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 trading on Monday. The company traded as high as $113.48 and last traded at $112.0230, with a volume of 33,761 shares trading hands. The stock had previously closed at $111.52.

Analysts Set New Price Targets

Several research analysts have recently weighed in on HNGE shares. Citizens Jmp boosted their price target on shares of Hinge Health from $96.00 to $107.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 5th. Barclays lifted their price target on shares of Hinge Health from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. Wall Street Zen lowered shares of Hinge Health from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Morgan Stanley lifted their target price on shares of Hinge Health from $72.00 to $108.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Finally, Weiss Ratings lowered Hinge Health from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Hinge Health has a consensus rating of “Moderate Buy” and a consensus price target of $108.00.

Hinge Health Stock Up 0.6%

The company has a fifty day moving average of $95.56 and a two-hundred day moving average of $76.17. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of 87.71 and a beta of 1.37.

Hinge Health (NYSE:HNGE) last posted its quarterly 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 net margin of 15.15% and a return on equity of 51.60%. Hinge Health’s revenue was up 53.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.59 earnings per share. Equities analysts anticipate that Hinge Health Inc. will post 1.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO James Budge sold 55,561 shares of the stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $89.45, for a total transaction of $4,969,931.45. Following the transaction, the chief financial officer directly owned 349,062 shares in the company, valued at $31,223,595.90. This represents a 13.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $88.05, for a total transaction of $2,905,650.00. Following the completion of the sale, the president owned 706,235 shares of the company’s stock, valued at approximately $62,183,991.75. The trade was a 4.46% decrease in their ownership of the stock. 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. Over the last ninety days, insiders have sold 1,024,581 shares of company stock valued at $95,632,761. 18.92% of the stock is owned by company insiders.

Institutional Trading of Hinge Health

Several institutional investors have recently made changes to their positions in the stock. Capelight Capital Asset Management LP acquired a new stake in Hinge Health during the 3rd quarter worth approximately $1,848,000. Sterling Capital Management LLC lifted its holdings in shares of Hinge Health by 899.3% during the 3rd quarter. Sterling Capital Management LLC now owns 1,469 shares of the company’s stock valued at $143,000 after acquiring an additional 1,322 shares in the last quarter. Inspire Investing LLC purchased a new stake in Hinge Health during the 3rd quarter worth $376,000. SBI Securities Co. Ltd. raised its position in Hinge Health by 39.5% in the third quarter. SBI Securities Co. Ltd. now owns 364 shares of the company’s stock valued at $35,000 after purchasing an additional 103 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Hinge Health by 270.3% during the third quarter. Nisa Investment Advisors LLC now owns 2,577 shares of the company’s stock worth $251,000 after purchasing an additional 1,881 shares in the last quarter.

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.