Hinge Health (NYSE:HNGE) Hits New 52-Week High – Time to Buy?

Hinge Health Inc. (NYSE:HNGEGet Free Report)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $88.10 and last traded at $88.8170, with a volume of 301067 shares changing hands. The stock had previously closed at $84.05.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HNGE. Raymond James Financial increased their price objective on Hinge Health from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. Canaccord Genuity Group boosted their target price on Hinge Health from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Piper Sandler reaffirmed an “overweight” rating on shares of Hinge Health in a research report on Wednesday, June 10th. Zacks Research raised Hinge Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Finally, Royal Bank Of Canada lifted their price target on Hinge Health from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, June 11th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Hinge Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.80.

Get Our Latest Research Report on HNGE

Hinge Health Trading Up 6.6%

The business’s fifty day moving average price is $60.90 and its two-hundred day moving average price is $48.75. The firm has a market cap of $6.94 billion, a P/E ratio of -7.26 and a beta of 1.13.

Hinge Health (NYSE:HNGEGet Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.33. The firm had revenue of $182.31 million during the quarter. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The company’s revenue for the quarter was up 47.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.30 earnings per share. Research analysts predict that Hinge Health Inc. will post 1.33 EPS for the current fiscal year.

Insider Transactions at Hinge Health

In other news, President James Pursley sold 33,000 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $69.31, for a total transaction 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 represents a 4.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $85.05, for a total value of $7,087,556.70. Following the transaction, the chairman directly owned 83,334 shares in the company, valued at approximately $7,087,556.70. This represents a 50.00% 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. In the last quarter, insiders sold 3,528,262 shares of company stock worth $262,276,568. 18.92% of the stock is owned by corporate insiders.

Institutional Trading of Hinge Health

Large investors have recently modified their holdings of the company. Wells Fargo & Company MN grew its stake in Hinge Health by 160.0% in the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock valued at $25,000 after buying an additional 336 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Hinge Health in the fourth quarter worth about $26,000. First Horizon Corp increased its stake in shares of Hinge Health by 163.9% in 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. CENTRAL TRUST Co acquired a new position in shares of Hinge Health during the 1st quarter worth about $37,000. Finally, High Point Wealth Management LLC bought a new stake in Hinge Health during the 4th quarter valued at approximately $46,000.

About Hinge Health

(Get Free Report)

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.

Further Reading

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