Hinge Health (NYSE:HNGE) Reaches New 52-Week High – Should You Buy?

Shares of Hinge Health Inc. (NYSE:HNGE) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $88.10 and last traded at $88.8170, with a volume of 301067 shares changing hands. The stock had previously closed at $84.05.

Wall Street Analyst Weigh In

HNGE has been the topic of several analyst reports. KeyCorp increased their target price on shares of Hinge Health from $75.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Raymond James Financial increased their price objective on Hinge Health from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, June 15th. Evercore reissued an “outperform” rating and issued a $45.00 price objective on shares of Hinge Health in a research note on Wednesday, April 8th. Stifel Nicolaus set a $79.00 target price on Hinge Health in a report on Wednesday, June 10th. Finally, Wells Fargo & Company increased their price target on Hinge Health from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $75.80.

Hinge Health Price Performance

The company has a market capitalization of $6.92 billion, a price-to-earnings ratio of -7.24 and a beta of 1.13. The business has a fifty day moving average price of $62.71 and a 200 day moving average price of $49.32.

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

Insider Activity at Hinge Health

In related news, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of Hinge Health stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $82.83, for a total transaction of $121,484,027.61. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President James Pursley sold 33,000 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $69.31, for a total value of $2,287,230.00. Following the completion of the transaction, the president directly owned 740,897 shares of the company’s stock, valued at approximately $51,351,571.07. This trade represents a 4.26% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 3,528,262 shares of company stock worth $262,276,568. Company insiders own 18.92% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. BIT Capital GmbH increased its holdings in Hinge Health by 79.3% in the 4th 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 period. Vanguard Group Inc. increased its stake in Hinge Health by 110.5% in the fourth quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company’s stock valued at $121,027,000 after acquiring an additional 1,367,693 shares during the period. Tiger Global Management LLC raised its position in Hinge Health by 227.1% in the fourth quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company’s stock worth $83,877,000 after purchasing an additional 1,253,743 shares in the last quarter. Millennium Management LLC lifted its stake in Hinge Health by 225.0% during the fourth quarter. Millennium Management LLC now owns 1,479,642 shares of the company’s stock worth $68,729,000 after purchasing an additional 1,024,317 shares during the period. Finally, Braidwell LP boosted its holdings in Hinge Health by 43.3% during the fourth quarter. Braidwell LP now owns 1,304,623 shares of the company’s stock valued at $60,600,000 after purchasing an additional 394,147 shares in the last quarter.

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.