesday, February 11th. Citigroup reaffirmed an "outperform" rating on shares of Hinge Health in a research report on Wednesday, May 6th. Weiss Ratings raised Hinge Health from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, May 6th. Needham & Company LLC increased their target price on Hinge Health from $63.00 to $76.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Zacks Research raised Hinge Health from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 13th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $70.80.

Hinge Health Price Performance

HNGE traded up $2.54 during trading hours on Thursday, hitting $64.60. 546,546 shares of the stock were exchanged, compared to its average volume of 1,326,589. The stock has a 50-day simple moving average of $49.42 and a 200-day simple moving average of $45.74. Hinge Health has a 12 month low of $30.08 and a 12 month high of $66.55. The stock has a market cap of $5.00 billion and a price-to-earnings ratio of -5.25.

Hinge Health (NYSE:HNGE - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $182.31 million for the quarter. During the same period in the prior year, the business earned $1.30 earnings per share. Hinge Health's quarterly revenue was up 47.2% on a year-over-year basis. Sell-side analysts expect that Hinge Health will post 1.21 EPS for the current year.

Insider Transactions at Hinge Health

In related news, Chairman Gabriel M.I. Mecklenburg sold 50,000 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $65.54, for a total value of $3,277,000.00. Following the transaction, the chairman directly owned 50,000 shares of the company's stock, valued at approximately $3,277,000. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Antonio Perez sold 45,456 shares of Hinge Health stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $55.05, for a total value of $2,502,352.80. Following the completion of the transaction, the chief executive officer directly owned 35,470 shares in the company, valued at approximately $1,952,623.50. This represents a 56.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 90 days. Company insiders own 18.92% of the company's stock.

Institutional Trading of Hinge Health

Institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN grew its stake in Hinge Health by 160.0% in the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company's stock valued at $25,000 after purchasing an additional 336 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Hinge Health in the fourth quarter valued at approximately $26,000. CENTRAL TRUST Co bought a new position in Hinge Health in the first quarter valued at approximately $37,000. First Horizon Corp grew its stake in Hinge Health by 163.9% in the fourth quarter. First Horizon Corp now owns 855 shares of the company's stock valued at $40,000 after purchasing an additional 531 shares in the last quarter. Finally, High Point Wealth Management LLC bought a new position in Hinge Health in the fourth quarter valued at approximately $46,000.

Hinge Health Company Profile

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.

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