Hinge Health (NYSE:HNGE) Hits New 1-Year High - Here's Why

Key Points

• Hinge Health hit a new 52-week high, with shares reaching $66.55 as bullish sentiment built around the stock.
• Analysts remain constructive: Canaccord Genuity raised its price target to $65 and reiterated a buy rating, while several other firms also maintained positive ratings and higher targets.
• The company’s latest earnings beat expectations, with revenue up 47.2% year over year; however, recent insider selling, including by the chairman, president, and CEO, may weigh on sentiment.

Hinge Health Inc. (NYSE:HNGE - Get Free Report)'s share price hit a new 52-week high on Saturday . The stock traded as high as $66.55 and last traded at $63.4770, with a volume of 2407733 shares. The stock had previously closed at $62.98.

Key Headlines Impacting Hinge Health

Here are the key news stories impacting Hinge Health this week:

• Positive Sentiment: Canaccord Genuity raised its price target on Hinge Health to $65 from $63 and reiterated a buy rating, reinforcing a constructive analyst view on the stock. Article Title
• Positive Sentiment: Other recent commentary also stayed upbeat, including technical coverage pointing to a “golden cross,” which can attract momentum investors. Article Title
• Positive Sentiment: Hinge Health’s last earnings report beat estimates, with revenue up 47.2% year over year, supporting the view that the business is still growing rapidly. Article Title
• Neutral Sentiment: One article highlighted Hinge Health as a promising mid-cap healthcare name, but it did not include a new catalyst beyond a generally favorable long-term investment case. Article Title
• Negative Sentiment: Chairman Gabriel M.I. Mecklenburg disclosed another large insider sale of 50,000 shares at $65.54, adding to a series of recent sales and potentially creating some overhang for sentiment. Article Title

Analysts Set New Price Targets

Several brokerages recently weighed in on HNGE. Truist Financial set a $79.00 target price on shares of Hinge Health in a report on Wednesday, May 6th. Royal Bank Of Canada upped their target price on shares of Hinge Health from $55.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday, May 6th. Evercore reaffirmed an "outperform" rating and issued a $45.00 target price on shares of Hinge Health in a report on Wednesday, April 8th. Piper Sandler reaffirmed an "overweight" rating and issued a $95.00 target price on shares of Hinge Health in a report on Wednesday, May 6th. Finally, Canaccord Genuity Group upped their target price on shares of Hinge Health from $63.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $67.53.

Hinge Health Stock Performance

The firm's fifty day simple moving average is $47.93 and its 200 day simple moving average is $45.31. The firm has a market cap of $4.91 billion and a P/E ratio of -5.14.

Hinge Health (NYSE:HNGE - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.12 by $0.33. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The business had revenue of $182.31 million during the quarter. During the same period last year, the company earned $1.30 EPS. The firm's revenue for the quarter was up 47.2% on a year-over-year basis. On average, equities research analysts predict that Hinge Health Inc. will post 1.21 earnings per share for the current year.

Insider Buying and Selling at Hinge Health

In other news, President James Pursley sold 16,000 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $53.79, for a total transaction of $860,640.00. Following the sale, the president directly owned 780,223 shares in the company, valued at approximately $41,968,195.17. This represents a 2.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Antonio Perez sold 104,544 shares of the company's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $55.09, for a total transaction of $5,759,328.96. Following the sale, the chief executive officer owned 35,470 shares in the company, valued at $1,954,042.30. This represents a 74.67% 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. Insiders sold 554,600 shares of company stock valued at $29,859,068 in the last 90 days. Insiders own 18.92% of the company's stock.

Institutional Trading of Hinge Health

Several hedge funds have recently made changes to their positions in the business. BIT Capital GmbH raised its position in Hinge Health by 79.3% in the 4th quarter. BIT Capital GmbH now owns 3,316,101 shares of the company's stock worth $154,033,000 after purchasing an additional 1,466,577 shares during the period. Vanguard Group Inc. raised its position in Hinge Health by 110.5% in the 4th quarter. Vanguard Group Inc. now owns 2,605,532 shares of the company's stock worth $121,027,000 after purchasing an additional 1,367,693 shares during the period. Tiger Global Management LLC raised its position in Hinge Health by 227.1% in the 4th quarter. Tiger Global Management LLC now owns 1,805,751 shares of the company's stock worth $83,877,000 after purchasing an additional 1,253,743 shares during the period. Millennium Management LLC raised its position in Hinge Health by 225.0% in the 4th quarter. Millennium Management LLC now owns 1,479,642 shares of the company's stock worth $68,729,000 after purchasing an additional 1,024,317 shares during the period. Finally, Braidwell LP raised 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 worth $60,600,000 after purchasing an additional 394,147 shares during the period.

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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