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

Hinge Health Inc. (NYSE:HNGE)’s stock price reached a new 52-week high during trading on Monday . The company 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.

Wall Street Analyst Weigh In

A number of analysts have issued reports on HNGE shares. Stifel Nicolaus set a $79.00 price objective on shares of Hinge Health in a report on Wednesday, June 10th. 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. Canaccord Genuity Group boosted their price target on Hinge Health from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Weiss Ratings raised Hinge Health from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Finally, Citizens Jmp lifted their price objective on Hinge Health from $65.00 to $80.00 and gave the company a “market outperform” rating in a report on Wednesday, May 6th. 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 assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.80.

Hinge Health Stock Performance

The stock has a market capitalization of $6.45 billion and a P/E ratio of -6.76. The stock’s fifty day simple moving average is $58.49 and its two-hundred day simple moving average is $48.00.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company’s revenue was up 47.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.30 earnings per share. As a group, analysts expect 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 the firm’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Gabriel M.I. Mecklenburg sold 50,000 shares of Hinge Health stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $65.54, for a total value of $3,277,000.00. Following the transaction, the chairman directly owned 50,000 shares in the company, valued at $3,277,000. The trade was a 50.00% 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. Insiders sold 3,444,928 shares of company stock worth $255,189,011 over the last three months. Company insiders own 18.92% of the company’s stock.

Hedge Funds Weigh In On Hinge Health

A number of hedge funds have recently bought and sold shares of the company. BIT Capital GmbH grew its position in shares of Hinge Health by 79.3% during the 4th quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock worth $154,033,000 after buying an additional 1,466,577 shares during the period. Vanguard Group Inc. boosted its stake in Hinge Health by 110.5% during the fourth quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company’s stock worth $121,027,000 after acquiring an additional 1,367,693 shares in the last quarter. Tiger Global Management LLC boosted its stake in Hinge Health by 227.1% during the fourth quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company’s stock worth $83,877,000 after acquiring an additional 1,253,743 shares in the last quarter. Millennium Management LLC grew its holdings in Hinge Health by 225.0% in 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 increased its stake in Hinge Health by 43.3% in 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.