Hinge Health Inc. (NYSE:HNGE – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $93.50 and last traded at $93.31, with a volume of 911642 shares. The stock had previously closed at $89.87.
Wall Street Analysts Forecast Growth
HNGE has been the topic of several research analyst reports. Morgan Stanley boosted their target price on shares of Hinge Health from $72.00 to $108.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Piper Sandler reiterated an “overweight” rating on shares of Hinge Health in a research note on Wednesday, June 10th. Citigroup reissued an “outperform” rating on shares of Hinge Health in a report on Monday, July 27th. Stifel Nicolaus set a $96.00 target price on shares of Hinge Health in a report on Wednesday, August 5th. Finally, Zacks Research downgraded shares of Hinge Health from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $100.57.
Read Our Latest Analysis on Hinge Health
Hinge Health Stock Up 2.4%
Hinge Health (NYSE:HNGE – Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.31. Hinge Health had a return on equity of 51.60% and a net margin of 15.15%.The business had revenue of $212.82 million during the quarter. During the same period last year, the firm earned $0.59 EPS. The company’s quarterly revenue was up 53.0% compared to the same quarter last year. On average, research analysts predict that Hinge Health Inc. will post 1.25 EPS for the current year.
Insider Transactions at Hinge Health
In other news, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $82.83, for a total value of $121,484,027.61. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $85.05, for a total transaction of $7,087,556.70. Following the transaction, the chairman directly owned 83,334 shares of the company’s stock, valued at approximately $7,087,556.70. This trade represents a 50.00% decrease in their ownership of the stock. 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 90 days, insiders have sold 3,643,373 shares of company stock valued at $285,194,378. 18.92% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Hinge Health
Institutional investors have recently made changes to their positions in the stock. Nykredit A S acquired a new stake in shares of Hinge Health during the second quarter valued at $29,000. Wells Fargo & Company MN lifted its stake in shares of Hinge Health by 160.0% during the fourth 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 period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Hinge Health during the fourth quarter worth $26,000. CENTRAL TRUST Co acquired a new stake in Hinge Health in the 1st quarter worth about $37,000. Finally, Comprehensive Financial Management LLC purchased a new stake in Hinge Health in the second quarter valued at approximately $212,000.
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.
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