Hinge Health (NYSE:HNGE) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Hinge Health (NYSE:HNGE) had its target price boosted by analysts at Canaccord Genuity Group from $76.00 to $100.00 in a research note issued on Tuesday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 26.57% from the company’s current price.

HNGE has been the topic of a number of other research reports. Morgan Stanley boosted their price objective on Hinge Health from $72.00 to $108.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Weiss Ratings raised Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. Wall Street Zen downgraded shares of Hinge Health from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 6th. Piper Sandler restated an “overweight” rating on shares of Hinge Health in a research report on Wednesday, June 10th. Finally, Royal Bank Of Canada boosted their target price on shares of Hinge Health from $65.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, June 11th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.27.

Hinge Health Stock Performance

HNGE opened at $79.01 on Tuesday. Hinge Health has a twelve month low of $30.08 and a twelve month high of $91.50. The firm has a market cap of $6.11 billion, a price-to-earnings ratio of -6.40 and a beta of 1.13. The firm’s 50-day simple moving average is $70.69 and its 200-day simple moving average is $52.37.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings data 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. The firm had revenue of $182.31 million for the quarter. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. Hinge Health’s quarterly revenue was up 47.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.30 earnings per share. As a group, sell-side analysts anticipate that Hinge Health will post 1.37 EPS for the current fiscal year.

Insider Activity

In other Hinge Health news, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $82.83, for a total value of $121,484,027.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Daniel Antonio Perez sold 104,544 shares of Hinge Health stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $55.09, for a total transaction of $5,759,328.96. Following the sale, the chief executive officer directly owned 35,470 shares of the company’s stock, valued at $1,954,042.30. This represents a 74.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 3,921,100 shares of company stock valued at $299,222,881. 18.92% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hinge Health

A number of institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets lifted its holdings in shares of Hinge Health by 162.7% during the 4th quarter. BNP Paribas Financial Markets now owns 727,672 shares of the company’s stock valued at $33,800,000 after purchasing an additional 450,643 shares in the last quarter. UBS Group AG raised its holdings in Hinge Health by 168.8% during the 4th quarter. UBS Group AG now owns 356,701 shares of the company’s stock worth $16,569,000 after buying an additional 223,980 shares during the period. Royce & Associates LP bought a new position in Hinge Health in the fourth quarter valued at approximately $2,091,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Hinge Health by 755.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,354 shares of the company’s stock valued at $1,271,000 after buying an additional 24,155 shares during the period. Finally, Alkeon Capital Management LLC boosted its holdings in shares of Hinge Health by 110.4% in the fourth quarter. Alkeon Capital Management LLC now owns 791,104 shares of the company’s stock valued at $36,747,000 after buying an additional 415,093 shares during the period.

About Hinge Health

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.