Hinge Health (NYSE:HNGE) Price Target Raised to $100.00 at Canaccord Genuity Group

Hinge Health (NYSE:HNGE) had its target price hoisted by stock analysts at Canaccord Genuity Group from $76.00 to $100.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 14.25% from the stock’s current price.

HNGE has been the subject of several other reports. Zacks Research upgraded Hinge Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Evercore restated an “outperform” rating and issued a $45.00 price target on shares of Hinge Health in a research note on Wednesday, April 8th. KeyCorp upped their price target on shares of Hinge Health from $90.00 to $125.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Wall Street Zen lowered shares of Hinge Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Finally, Citigroup restated an “outperform” rating on shares of Hinge Health in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Hinge Health presently has an average rating of “Moderate Buy” and an average price target of $84.27.

Hinge Health Stock Performance

Shares of NYSE HNGE opened at $87.53 on Tuesday. Hinge Health has a 1 year low of $30.08 and a 1 year high of $91.50. The stock’s 50-day simple moving average is $69.60 and its 200-day simple moving average is $51.88. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of -7.09 and a beta of 1.13.

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, beating analysts’ consensus estimates 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 during the quarter. During the same quarter last year, the business earned $1.30 EPS. Hinge Health’s revenue for the quarter was up 47.2% compared to the same quarter last year. As a group, research analysts predict that Hinge Health will post 1.37 EPS for the current year.

Insiders Place Their Bets

In other Hinge Health news, major shareholder Insight Holdings Group, Llc sold 181,499 shares of the stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $90.20, for a total transaction of $16,371,209.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President James Pursley sold 33,000 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $69.31, for a total transaction of $2,287,230.00. Following the completion of the transaction, the president owned 740,897 shares in the company, valued at approximately $51,351,571.07. The trade was a 4.26% decrease in their ownership of the stock. 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. Over the last three months, insiders have sold 3,921,100 shares of company stock valued at $299,222,881. Company insiders own 18.92% of the company’s stock.

Hedge Funds Weigh In On Hinge Health

Several institutional investors have recently made changes to their positions in the stock. Vista Investment Partners LLC acquired a new stake in shares of Hinge Health during the 2nd quarter worth approximately $3,468,000. Assenagon Asset Management S.A. acquired a new position in Hinge Health during the 2nd quarter valued at approximately $6,867,000. California State Teachers Retirement System grew its stake in Hinge Health by 35.2% during the 1st quarter. California State Teachers Retirement System now owns 19,141 shares of the company’s stock worth $738,000 after buying an additional 4,986 shares during the last quarter. Estuary Capital Management LP bought a new position in Hinge Health during the 1st quarter worth $15,201,000. Finally, Lazard Asset Management LLC increased its position in Hinge Health by 0.6% in the first quarter. Lazard Asset Management LLC now owns 63,705 shares of the company’s stock worth $2,456,000 after buying an additional 386 shares during the period.

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.