Hinge Health (NYSE:HNGE) Hits New 52-Week High Following Analyst Upgrade

Key Points

• Hinge Health shares hit a new 52-week high after Barclays raised its price target from $70 to $97 and reiterated an overweight rating. The stock traded as high as $91.50 in Monday’s session.
• Several other analysts have also turned more constructive on the stock recently, including KeyCorp lifting its target to $125 and Needham, Truist, and Stifel also issuing higher targets. Overall, HNGE now carries a Moderate Buy consensus rating.
• Insiders have been selling shares in recent months, including chairman Gabriel M.I. Mecklenburg and president James Pursley, while institutions such as Squarepoint Ops and others have added new stakes. The company recently also posted strong revenue growth, with quarterly revenue up 47.2% year over year.

Hinge Health Inc. (NYSE:HNGE - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday after Barclays raised their price target on the stock from $70.00 to $97.00. Barclays currently has an overweight rating on the stock. Hinge Health traded as high as $91.50 and last traded at $90.3550, with a volume of 92416 shares changing hands. The stock had previously closed at $88.80.

A number of other research analysts also recently issued reports on HNGE. Weiss Ratings upgraded shares of Hinge Health from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, May 6th. Stifel Nicolaus set a $79.00 price target on shares of Hinge Health in a report on Wednesday, June 10th. Needham & Company LLC upped their price objective on shares of Hinge Health from $63.00 to $76.00 and gave the company a "buy" rating in a report on Thursday, June 11th. Truist Financial raised their target price on Hinge Health from $79.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, June 11th. Finally, KeyCorp boosted their target price on Hinge Health from $90.00 to $125.00 and gave the company an "overweight" rating in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Hinge Health currently has an average rating of "Moderate Buy" and an average price target of $82.67.

Insider Transactions at Hinge Health

In related news, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the company's 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 sale, the chairman owned 83,334 shares in the company, valued at $7,087,556.70. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President James Pursley sold 33,000 shares of the firm's stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $69.31, for a total transaction of $2,287,230.00. Following the completion of the transaction, the president directly owned 740,897 shares in the company, valued at approximately $51,351,571.07. The trade was a 4.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,954,433 shares of company stock valued at $300,724,532 over the last three months. Corporate insiders own 18.92% of the company's stock.

Institutional Investors Weigh In On Hinge Health

Institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP purchased a new stake in Hinge Health in the 2nd quarter valued at about $367,000. Sei Investments Co. bought a new stake in shares of Hinge Health in the second quarter valued at $869,000. Squarepoint Ops LLC purchased a new stake in Hinge Health during the second quarter valued at about $19,706,000. Raymond James Financial Inc. purchased a new stake in shares of Hinge Health during the 2nd quarter valued at approximately $3,258,000. Finally, Sandia Investment Management LP purchased a new stake in shares of Hinge Health during the second quarter worth $657,000.

Hinge Health Stock Performance

The firm has a 50 day simple moving average of $65.37 and a 200 day simple moving average of $50.19. The firm has a market cap of $6.93 billion, a P/E ratio of -7.30 and a beta of 1.13.

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

Hinge Health Company Profile

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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