Hinge Health (NYSE:HNGE) Given New $97.00 Price Target at Needham & Company LLC

Hinge Health (NYSE:HNGE) had its price objective increased by investment analysts at Needham & Company LLC from $76.00 to $97.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 21.41% from the stock’s current price.

A number of other equities research analysts also recently commented on HNGE. Truist Financial raised their target price on Hinge Health from $79.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Zacks Research raised shares of Hinge Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Evercore reiterated an “outperform” rating and issued a $45.00 price target on shares of Hinge Health in a report on Wednesday, April 8th. Robert W. Baird raised their price objective on shares of Hinge Health from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, June 17th. Finally, KeyCorp boosted their price objective on shares of Hinge Health from $90.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $87.67.

Hinge Health Trading Up 2.9%

Shares of HNGE stock opened at $79.90 on Wednesday. The company has a market cap of $6.18 billion, a price-to-earnings ratio of -6.47 and a beta of 1.30. The stock has a 50 day simple moving average of $74.52 and a 200-day simple moving average of $54.18. Hinge Health has a 12-month low of $30.08 and a 12-month high of $91.50.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.31. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.The firm had revenue of $212.82 million for the quarter. During the same quarter last year, the firm earned $0.59 earnings per share. The firm’s quarterly revenue was up 53.0% compared to the same quarter last year. On average, equities analysts forecast that Hinge Health will post 1.37 earnings per share for the current fiscal year.

Insider Activity at Hinge Health

In other Hinge Health news, President James Pursley sold 33,000 shares of Hinge Health stock in a transaction dated Monday, June 22nd. The shares were 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. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Insight Holdings Group, Llc sold 181,499 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $90.20, for a total transaction of $16,371,209.80. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 3,766,556 shares of company stock valued at $290,713,052. Insiders own 18.92% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HNGE. BIT Capital GmbH lifted its stake in Hinge Health by 79.3% in the 4th quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock valued at $154,033,000 after buying an additional 1,466,577 shares in the last quarter. Vanguard Group Inc. grew its holdings in Hinge Health by 110.5% during the 4th quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company’s stock valued at $121,027,000 after buying an additional 1,367,693 shares during the last quarter. Tiger Global Management LLC increased its position in Hinge Health by 227.1% during the fourth quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company’s stock worth $83,877,000 after buying an additional 1,253,743 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Hinge Health in the fourth quarter worth $54,469,000. Finally, Millennium Management LLC raised its holdings in shares of Hinge Health by 225.0% in the fourth quarter. Millennium Management LLC now owns 1,479,642 shares of the company’s stock worth $68,729,000 after acquiring an additional 1,024,317 shares during the last quarter.

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.