Hinge Health (NYSE:HNGE) Hits New 1-Year High – Here’s Why

Hinge Health Inc. (NYSE:HNGE)’s share price reached a new 52-week high on Saturday . The company traded as high as $66.55 and last traded at $63.4770, with a volume of 2407733 shares traded. The stock had previously closed at $62.98.

Trending Headlines about Hinge Health

Here are the key news stories impacting Hinge Health this week:

• Positive Sentiment: Canaccord Genuity raised its price target on Hinge Health to $65 from $63 and reiterated a buy rating, reinforcing a constructive analyst view on the stock. Article Title
• Positive Sentiment: Other recent commentary also stayed upbeat, including technical coverage pointing to a “golden cross,” which can attract momentum investors. Article Title
• Positive Sentiment: Hinge Health’s last earnings report beat estimates, with revenue up 47.2% year over year, supporting the view that the business is still growing rapidly. Article Title
• Neutral Sentiment: One article highlighted Hinge Health as a promising mid-cap healthcare name, but it did not include a new catalyst beyond a generally favorable long-term investment case. Article Title
• Negative Sentiment: Chairman Gabriel M.I. Mecklenburg disclosed another large insider sale of 50,000 shares at $65.54, adding to a series of recent sales and potentially creating some overhang for sentiment. Article Title

Wall Street Analyst Weigh In

A number of equities analysts have commented on HNGE shares. Citigroup restated an “outperform” rating on shares of Hinge Health in a research note on Wednesday, May 6th. Stifel Nicolaus upped their target price on shares of Hinge Health from $59.00 to $67.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Wall Street Zen downgraded shares of Hinge Health from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Barclays upped their target price on shares of Hinge Health from $52.00 to $62.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Canaccord Genuity Group upped their target price on shares of Hinge Health from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.53.

Hinge Health Stock Up 0.8%

The company has a market capitalization of $4.91 billion and a price-to-earnings ratio of -5.14. The company’s 50 day simple moving average is $47.93 and its two-hundred day simple moving average is $45.31.

Hinge Health (NYSE:HNGE) last announced its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.33. The company had revenue of $182.31 million during the quarter. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. Hinge Health’s revenue was up 47.2% on a year-over-year basis. During the same quarter last year, the business earned $1.30 earnings per share. Analysts anticipate that Hinge Health Inc. will post 1.21 EPS for the current year.

Insider Activity

In other Hinge Health news, Chairman Gabriel M.I. Mecklenburg sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $65.54, for a total value of $3,277,000.00. Following the completion of the sale, the chairman directly owned 50,000 shares in the company, valued at $3,277,000. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Antonio Perez sold 45,456 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $55.05, for a total transaction of $2,502,352.80. Following the completion of the sale, the chief executive officer owned 35,470 shares of the company’s stock, valued at approximately $1,952,623.50. This trade represents a 56.17% 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. Insiders have sold 554,600 shares of company stock valued at $29,859,068 in the last ninety days. 18.92% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC raised its holdings in shares of Hinge Health by 3.3% in the first quarter. Janney Montgomery Scott LLC now owns 9,400 shares of the company’s stock worth $362,000 after buying an additional 300 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Hinge Health by 160.0% in 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 during the last quarter. Lazard Asset Management LLC raised its holdings 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 buying an additional 386 shares during the last quarter. First Horizon Corp raised its holdings in shares of Hinge Health by 163.9% in the fourth quarter. First Horizon Corp now owns 855 shares of the company’s stock worth $40,000 after buying an additional 531 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Hinge Health in the fourth quarter worth $26,000.

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.