Canaccord Genuity analyst Richard Close maintained a Buy rating on Hinge Health, Inc. Class A yesterday and set a price target of $61.00.
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Richard Close has given his Buy rating due to a combination of factors that highlight Hinge Health’s strategic initiatives and growth potential. The introduction of HingeSelect, a new offering that merges digital interfaces with in-person musculoskeletal (MSK) care, is a significant development. This initiative is driven by customer demand and aims to create a curated provider network in major metropolitan areas, potentially offering substantial cost savings. The company’s proactive approach to building this network, despite the initial inconvenience to members, indicates a strong commitment to enhancing service quality and accessibility.
Additionally, Hinge Health’s strategic investment plans for the latter half of 2025 suggest a promising growth trajectory. The company is leveraging its operational efficiency to make modest investments that could lead to upside results. By expanding its provider sales team and focusing on building a comprehensive MSK care network, Hinge Health is positioning itself as a comprehensive solution for employers seeking to address the MSK needs of their workforce. These strategic moves, coupled with the company’s strong operational leverage, underpin Richard Close’s positive outlook and Buy rating.
In another report released on August 6, Needham also maintained a Buy rating on the stock with a $59.00 price target.