Hinge Health (NYSE:HNGE) Sets New 52-Week High – What’s Next?

Hinge Health Inc. (NYSE:HNGE)’s stock price hit a new 52-week high during mid-day trading on Monday. The stock traded as high as $99.73 and last traded at $98.6050, with a volume of 973880 shares trading hands. The stock had previously closed at $97.67.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wells Fargo & Company lifted their price target on Hinge Health from $90.00 to $103.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Barclays upped their price objective on shares of Hinge Health from $97.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Royal Bank Of Canada raised their price objective on shares of Hinge Health from $75.00 to $110.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Truist Financial lifted their target price on shares of Hinge Health from $85.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Finally, Bank of America assumed coverage on shares of Hinge Health in a report on Tuesday, September 29th. They issued a “buy” rating and a $110.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $105.33.

Hinge Health Trading Down 0.1%

The firm’s fifty day moving average price is $89.76 and its 200 day moving average price is $70.22. The stock has a market capitalization of $7.93 billion, a price-to-earnings ratio of 76.78 and a beta of 1.37.

Hinge Health (NYSE:HNGE) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.31. Hinge Health had a net margin of 15.15% and a return on equity of 51.60%. The firm had revenue of $212.82 million during the quarter. During the same period in the previous year, the business posted $0.59 EPS. The business’s revenue for the quarter was up 53.0% on a year-over-year basis. On average, analysts forecast that Hinge Health Inc. will post 1.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, President James Pursley sold 33,000 shares of the business’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $94.14, for a total value of $3,106,620.00. Following the sale, the president owned 666,909 shares in the company, valued at approximately $62,782,813.26. The trade was a 4.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Gabriel Mecklenburg sold 150,000 shares of the firm’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $93.22, for a total value of $13,983,000.00. Following the transaction, the chairman owned 150,000 shares of the company’s stock, valued at $13,983,000. This trade represents a 50.00% decrease in their ownership of the stock. 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 three months, insiders sold 954,260 shares of company stock valued at $86,045,787. Insiders own 18.92% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Argent Capital Management LLC purchased a new stake in Hinge Health during the 3rd quarter worth approximately $3,376,000. Tidal Investments LLC purchased a new position in Hinge Health in the 2nd quarter valued at approximately $925,000. Van Hulzen Asset Management LLC grew its stake in shares of Hinge Health by 69.0% in the second quarter. Van Hulzen Asset Management LLC now owns 13,473 shares of the company’s stock worth $1,118,000 after acquiring an additional 5,500 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of Hinge Health in the second quarter worth $373,000. Finally, IFP Advisors Inc increased its position in shares of Hinge Health by 140.0% during the second quarter. IFP Advisors Inc now owns 324 shares of the company’s stock worth $27,000 after acquiring an additional 189 shares during the period.

Hinge Health Company Profile

Hinge Health, Inc is a digital healthcare company focused on musculoskeletal (MSK) conditions, including back and joint pain. The company provides virtual care designed to help members manage pain, improve mobility and avoid or delay more invasive treatments.

Its platform combines a mobile application, motion-sensing technology, personalized exercise therapy, education and support from a care team that may include clinical specialists. Hinge Health offers programs for conditions such as chronic back pain, knee pain and other common MSK issues, with services generally provided through employers, health plans and other healthcare organizations.

Hinge Health was founded in 2015 and is headquartered in San Francisco, California.