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

Hinge Health Inc. (NYSE:HNGE) hit a new 52-week high during trading on Wednesday . The company traded as high as $95.62 and last traded at $95.1060, with a volume of 201729 shares trading hands. The stock had previously closed at $92.39.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HNGE. Needham & Company LLC raised their price target on Hinge Health from $76.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada raised their price objective on shares of Hinge Health from $75.00 to $110.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Morgan Stanley boosted their target price on shares of Hinge Health from $72.00 to $108.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Hinge Health in a research note on Monday, August 3rd. Finally, Citizens Jmp raised their price target on shares of Hinge Health from $96.00 to $107.00 and gave the company a “market outperform” rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.93.

Hinge Health Trading Up 2.4%

The stock has a fifty day moving average price of $86.33 and a 200 day moving average price of $64.89. The firm has a market cap of $7.64 billion, a price-to-earnings ratio of 74.01 and a beta of 1.38.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.28 by $0.31. The company 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 for the quarter was up 53.0% on a year-over-year basis. During the same quarter last year, the business earned $0.59 EPS. On average, sell-side analysts forecast that Hinge Health Inc. will post 1.25 EPS for the current year.

Insider Buying and Selling

In related news, President James Pursley sold 33,000 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $88.05, for a total transaction of $2,905,650.00. Following the completion of the transaction, the president owned 706,235 shares of the company’s stock, valued at approximately $62,183,991.75. The trade was a 4.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Perez sold 100,000 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $89.45, for a total value of $8,945,000.00. Following the sale, the chief executive officer owned 45,000 shares of the company’s stock, valued at approximately $4,025,250. The trade was a 68.97% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 4,150,019 shares of company stock valued at $335,841,156 in the last quarter. Insiders own 18.92% of the company’s stock.

Hedge Funds Weigh In On Hinge Health

A number of institutional investors and hedge funds have recently bought and sold shares of HNGE. 11.2 Capital Management LLC acquired a new position in Hinge Health during the 2nd quarter valued at $204,566,531. BIT Capital GmbH raised its position in shares of Hinge Health by 79.3% during the fourth quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock valued at $154,033,000 after buying an additional 1,466,577 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of 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 buying an additional 758,594 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in Hinge Health by 225.7% during 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 during the period. Finally, Alkeon Capital Management LLC increased its stake in Hinge Health by 110.4% during the fourth quarter. Alkeon Capital Management LLC now owns 791,104 shares of the company’s stock valued at $36,747,000 after acquiring an additional 415,093 shares during the period.

About Hinge Health

Hinge Health, Inc is a digital health company focused on musculoskeletal care. The company provides virtual programs designed to help people manage and improve conditions affecting the back, joints and other areas of the musculoskeletal system, with the goal of supporting conservative care and reducing the need for more invasive treatment.

Its platform combines personalized exercise therapy, digital tools, clinical guidance and behavioral support. Depending on the program, members may use the Hinge Health mobile application, wearable motion sensors and remote care from physical therapists, health coaches and other clinicians.