Hinge Health (NYSE:HNGE) Sets New 52-Week High – Time to Buy?

Hinge Health Inc. (NYSE:HNGE)’s stock price reached a new 52-week high during trading on Tuesday. The company traded as high as $107.44 and last traded at $107.1660, with a volume of 85,691 shares changing hands. The stock had previously closed at $103.96.

Analyst Upgrades and Downgrades

Several research firms recently commented on HNGE. Robert W. Baird lifted their price objective on Hinge Health from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Tuesday, September 22nd. Needham & Company LLC upped their target price on shares of Hinge Health from $97.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, September 30th. Truist Financial lifted their price target on shares of Hinge Health from $85.00 to $112.00 and gave the company a “buy” rating in a report on Monday, August 10th. Bank of America assumed coverage on shares of Hinge Health in a report on Tuesday, September 29th. They issued a “buy” rating and a $110.00 target price on the stock. Finally, Citizens Jmp boosted 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. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Hinge Health has an average rating of “Moderate Buy” and an average target price of $107.00.

Hinge Health Stock Up 4.2%

The stock has a market capitalization of $9.04 billion, a P/E ratio of 87.52 and a beta of 1.37. The stock’s 50 day moving average price is $94.64 and its 200-day moving average price is $75.16.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.31. The business had revenue of $212.82 million for the quarter. Hinge Health had a return on equity of 51.60% and a net margin of 15.15%. The company’s revenue 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. Analysts anticipate that Hinge Health Inc. will post 1.25 earnings per share for the current year.

Insider Activity at Hinge Health

In related news, CFO James Budge sold 55,561 shares of the company’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $89.45, for a total value of $4,969,931.45. Following the transaction, the chief financial officer directly owned 349,062 shares of the company’s stock, valued at $31,223,595.90. This represents a 13.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Gabriel Mecklenburg sold 250,000 shares of Hinge Health stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $88.97, for a total value of $22,242,500.00. Following the sale, the chairman directly owned 250,000 shares of the company’s stock, valued at $22,242,500. This trade represents a 50.00% decrease in their position. 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 three months, 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

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc boosted its stake in shares of Hinge Health by 140.0% during the 2nd quarter. IFP Advisors Inc now owns 324 shares of the company’s stock worth $27,000 after acquiring an additional 189 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Hinge Health by 3.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 9,400 shares of the company’s stock worth $362,000 after buying an additional 300 shares in the last quarter. Nykredit A S purchased a new position in shares of Hinge Health in the second quarter valued at approximately $29,000. Lazard Asset Management LLC boosted its stake in shares of Hinge Health by 0.6% in the first quarter. Lazard Asset Management LLC now owns 63,705 shares of the company’s stock worth $2,456,000 after acquiring an additional 386 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Hinge Health during the fourth quarter worth approximately $26,000.

Hinge Health Company Profile

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

Its platform combines personalized exercise therapy, behavioral support, education and access to clinical professionals. Hinge Health also uses technologies such as motion-sensing wearable devices and artificial intelligence to help guide exercises, monitor progress and tailor care plans to individual needs.

Hinge Health primarily serves employers and health plans, which offer its programs to eligible members in the United States.