Hinge Health (NYSE:HNGE) Sets New 52-Week High – Here’s What Happened

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 $70.78 and last traded at $70.8970, with a volume of 283625 shares trading hands. The stock had previously closed at $69.42.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Needham & Company LLC lifted their target price on Hinge Health from $63.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Robert W. Baird raised their price objective on shares of Hinge Health from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, June 17th. Royal Bank Of Canada lifted their price objective 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. Citizens Jmp upped their target price on shares of Hinge Health from $65.00 to $80.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 6th. Finally, Piper Sandler reissued an “overweight” rating on shares of Hinge Health in a research report on Wednesday, June 10th. Two equities research 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $75.13.

Hinge Health Stock Performance

The stock’s 50-day simple moving average is $53.46 and its 200 day simple moving average is $46.69. The company has a market capitalization of $5.34 billion and a PE ratio of -5.60.

Hinge Health (NYSE:HNGE) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.33. The company had revenue of $182.31 million for 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% compared to the same quarter last year. During the same period in the previous year, the business posted $1.30 EPS. On average, analysts expect that Hinge Health Inc. will post 1.33 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Daniel Antonio Perez sold 45,456 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $55.05, for a total transaction of $2,502,352.80. Following the transaction, the chief executive officer directly owned 35,470 shares of the company’s stock, valued at $1,952,623.50. This represents a 56.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Gabriel M.I. Mecklenburg sold 50,000 shares of the business’s stock in a transaction on 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 sale, the chairman owned 50,000 shares in the company, valued at approximately $3,277,000. The trade was a 50.00% 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. Insiders have sold 594,175 shares of company stock valued at $33,374,333 in the last 90 days. Company insiders own 18.92% of the company’s stock.

Hedge Funds Weigh In On Hinge Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its position in Hinge Health by 160.0% during the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock worth $25,000 after buying an additional 336 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Hinge Health in the fourth quarter valued at $26,000. First Horizon Corp boosted its stake in shares of Hinge Health by 163.9% during the fourth quarter. First Horizon Corp now owns 855 shares of the company’s stock valued at $40,000 after acquiring an additional 531 shares during the last quarter. CENTRAL TRUST Co purchased a new stake in Hinge Health during the 1st quarter worth about $37,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Hinge Health during the 3rd quarter worth about $49,000.

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.