Hinge Health (NYSE:HNGE) Sets New 52-Week High – Still a 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 $118.74 and last traded at $117.8360, with a volume of 410,996 shares changing hands. The stock had previously closed at $114.32.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HNGE. Royal Bank Of Canada lifted their price objective on shares of Hinge Health from $75.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Citizens Jmp raised their price target on shares of Hinge Health from $96.00 to $107.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 5th. Canaccord Genuity Group set a $105.00 price target on shares of Hinge Health in a report on Wednesday, August 5th. Citigroup reaffirmed an “outperform” rating on shares of Hinge Health in a research report on Monday, July 27th. Finally, Stifel Nicolaus increased their price objective on shares of Hinge Health from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, October 26th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Hinge Health presently has a consensus rating of “Moderate Buy” and an average target price of $108.00.

Hinge Health Price Performance

The stock has a fifty day moving average price of $98.13 and a two-hundred day moving average price of $67.01. The company has a market cap of $9.38 billion, a P/E ratio of 91.12 and a beta of 1.37.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.31. The business had revenue of $212.82 million during the quarter. Hinge Health had a return on equity of 51.60% and a net margin of 15.15%. The business’s quarterly revenue was up 53.0% compared to the same quarter last year. During the same period last year, the company earned $0.59 earnings per share. As a group, analysts forecast that Hinge Health Inc. will post 1.25 earnings per share for the current year.

Insider Activity at Hinge Health

In other Hinge Health news, CFO James Budge sold 55,561 shares of the firm’s 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 owned 349,062 shares of the company’s stock, valued at approximately $31,223,595.90. This trade represents a 13.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Perez sold 150,000 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $89.44, for a total transaction of $13,416,000.00. Following the completion of the transaction, the chief executive officer owned 35,470 shares of the company’s stock, valued at $3,172,436.80. This trade represents a 80.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 1,024,581 shares of company stock worth $95,632,761. 18.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hinge Health

Several large investors have recently made changes to their positions in HNGE. SBI Securities Co. Ltd. raised its holdings in shares of Hinge Health by 39.5% in the 3rd quarter. SBI Securities Co. Ltd. now owns 364 shares of the company’s stock worth $35,000 after purchasing an additional 103 shares in the last quarter. ProShare Advisors LLC grew its position in Hinge Health by 2.1% in the third quarter. ProShare Advisors LLC now owns 5,588 shares of the company’s stock worth $543,000 after buying an additional 117 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Hinge Health by 140.0% in the second quarter. IFP Advisors Inc now owns 324 shares of the company’s stock valued at $27,000 after buying an additional 189 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Hinge Health by 3.3% in the first quarter. Janney Montgomery Scott LLC now owns 9,400 shares of the company’s stock valued at $362,000 after buying an additional 300 shares in the last quarter. Finally, Nykredit A S acquired a new stake in shares of Hinge Health during the 2nd quarter valued at $29,000.

Hinge Health Company Profile

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.