Hinge Health (NYSE:HNGE) Sets New 12-Month High – Should You Buy?

Hinge Health Inc. (NYSE:HNGE – Get Free Report) shares hit a new 52-week high during trading on Tuesday. The stock traded as high as $97.95 and last traded at $94.3050, with a volume of 157292 shares trading hands. The stock had previously closed at $92.45.

Analysts Set New Price Targets

Several research firms have recently weighed in on HNGE. Morgan Stanley boosted their price target on Hinge Health from $72.00 to $108.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. KeyCorp increased their price objective on Hinge Health from $90.00 to $125.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Weiss Ratings upgraded Hinge Health from a “sell (d-)” rating to a “hold (c)” rating in a report on Tuesday, September 22nd. Stifel Nicolaus boosted their target price on Hinge Health from $96.00 to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, September 8th. Finally, Bank of America initiated coverage on shares of Hinge Health in a research note on Tuesday. They set a “buy” rating and a $110.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Hinge Health currently has an average rating of “Moderate Buy” and a consensus price target of $104.13.

Get Our Latest Report on Hinge Health

Hinge Health Price Performance

The firm has a market capitalization of $7.43 billion, a PE ratio of 72.25 and a beta of 1.38. The firm has a 50-day simple moving average of $87.36 and a 200-day simple moving average of $67.98.

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, beating analysts’ consensus estimates 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 quarter in the prior year, the firm earned $0.59 earnings per share. The company’s revenue for the quarter was up 53.0% compared to the same quarter last year. Equities analysts expect that Hinge Health Inc. will post 1.25 earnings per share for the current year.

Insider Activity at Hinge Health

In other news, Director Kristina M. Leslie sold 1,200 shares of Hinge Health stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $88.23, for a total transaction of $105,876.00. Following the transaction, the director owned 30,387 shares in the company, valued at $2,681,045.01. This trade represents a 3.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Daniel Perez sold 150,000 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $89.44, for a total transaction of $13,416,000.00. Following the sale, the chief executive officer directly owned 35,470 shares of the company’s stock, valued at approximately $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 sold a total of 1,282,266 shares of company stock valued at $115,210,099 in the last three months. Corporate insiders own 18.92% of the company’s stock.

Hedge Funds Weigh In On Hinge Health

Institutional investors and hedge funds have recently bought and sold shares of the stock. BIT Capital GmbH grew its holdings in Hinge Health by 79.3% during the fourth quarter. BIT Capital GmbH now owns 3,316,101 shares of the company’s stock valued at $154,033,000 after purchasing an additional 1,466,577 shares during the period. 11.2 Capital Management LLC purchased a new position in shares of Hinge Health during the 2nd quarter valued at about $204,566,531. Wellington Management Group LLP lifted its position in shares of Hinge Health by 169.7% during the 2nd quarter. Wellington Management Group LLP now owns 1,205,584 shares of the company’s stock valued at $100,063,000 after buying an additional 758,594 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake 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 acquiring an additional 806,007 shares during the period. Finally, Alkeon Capital Management LLC increased its holdings in Hinge Health by 110.4% in the 4th quarter. Alkeon Capital Management LLC now owns 791,104 shares of the company’s stock worth $36,747,000 after acquiring an additional 415,093 shares in the last quarter.

About Hinge Health

(Get Free Report)

Hinge Health, Inc is a digital health company focused on musculoskeletal care. The company provides virtual programs designed to help people manage and improve conditions affecting the back, joints and other areas of the musculoskeletal system, with the goal of supporting conservative care and reducing the need for more invasive treatment.

Its platform combines personalized exercise therapy, digital tools, clinical guidance and behavioral support. Depending on the program, members may use the Hinge Health mobile application, wearable motion sensors and remote care from physical therapists, health coaches and other clinicians.

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