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

Hinge Health Inc. (NYSE:HNGE)’s share price reached a new 52-week high during mid-day trading on Monday. The stock traded as high as $113.48 and last traded at $112.0230, with a volume of 33,761 shares. The stock had previously closed at $111.52.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Weiss Ratings downgraded Hinge Health from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. KeyCorp increased their target price on Hinge Health from $125.00 to $140.00 and gave the company an “overweight” rating in a research note on Friday, October 16th. Canaccord Genuity Group set a $105.00 price objective on Hinge Health in a research note on Wednesday, August 5th. Robert W. Baird boosted their price objective on shares of Hinge Health from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Tuesday, September 22nd. Finally, Evercore reissued an “outperform” rating and set a $105.00 price target on shares of Hinge Health in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $108.00.

Hinge Health Stock Performance

The business has a 50 day simple moving average of $95.56 and a 200-day simple moving average of $76.17. The stock has a market capitalization of $9.05 billion, a P/E ratio of 87.71 and a beta of 1.37.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.31. Hinge Health had a return on equity of 51.60% and a net margin of 15.15%. The company had revenue of $212.82 million for the quarter. During the same period in the prior year, the firm posted $0.59 EPS. The firm’s quarterly revenue was up 53.0% on a year-over-year basis. Equities research analysts forecast that Hinge Health Inc. will post 1.25 EPS for the current fiscal year.

Insider Buying and Selling at Hinge Health

In related news, CFO James Budge sold 47,720 shares of Hinge Health stock in a transaction on Monday, October 12th. The stock was sold at an average price of $103.13, for a total value of $4,921,363.60. Following the transaction, the chief financial officer directly owned 296,728 shares in the company, valued at $30,601,558.64. The trade was a 13.85% decrease in their position. 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, President James Pursley sold 33,000 shares of the company’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $94.14, for a total value of $3,106,620.00. Following the sale, the president directly owned 666,909 shares of the company’s stock, valued at approximately $62,782,813.26. This represents a 4.71% 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 1,024,581 shares of company stock valued at $95,632,761 over the last quarter. Company insiders own 18.92% of the company’s stock.

Institutional Trading of Hinge Health

Several institutional investors and hedge funds have recently bought and sold shares of HNGE. 11.2 Capital Management LLC purchased a new position in shares of Hinge Health in the second quarter worth approximately $204,566,531. Assenagon Asset Management S.A. boosted its stake in Hinge Health by 2,141.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,854,922 shares of the company’s stock worth $180,373,000 after purchasing an additional 1,772,182 shares during the period. Wellington Management Group LLP boosted its stake in Hinge Health by 169.7% in the 2nd quarter. Wellington Management Group LLP now owns 1,205,584 shares of the company’s stock worth $100,063,000 after purchasing an additional 758,594 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Hinge Health by 225.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company’s stock worth $44,852,000 after purchasing an additional 806,007 shares in the last quarter. Finally, Estuary Capital Management LP purchased a new position in Hinge Health during the 1st quarter worth approximately $15,201,000.

About Hinge Health

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.