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

Shares of Hinge Health Inc. (NYSE:HNGE) hit a new 52-week high during trading on Tuesday. The stock traded as high as $107.44 and last traded at $107.1660, with a volume of 85,691 shares traded. The stock had previously closed at $103.96.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on HNGE shares. Robert W. Baird boosted their price objective on Hinge Health from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Tuesday, September 22nd. Citizens Jmp increased their target price 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. Needham & Company LLC boosted their price target on shares of Hinge Health from $97.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, September 30th. Wells Fargo & Company upped their price target on shares of Hinge Health from $90.00 to $103.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Finally, Morgan Stanley raised their price objective on shares of Hinge Health from $72.00 to $108.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $107.00.

Hinge Health Trading Up 3.1%

The company’s fifty day simple moving average is $93.75 and its 200 day simple moving average is $74.16. The stock has a market capitalization of $8.65 billion, a P/E ratio of 83.75 and a beta of 1.37.

Hinge Health (NYSE:HNGE) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.31. The firm had revenue of $212.82 million for the quarter. Hinge Health had a net margin of 15.15% and a return on equity of 51.60%. 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 company posted $0.59 EPS. Equities research analysts predict that Hinge Health Inc. will post 1.25 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO James Budge sold 55,561 shares of Hinge Health stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $89.45, for a total transaction of $4,969,931.45. Following the completion of the sale, the chief financial officer owned 349,062 shares in the company, valued at approximately $31,223,595.90. This trade represents a 13.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Perez sold 150,000 shares of the business’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $89.44, for a total value of $13,416,000.00. Following the transaction, the chief executive officer directly owned 35,470 shares of the company’s stock, valued at $3,172,436.80. The trade was a 80.88% decrease in their position. 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 1,024,581 shares of company stock valued at $95,632,761 over the last 90 days. 18.92% of the stock is owned by insiders.

Institutional Investors Weigh In On Hinge Health

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. 11.2 Capital Management LLC bought a new stake in Hinge Health during the second quarter valued at approximately $204,566,531. Assenagon Asset Management S.A. increased its holdings in shares of Hinge Health by 2,141.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,854,922 shares of the company’s stock worth $180,373,000 after buying an additional 1,772,182 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Hinge Health by 169.7% in the 2nd quarter. Wellington Management Group LLP now owns 1,205,584 shares of the company’s stock worth $100,063,000 after buying an additional 758,594 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Hinge Health by 225.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,163,187 shares of the company’s stock valued at $44,852,000 after buying an additional 806,007 shares in the last quarter. Finally, Estuary Capital Management LP purchased a new stake in shares of Hinge Health during the 1st quarter valued at $15,201,000.

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.