Hinge Health (NYSE:HNGE) Reaches New 1-Year High – Still a Buy?

Hinge Health Inc. (NYSE:HNGE) shares reached a new 52-week high during trading on Monday . The stock traded as high as $91.50 and last traded at $89.6720, with a volume of 279554 shares changing hands. The stock had previously closed at $89.33.

Analyst Ratings Changes

HNGE has been the subject of a number of analyst reports. Royal Bank Of Canada boosted their price target on Hinge Health from $75.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Piper Sandler restated an “overweight” rating on shares of Hinge Health in a research note on Wednesday, June 10th. Citizens Jmp upped their price objective on shares of Hinge Health from $96.00 to $107.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 5th. Morgan Stanley increased their target price on shares of Hinge Health from $72.00 to $108.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Finally, Wall Street Zen cut shares of Hinge Health from a “buy” rating to a “hold” rating in a research note on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.64.

Hinge Health Price Performance

The company has a fifty day moving average price of $76.22 and a two-hundred day moving average price of $55.01. The firm has a market cap of $7.00 billion, a price-to-earnings ratio of 70.44 and a beta of 1.31.

Hinge Health (NYSE:HNGE) last released its earnings results 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. Hinge Health had a return on equity of 65.44% and a net margin of 15.15%.The firm had revenue of $212.82 million for the quarter. During the same period in the previous year, the firm earned $0.59 earnings per share. Hinge Health’s revenue was up 53.0% on a year-over-year basis. On average, research analysts expect that Hinge Health Inc. will post 1.37 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 stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $82.83, for a total transaction of $121,484,027.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $60.22, for a total transaction of $5,018,373.48. Following the sale, the chairman owned 83,334 shares of the company’s stock, valued at $5,018,373.48. 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 a total of 3,715,194 shares of company stock worth $287,886,932 in the last ninety days. Corporate insiders own 18.92% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BIT Capital GmbH lifted 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 valued at $154,033,000 after acquiring an additional 1,466,577 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Hinge Health by 110.5% in the 4th quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company’s stock valued at $121,027,000 after purchasing an additional 1,367,693 shares during the period. Tiger Global Management LLC lifted its position in shares of Hinge Health by 227.1% in the fourth quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company’s stock worth $83,877,000 after purchasing an additional 1,253,743 shares in the last quarter. Millennium Management LLC lifted its position in shares of 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 in the last quarter. Finally, Braidwell LP boosted its holdings in shares of Hinge Health by 43.3% during the fourth quarter. Braidwell LP now owns 1,304,623 shares of the company’s stock worth $60,600,000 after purchasing an additional 394,147 shares during the period.

About Hinge Health

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.