Hinge Health (NYSE:HNGE) Reaches New 12-Month High – Still a Buy?

Shares of Hinge Health Inc. (NYSE:HNGE) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $93.50 and last traded at $93.31, with a volume of 911642 shares changing hands. The stock had previously closed at $89.87.

Analyst Ratings Changes

Several brokerages have recently commented on HNGE. Zacks Research lowered Hinge Health from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Barclays lifted their price objective on Hinge Health from $97.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. KeyCorp boosted their target price on Hinge Health from $90.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Citigroup restated an “outperform” rating on shares of Hinge Health in a research report on Monday, July 27th. Finally, Piper Sandler restated an “overweight” rating on shares of Hinge Health in a report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $100.57.

Hinge Health Stock Performance

The company has a fifty day simple moving average of $82.25 and a two-hundred day simple moving average of $59.24. The company has a market capitalization of $7.51 billion, a price-to-earnings ratio of 72.73 and a beta of 1.30.

Hinge Health (NYSE:HNGE) last released its earnings results on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.28 by $0.31. Hinge Health had a return on equity of 51.60% and a net margin of 15.15%.The firm had revenue of $212.82 million during the quarter. During the same quarter in the previous year, the company posted $0.59 earnings per share. The business’s revenue for the quarter was up 53.0% compared to the same quarter last year. As a group, analysts expect that Hinge Health Inc. will post 1.25 EPS for the current year.

Insider Activity at Hinge Health

In other Hinge Health news, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of Hinge Health stock in a transaction 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 document filed with the SEC, which is available at the SEC website. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $85.05, for a total transaction of $7,087,556.70. Following the sale, the chairman directly owned 83,334 shares of the company’s stock, valued at $7,087,556.70. This represents a 50.00% 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. Insiders have sold 3,643,373 shares of company stock valued at $285,194,378 in the last ninety days. 18.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hinge Health

Several institutional investors and hedge funds have recently made changes to their positions in HNGE. Wells Fargo & Company MN grew its position in shares of Hinge Health by 160.0% during the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock worth $25,000 after buying an additional 336 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Hinge Health in the fourth quarter valued at $26,000. Nykredit A S acquired a new stake in Hinge Health in the second quarter valued at $29,000. CENTRAL TRUST Co bought a new position in Hinge Health during the 1st quarter valued at $37,000. Finally, State of Wyoming bought a new position in Hinge Health during the 1st quarter valued at $110,000.

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.