Analysts Set Hinge Health Inc. (NYSE:HNGE) PT at $59.93

by · The Cerbat Gem

Shares of Hinge Health Inc. (NYSE:HNGE – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the nineteen analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, fifteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $59.9333.

A number of brokerages recently weighed in on HNGE. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hinge Health in a research note on Wednesday, October 8th. Morgan Stanley lifted their price objective on shares of Hinge Health from $57.00 to $67.00 and gave the stock an “overweight” rating in a report on Tuesday, September 23rd. Canaccord Genuity Group upped their target price on shares of Hinge Health from $61.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Stifel Nicolaus raised their price target on Hinge Health from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, September 11th. Finally, Evercore ISI lifted their price target on Hinge Health from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th.

Check Out Our Latest Stock Report on HNGE

Insider Buying and Selling

In related news, major shareholder Insight Holdings Group, Llc sold 1,654,440 shares of the stock in a transaction on Monday, December 1st. The shares were sold at an average price of $47.76, for a total transaction of $79,016,054.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kristina M. Leslie sold 1,250 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $45.68, for a total transaction of $57,100.00. Following the completion of the sale, the director directly owned 27,750 shares of the company’s stock, valued at $1,267,620. This represents a 4.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,446,279 shares of company stock worth $111,164,327 in the last ninety days.

Hedge Funds Weigh In On Hinge Health

A number of large investors have recently bought and sold shares of HNGE. CHURCHILL MANAGEMENT Corp purchased a new stake in shares of Hinge Health during the second quarter valued at approximately $828,000. FNY Investment Advisers LLC bought a new stake in Hinge Health during the 2nd quarter valued at $310,000. Strategic Blueprint LLC purchased a new stake in Hinge Health during the 2nd quarter valued at $346,000. Emerald Advisers LLC bought a new stake in Hinge Health in the 2nd quarter worth $108,000. Finally, Mark Sheptoff Financial Planning LLC bought a new stake in Hinge Health in the 2nd quarter worth $114,000.

Hinge Health Trading Up 0.4%

Shares of HNGE stock opened at $49.67 on Monday. Hinge Health has a 52-week low of $33.42 and a 52-week high of $62.18. The stock has a fifty day simple moving average of $48.23.

Hinge Health (NYSE:HNGE – Get Free Report) last announced its earnings results on Tuesday, November 4th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.18. The business had revenue of $154.21 million during the quarter, compared to the consensus estimate of $142.44 million. The business’s quarterly revenue was up 53.3% on a year-over-year basis.

Hinge Health declared that its board has approved a stock repurchase program on Wednesday, November 12th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 7.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

About Hinge Health

(Get Free Report)

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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