Hinge Health (NYSE:HNGE) Hits New 1-Year High – Here’s Why

Hinge Health Inc. (NYSE:HNGE)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $93.50 and last traded at $93.31, with a volume of 911642 shares changing hands. The stock had previously closed at $89.87.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HNGE. Raymond James Financial boosted their target price on shares of Hinge Health from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, June 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hinge Health in a report on Monday, August 3rd. Barclays increased their target price on shares of Hinge Health from $97.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Wall Street Zen lowered Hinge Health from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Citizens Jmp raised their price objective on Hinge Health from $96.00 to $107.00 and gave the company a “market outperform” rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $100.57.

Hinge Health Trading Up 3.6%

The stock’s fifty day simple moving average is $82.25 and its 200-day simple moving average is $59.24. The company has a market capitalization of $7.51 billion, a price-to-earnings ratio of 72.73 and a beta of 1.30.

Hinge Health (NYSE:HNGE) last released its earnings results on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.28 by $0.31. The firm 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 company’s revenue for the quarter was up 53.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 earnings per share. On average, analysts anticipate that Hinge Health Inc. will post 1.25 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Insight Holdings Group, Llc sold 181,499 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $90.20, for a total transaction of $16,371,209.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President James Pursley sold 33,000 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $88.05, for a total value of $2,905,650.00. Following the completion of the transaction, the president directly owned 706,235 shares in the company, valued at $62,183,991.75. This trade represents a 4.46% decrease in their position. 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 3,643,373 shares of company stock valued at $285,194,378 in the last 90 days. Company insiders own 18.92% of the company’s stock.

Hedge Funds Weigh In On Hinge Health

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets raised its stake in shares of Hinge Health by 162.7% during the 4th quarter. BNP Paribas Financial Markets now owns 727,672 shares of the company’s stock worth $33,800,000 after buying an additional 450,643 shares in the last quarter. UBS Group AG boosted its position in shares of Hinge Health by 168.8% during the 4th quarter. UBS Group AG now owns 356,701 shares of the company’s stock worth $16,569,000 after purchasing an additional 223,980 shares in the last quarter. Royce & Associates LP acquired a new position in shares of Hinge Health during the 4th quarter worth $2,091,000. Alkeon Capital Management LLC lifted its stake in shares of Hinge Health by 110.4% in the fourth quarter. Alkeon Capital Management LLC now owns 791,104 shares of the company’s stock valued at $36,747,000 after purchasing an additional 415,093 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Hinge Health by 755.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,354 shares of the company’s stock valued at $1,271,000 after purchasing an additional 24,155 shares during the period.

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.