Hinge Health (NYSE:HNGE) Stock Rating Upgraded by Baird R W

Key Points

• Hinge Health's stock rating has been upgraded to "hold" by Baird R W, reflecting changing investor sentiment.
• The consensus rating for Hinge Health is "Moderate Buy" with a target price of $55.73, with several analysts recently increasing their price targets significantly.
• Large institutional investors are actively acquiring shares in Hinge Health, indicating growing confidence in the company’s prospects.

Hinge Health (NYSE:HNGE - Get Free Report) was upgraded by equities researchers at Baird R W to a "hold" rating in a note issued to investors on Friday,Zacks.com reports.

Several other equities research analysts also recently weighed in on the stock. Raymond James Financial began coverage on shares of Hinge Health in a research note on Monday, June 16th. They issued an "outperform" rating and a $45.00 target price for the company. Needham & Company LLC raised their target price on shares of Hinge Health from $47.00 to $59.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Royal Bank Of Canada began coverage on shares of Hinge Health in a research note on Monday, June 16th. They issued an "outperform" rating and a $45.00 target price for the company. Truist Financial began coverage on shares of Hinge Health in a research note on Monday, June 16th. They issued a "buy" rating and a $48.00 target price for the company. Finally, Bank of America raised their target price on shares of Hinge Health from $42.00 to $64.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.73.

Hinge Health Stock Performance

NYSE HNGE opened at $54.90 on Friday. The company's 50 day simple moving average is $51.13. Hinge Health has a 52-week low of $33.42 and a 52-week high of $62.18.

Institutional Investors Weigh In On Hinge Health

Large investors have recently modified their holdings of the company. State of Tennessee Department of Treasury purchased a new position in shares of Hinge Health in the 2nd quarter valued at $432,000. Sandler Capital Management purchased a new stake in shares of Hinge Health during the second quarter worth about $2,691,000. Oxford Asset Management LLP purchased a new stake in shares of Hinge Health during the second quarter worth about $363,000. Man Group plc acquired a new stake in shares of Hinge Health in the second quarter worth approximately $267,000. Finally, LMR Partners LLP acquired a new position in Hinge Health during the second quarter valued at approximately $2,846,000.

About Hinge Health

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.

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