Hinge Health (NYSE:HNGE) Reaches New 12-Month High – Time to Buy?

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

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Raymond James Financial boosted their price objective on shares of Hinge Health from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, June 15th. Needham & Company LLC increased their price objective on Hinge Health from $63.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Royal Bank Of Canada boosted their target price on shares of Hinge Health from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, June 11th. KeyCorp increased their price target on shares of Hinge Health from $75.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Finally, Wells Fargo & Company lifted their price target on shares of Hinge Health from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $75.80.

Hinge Health Stock Performance

The stock has a 50-day moving average of $56.92 and a two-hundred day moving average of $47.54. The company has a market cap of $6.45 billion and a P/E ratio of -6.72.

Hinge Health (NYSE:HNGE) last released its earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.12 by $0.33. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.The business had revenue of $182.31 million for the quarter. During the same period last year, the firm posted $1.30 earnings per share. The company’s revenue was up 47.2% compared to the same quarter last year. Research analysts predict that Hinge Health Inc. will post 1.33 EPS for the current year.

Insider Buying and Selling

In related news, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $60.22, for a total transaction of $5,018,373.48. Following the sale, the chairman directly owned 83,334 shares of the company’s stock, valued at approximately $5,018,373.48. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Insight Holdings Group, Llc sold 390,917 shares of Hinge Health stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $71.15, for a total transaction of $27,813,744.55. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,497,279 shares of company stock worth $97,492,856 in the last quarter. Corporate insiders own 18.92% of the company’s stock.

Hedge Funds Weigh In On Hinge Health

A number of hedge funds have recently added to or reduced their stakes in HNGE. Marshall Wace LLP purchased a new stake in Hinge Health during the 2nd quarter valued at $367,000. Sei Investments Co. purchased a new position in shares of Hinge Health in the second quarter worth $869,000. Squarepoint Ops LLC bought a new position in shares of Hinge Health during the second quarter valued at $19,706,000. Raymond James Financial Inc. bought a new position in shares of Hinge Health during the second quarter valued at $3,258,000. Finally, Sandia Investment Management LP purchased a new stake in shares of Hinge Health during the second quarter valued at $657,000.

About Hinge Health

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.