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

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Weiss Ratings raised shares of Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Truist Financial increased their price target on shares of Hinge Health from $79.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Canaccord Genuity Group raised their price target on shares of Hinge Health from $65.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Robert W. Baird boosted their price objective on shares of Hinge Health from $55.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, June 17th. Finally, KeyCorp upped their price objective on shares of Hinge Health from $75.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $75.80.

Hinge Health Price Performance

The firm has a market cap of $6.94 billion, a P/E ratio of -7.26 and a beta of 1.13. The stock’s 50 day moving average is $60.90 and its two-hundred day moving average is $48.75.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.33. The firm had revenue of $182.31 million during the quarter. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The firm’s revenue for the quarter was up 47.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.30 EPS. As a group, research analysts forecast that Hinge Health Inc. will post 1.33 EPS for the current fiscal year.

Insider Transactions at Hinge Health

In related news, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the firm’s stock in a transaction that occurred on 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel Antonio Perez sold 104,544 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $55.09, for a total value of $5,759,328.96. Following the completion of the sale, the chief executive officer directly owned 35,470 shares in the company, valued at approximately $1,954,042.30. This represents a 74.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 3,528,262 shares of company stock valued at $262,276,568. Corporate insiders own 18.92% of the company’s stock.

Institutional Investors Weigh In On Hinge Health

Large investors have recently made changes to their positions in the company. Wells Fargo & Company MN increased its position in shares of Hinge Health by 160.0% during the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock worth $25,000 after purchasing an additional 336 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Hinge Health during the fourth quarter worth about $26,000. CENTRAL TRUST Co acquired a new stake in shares of Hinge Health during the first quarter worth approximately $37,000. First Horizon Corp increased its holdings in shares of Hinge Health by 163.9% during the fourth quarter. First Horizon Corp now owns 855 shares of the company’s stock worth $40,000 after buying an additional 531 shares in the last quarter. Finally, High Point Wealth Management LLC bought a new position in shares of Hinge Health in the fourth quarter valued at approximately $46,000.

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.