Hinge Health (NYSE:HNGE) Hits New 52-Week High – Still a Buy?

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

Analyst Ratings Changes

Several research firms have issued reports on HNGE. Piper Sandler reaffirmed an “overweight” rating on shares of Hinge Health in a report on Wednesday, June 10th. Needham & Company LLC raised their price objective on Hinge Health from $76.00 to $97.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Robert W. Baird lifted their target price on Hinge Health from $55.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, June 17th. Zacks Research downgraded Hinge Health from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen lowered Hinge Health from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $101.93.

Hinge Health Stock Performance

The business’s 50 day moving average is $86.53 and its 200 day moving average is $65.61. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of 74.03 and a beta of 1.38.

Hinge Health (NYSE:HNGE) last released its 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 company had revenue of $212.82 million during the quarter. Hinge Health had a return on equity of 51.60% and a net margin of 15.15%.Hinge Health’s revenue for the quarter was up 53.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.59 EPS. Research analysts expect that Hinge Health Inc. will post 1.25 earnings per share for the current year.

Insider Transactions at Hinge Health

In other news, Director Kristina M. Leslie sold 1,200 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $88.23, for a total value of $105,876.00. Following the transaction, the director owned 30,387 shares in the company, valued at $2,681,045.01. This represents a 3.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel Perez sold 100,000 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $89.45, for a total transaction of $8,945,000.00. Following the completion of the sale, the chief executive officer directly owned 45,000 shares of the company’s stock, valued at $4,025,250. This trade represents a 68.97% 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. In the last 90 days, insiders sold 4,150,019 shares of company stock worth $335,841,156. 18.92% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

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.