Hinge Health (NYSE:HNGE) Price Target Raised to $59.00

Key Points

• Needham & Company LLC has raised its price target for Hinge Health (NYSE:HNGE) from $47.00 to $59.00, indicating a potential upside of 20.93% from the previous close.
• Analysts are bullish on Hinge Health, with 15 "buy" ratings and one "strong buy," while the average target price is $53.07.
• Institutional investors have recently increased their positions in Hinge Health, with notable investments totaling over $1.8 million during the 2nd quarter.

Hinge Health (NYSE:HNGE - Get Free Report) had its target price hoisted by equities researchers at Needham & Company LLC from $47.00 to $59.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's price objective suggests a potential upside of 3.73% from the company's previous close.

Several other analysts have also recently issued reports on HNGE. KeyCorp upped their price objective on Hinge Health from $45.00 to $60.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Truist Financial began coverage on Hinge Health in a research note on Monday, June 16th. They set a "buy" rating and a $48.00 price objective on the stock. Morgan Stanley lifted their price objective on shares of Hinge Health from $46.00 to $57.00 and gave the stock an "overweight" rating in a report on Wednesday. Citizens Jmp began coverage on shares of Hinge Health in a research report on Monday, July 14th. They issued a "strong-buy" rating and a $58.00 price target on the stock. Finally, Piper Sandler began 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. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $55.71.

Hinge Health Price Performance

HNGE stock traded down $3.47 during mid-day trading on Wednesday, hitting $56.88. 1,295,753 shares of the company were exchanged, compared to its average volume of 761,884. The stock's fifty day moving average is $44.44. Hinge Health has a twelve month low of $33.42 and a twelve month high of $62.00.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Montag A & Associates Inc. bought a new stake in shares of Hinge Health in the 2nd quarter worth approximately $41,000. SBI Securities Co. Ltd. purchased a new position in shares of Hinge Health in the second quarter worth approximately $48,000. PNC Financial Services Group Inc. purchased a new stake in shares of Hinge Health in the 2nd quarter valued at approximately $71,000. Emerald Advisers LLC acquired a new position in Hinge Health in the 2nd quarter worth approximately $108,000. Finally, Mark Sheptoff Financial Planning LLC purchased a new position in Hinge Health during the 2nd quarter worth approximately $114,000.

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.