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 on Monday . The stock traded as high as $70.78 and last traded at $70.8970, with a volume of 283625 shares changing hands. The stock had previously closed at $69.42.

Analyst Ratings Changes

Several research firms recently issued reports on HNGE. KeyCorp raised their price objective on shares of Hinge Health from $75.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Zacks Research upgraded shares of Hinge Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Wells Fargo & Company reissued an “overweight” rating and issued a $90.00 price target on shares of Hinge Health in a research note on Tuesday. Canaccord Genuity Group raised their price target on shares of Hinge Health from $65.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, June 15th. Finally, Evercore reaffirmed an “outperform” rating and set a $45.00 price target on shares of Hinge Health in a research report on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Hinge Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.80.

Hinge Health Stock Performance

The stock has a market capitalization of $5.42 billion and a price-to-earnings ratio of -5.67. The business has a 50-day moving average of $54.80 and a 200-day moving average of $47.01.

Hinge Health (NYSE:HNGE) last posted its earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, beating 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 company’s quarterly revenue was up 47.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.30 EPS. Equities analysts predict that Hinge Health Inc. will post 1.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, President James Pursley sold 33,000 shares of Hinge Health stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $69.31, for a total value of $2,287,230.00. Following the completion of the sale, the president owned 740,897 shares in the company, valued at approximately $51,351,571.07. This trade represents a 4.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 that occurred on Friday, June 5th. The shares were sold at an average price of $65.54, for a total value of $3,277,000.00. Following the completion of the sale, the chairman directly owned 50,000 shares in the company, valued at approximately $3,277,000. The trade was a 50.00% 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. In the last ninety days, insiders sold 627,175 shares of company stock worth $35,661,563. Insiders own 18.92% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. BIT Capital GmbH raised its holdings in shares of Hinge Health by 79.3% in the 4th quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock valued at $154,033,000 after buying an additional 1,466,577 shares during the period. Vanguard Group Inc. lifted its stake in Hinge Health by 110.5% during the 4th quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company’s stock worth $121,027,000 after acquiring an additional 1,367,693 shares in the last quarter. Tiger Global Management LLC boosted its holdings in Hinge Health by 227.1% during the 4th quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company’s stock valued at $83,877,000 after acquiring an additional 1,253,743 shares during the period. Millennium Management LLC boosted its holdings in Hinge Health by 225.0% during the 4th quarter. Millennium Management LLC now owns 1,479,642 shares of the company’s stock valued at $68,729,000 after acquiring an additional 1,024,317 shares during the period. Finally, Braidwell LP grew its position in Hinge Health by 43.3% in the 4th quarter. Braidwell LP now owns 1,304,623 shares of the company’s stock valued at $60,600,000 after acquiring an additional 394,147 shares in 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.