Hinge Health (NYSE:HNGE) Hits New 12-Month Low – Should You Sell?

Hinge Health Inc. (NYSE:HNGE)’s stock price hit a new 52-week low on Tuesday . The company traded as low as $33.03 and last traded at $33.2950, with a volume of 407526 shares trading hands. The stock had previously closed at $35.23.

Wall Street Analysts Forecast Growth

HNGE has been the topic of a number of recent analyst reports. Piper Sandler reduced their price target on shares of Hinge Health from $71.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, January 9th. Barclays lowered their price target on Hinge Health from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, January 5th. Wells Fargo & Company started coverage on Hinge Health in a research report on Thursday, January 8th. They issued an “overweight” rating and a $68.00 price objective for the company. Wall Street Zen cut Hinge Health from a “buy” rating to a “hold” rating in a research note on Sunday, December 28th. Finally, Freedom Capital raised shares of Hinge Health to a “strong-buy” rating in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $60.06.

Hinge Health Stock Performance

The stock has a 50-day moving average of $46.06 and a 200-day moving average of $49.53. The firm has a market cap of $2.61 billion and a price-to-earnings ratio of -2.52.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.18. The business had revenue of $154.21 million for the quarter, compared to the consensus estimate of $142.44 million. Hinge Health’s revenue was up 53.3% on a year-over-year basis.

Hinge Health announced that its board has initiated a share repurchase plan on Wednesday, November 12th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 7.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Activity

In related news, major shareholder Insight Holdings Group, Llc sold 1,654,440 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $47.76, for a total value of $79,016,054.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Daniel Antonio Perez sold 166,670 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $48.53, for a total transaction of $8,088,495.10. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 2,805,105 shares of company stock valued at $128,216,614.

Institutional Investors Weigh In On Hinge Health

Several hedge funds have recently bought and sold shares of the company. First Horizon Corp grew its holdings in Hinge Health by 163.9% during the fourth quarter. First Horizon Corp now owns 855 shares of the company’s stock worth $40,000 after purchasing an additional 531 shares during the period. Sandler Capital Management increased its holdings in shares of Hinge Health by 1.4% in the third quarter. Sandler Capital Management now owns 52,728 shares of the company’s stock valued at $2,588,000 after purchasing an additional 728 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Hinge Health in the third quarter valued at about $37,000. Montag A & Associates Inc. acquired a new stake in shares of Hinge Health during the 2nd quarter worth about $41,000. Finally, Jones Financial Companies Lllp grew its stake in Hinge Health by 348.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,120 shares of the company’s stock valued at $54,000 after buying an additional 870 shares during the last quarter.

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.