Hinge Health (NYSE:HNGE) Hits New 1-Year High – Still a Buy?

Hinge Health Inc. (NYSE:HNGE)’s stock price hit a new 52-week high on Monday . The company traded as high as $79.26 and last traded at $78.1940, with a volume of 7191 shares traded. The stock had previously closed at $78.97.

Analysts Set New Price Targets

HNGE has been the topic of a number of recent analyst reports. Truist Financial raised their price target on shares of Hinge Health from $79.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Piper Sandler restated an “overweight” rating on shares of Hinge Health in a research report on Wednesday, June 10th. Wall Street Zen cut shares of Hinge Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Robert W. Baird lifted their target price on shares of Hinge Health from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 17th. Finally, Wells Fargo & Company boosted their target price on shares of Hinge Health from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, June 23rd. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Hinge Health has an average rating of “Moderate Buy” and a consensus target price of $75.80.

Hinge Health Trading Up 5.5%

The firm has a market capitalization of $6.45 billion and a P/E ratio of -6.72. The stock has a 50 day simple moving average of $56.92 and a 200-day simple moving average of $47.54.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings data 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 company had revenue of $182.31 million for the quarter. During the same period in the previous year, the business posted $1.30 EPS. The business’s quarterly revenue was up 47.2% compared to the same quarter last year. As a group, sell-side analysts expect that Hinge Health Inc. will post 1.33 earnings per share for the current fiscal year.

Insider Transactions at Hinge Health

In related news, major shareholder Insight Holdings Group, Llc sold 390,917 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $71.15, for a total value of $27,813,744.55. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of Hinge Health stock in a transaction on Monday, June 1st. The shares were sold at an average price of $60.22, for a total value of $5,018,373.48. Following the transaction, the chairman owned 83,334 shares in the company, valued at $5,018,373.48. This trade represents a 50.00% 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. Insiders have sold 1,497,279 shares of company stock worth $97,492,856 in the last 90 days. 18.92% of the stock is currently owned by insiders.

Institutional Trading of Hinge Health

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC raised its stake 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 period. Wells Fargo & Company MN grew its stake in shares of Hinge Health by 160.0% during the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock valued at $25,000 after acquiring an additional 336 shares during the period. Lazard Asset Management LLC increased its holdings in Hinge Health by 0.6% in the 1st 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 in the last quarter. First Horizon Corp increased its holdings in Hinge Health by 163.9% in the 4th quarter. First Horizon Corp now owns 855 shares of the company’s stock worth $40,000 after acquiring an additional 531 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Hinge Health during the 4th quarter worth approximately $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.