Hinge Health (NYSE:HNGE) Sets New 52-Week High – Here’s What Happened

Hinge Health Inc. (NYSE:HNGE) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $70.78 and last traded at $70.8970, with a volume of 283625 shares traded. The stock had previously closed at $69.42.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on HNGE shares. Barclays increased their price target on Hinge Health from $62.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. Canaccord Genuity Group lifted their price objective on Hinge Health from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Needham & Company LLC upped their target price on Hinge Health from $63.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Evercore reiterated an “outperform” rating and set a $45.00 target price on shares of Hinge Health in a research report on Wednesday, April 8th. Finally, Citizens Jmp raised their price target on Hinge Health from $65.00 to $80.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $75.13.

Hinge Health Price Performance

The stock has a market cap of $5.34 billion and a PE ratio of -5.60. The stock has a 50-day simple moving average of $53.46 and a 200-day simple moving average of $46.69.

Hinge Health (NYSE:HNGE) last posted its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.33. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The firm had revenue of $182.31 million during the quarter. During the same period last year, the company posted $1.30 EPS. The firm’s revenue for the quarter was up 47.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Hinge Health Inc. will post 1.33 EPS for the current year.

Insider Buying and Selling

In other Hinge Health news, President James Pursley sold 16,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $53.79, for a total value of $860,640.00. Following the completion of the transaction, the president directly owned 780,223 shares of the company’s stock, valued at $41,968,195.17. This represents a 2.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Insight Holdings Group, Llc sold 65,581 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $70.36, for a total value of $4,614,279.16. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 594,175 shares of company stock valued at $33,374,333. Insiders own 18.92% of the company’s stock.

Institutional Investors Weigh In On Hinge Health

Several institutional investors and hedge funds have recently made changes to their positions in HNGE. BNP Paribas Financial Markets raised its stake in shares of Hinge Health by 162.7% during the 4th quarter. BNP Paribas Financial Markets now owns 727,672 shares of the company’s stock worth $33,800,000 after purchasing an additional 450,643 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Hinge Health by 22.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,237,839 shares of the company’s stock valued at $60,753,000 after buying an additional 228,234 shares in the last quarter. UBS Group AG increased its holdings in Hinge Health by 168.8% in the fourth quarter. UBS Group AG now owns 356,701 shares of the company’s stock worth $16,569,000 after buying an additional 223,980 shares during the last quarter. Tudor Investment Corp ET AL increased its holdings in Hinge Health by 25.9% in the third quarter. Tudor Investment Corp ET AL now owns 376,266 shares of the company’s stock worth $18,467,000 after buying an additional 77,464 shares during the last quarter. Finally, First Eagle Investment Management LLC bought a new position in Hinge Health during the third quarter valued at approximately $4,074,000.

Hinge Health Company Profile

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.