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

Hinge Health Inc. (NYSE:HNGE) reached a new 52-week high during trading on Wednesday. The company traded as high as $126.40 and last traded at $123.3160, with a volume of 78,777 shares. The stock had previously closed at $123.23.

Wall Street Analyst Weigh In

Several analysts have recently commented on HNGE shares. Citizens Jmp raised their price objective on shares of Hinge Health from $96.00 to $107.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 5th. Morgan Stanley upped their target price on shares of Hinge Health from $117.00 to $131.00 and gave the stock an “overweight” rating in a report on Tuesday, November 3rd. Robert W. Baird upped their target price on shares of Hinge Health from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, September 22nd. Truist Financial increased their price target on Hinge Health from $112.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, November 3rd. Finally, Wells Fargo & Company raised their price target on Hinge Health from $103.00 to $132.00 and gave the company an “overweight” rating in a report on Tuesday, November 3rd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Hinge Health currently has a consensus rating of “Buy” and an average price target of $118.93.

Hinge Health Price Performance

The firm’s 50-day moving average is $102.11 and its two-hundred day moving average is $69.64. The company has a market cap of $9.90 billion, a P/E ratio of 62.49, a PEG ratio of 1.72 and a beta of 1.19.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings results on Monday, November 2nd. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.44. The firm had revenue of $234.97 million during the quarter. Hinge Health had a net margin of 21.02% and a return on equity of 73.91%. The firm’s revenue was up 52.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.02) EPS. As a group, sell-side analysts expect that Hinge Health Inc. will post 1.56 EPS for the current year.

Insiders Place Their Bets

In other Hinge Health news, CEO Daniel Perez sold 4,100 shares of Hinge Health stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $100.20, for a total transaction of $410,820.00. Following the completion of the sale, the chief executive officer directly owned 4,100 shares of the company’s stock, valued at $410,820. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO James Budge sold 47,720 shares of the company’s stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $103.13, for a total transaction of $4,921,363.60. Following the completion of the sale, the chief financial officer directly owned 296,728 shares of the company’s stock, valued at approximately $30,601,558.64. This trade represents a 13.85% 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. In the last ninety days, insiders have sold 1,024,581 shares of company stock worth $95,632,761. 18.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hinge Health

A number of large investors have recently added to or reduced their stakes in HNGE. 11.2 Capital Management LLC bought a new position in shares of Hinge Health during the 2nd quarter worth approximately $204,566,531. Assenagon Asset Management S.A. lifted its position in Hinge Health by 2,141.9% during the third quarter. Assenagon Asset Management S.A. now owns 1,854,922 shares of the company’s stock valued at $180,373,000 after acquiring an additional 1,772,182 shares during the last quarter. Voya Investment Management LLC boosted its stake in Hinge Health by 53.8% in the third quarter. Voya Investment Management LLC now owns 1,196,896 shares of the company’s stock valued at $116,386,000 after acquiring an additional 418,728 shares in the last quarter. Wellington Management Group LLP boosted its stake in Hinge Health by 169.7% in the second quarter. Wellington Management Group LLP now owns 1,205,584 shares of the company’s stock valued at $100,063,000 after acquiring an additional 758,594 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Hinge Health by 225.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company’s stock valued at $44,852,000 after acquiring an additional 806,007 shares in the last quarter.

Hinge Health Company Profile

Hinge Health is a digital health company focused on musculoskeletal care, including support for people with back, joint and muscle pain. Its services are designed to help members manage conditions through personalized, technology-enabled care. The company’s offerings include app-based exercise therapy, education and behavioral support, along with access to clinical care teams. Hinge Health also uses wearable motion sensors in some programs to guide and track exercises. Founded in 2015, Hinge Health primarily provides its services through employers and health plans.