Hinge Health (NYSE:HNGE) Sets New 12-Month High – Here’s What Happened

Hinge Health Inc. (NYSE:HNGE) shares reached a new 52-week high on Monday. The stock traded as high as $104.34 and last traded at $102.90, with a volume of 1,850 shares traded. The stock had previously closed at $102.90.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HNGE. Needham & Company LLC lifted their target price on Hinge Health from $97.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, September 30th. Citizens Jmp upped their target price on Hinge Health from $96.00 to $107.00 and gave the company a “market outperform” rating in a report on Wednesday, August 5th. Bank of America assumed coverage on Hinge Health in a research report on Tuesday, September 29th. They issued a “buy” rating and a $110.00 price target for the company. Stifel Nicolaus lifted their price target on Hinge Health from $96.00 to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, September 8th. Finally, Citigroup restated an “outperform” rating on shares of Hinge Health in a report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $106.00.

Hinge Health Stock Up 0.3%

The business’s 50-day moving average price is $92.29 and its 200-day moving average price is $72.32. The firm has a market capitalization of $8.48 billion, a PE ratio of 81.26 and a beta of 1.37.

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

Insider Activity at Hinge Health

In other news, CEO Daniel Perez sold 4,100 shares of the business’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $100.20, for a total transaction of $410,820.00. Following the transaction, the chief executive officer directly owned 4,100 shares in the company, valued at $410,820. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Gabriel Mecklenburg sold 200,000 shares of the business’s stock in a transaction on Monday, October 12th. The shares were sold at an average price of $103.13, for a total transaction of $20,626,000.00. Following the transaction, the chairman owned 200,000 shares in the company, valued at approximately $20,626,000. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 1,024,581 shares of company stock worth $95,632,761. Corporate insiders own 18.92% of the company’s stock.

Institutional Trading of Hinge Health

A number of institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Hinge Health in the 4th quarter valued at approximately $26,000. IFP Advisors Inc raised its position in Hinge Health by 140.0% during the second quarter. IFP Advisors Inc now owns 324 shares of the company’s stock valued at $27,000 after acquiring an additional 189 shares in the last quarter. Nykredit A S bought a new position in Hinge Health during the second quarter valued at approximately $29,000. CENTRAL TRUST Co bought a new position in Hinge Health during the first quarter valued at approximately $37,000. Finally, State of Wyoming acquired a new stake in Hinge Health in the first quarter valued at approximately $110,000.

About Hinge Health

Hinge Health, Inc is a digital healthcare company focused on musculoskeletal (MSK) conditions, including back and joint pain. The company provides virtual care designed to help members manage pain, improve mobility and avoid or delay more invasive treatments.

Its platform combines a mobile application, motion-sensing technology, personalized exercise therapy, education and support from a care team that may include clinical specialists. Hinge Health offers programs for conditions such as chronic back pain, knee pain and other common MSK issues, with services generally provided through employers, health plans and other healthcare organizations.

Hinge Health was founded in 2015 and is headquartered in San Francisco, California.