Hinge Health (NYSE:HNGE) Hits New 12-Month High - Still a Buy?

Key Points

• Hinge Health reached a new 52-week high, trading as high as $99.73 and giving the company an $8.02 billion market capitalization. Its shares remain above both the 50-day and 200-day moving averages.
• Analysts maintain a generally positive outlook, with the stock holding a “Moderate Buy” consensus rating and an average price target of $105.33; individual targets range from $90 to $115.
• The company reported strong operating momentum, including quarterly revenue growth of 53% to $212.82 million and earnings of $0.59 per share versus a $0.28 consensus estimate. However, insiders sold about $108.1 million of stock over the past 90 days under pre-arranged trading plans.

Hinge Health Inc. (NYSE:HNGE - Get Free Report) reached a new 52-week high during trading on Monday. The stock traded as high as $99.73 and last traded at $98.6050, with a volume of 973880 shares traded. The stock had previously closed at $97.67.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Weiss Ratings upgraded shares of Hinge Health from a "sell (d-)" rating to a "hold (c)" rating in a research note on Tuesday, September 22nd. Zacks Research lowered shares of Hinge Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 11th. Robert W. Baird increased their price objective on shares of Hinge Health from $85.00 to $90.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 22nd. Barclays lifted their target price on shares of Hinge Health from $97.00 to $100.00 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Finally, Stifel Nicolaus upped their target price on shares of Hinge Health from $96.00 to $115.00 and gave the stock a "buy" rating in a report on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $105.33.

Hinge Health Trading Up 1.7%

The firm has a market cap of $8.02 billion, a PE ratio of 77.58 and a beta of 1.37. The firm's 50 day simple moving average is $88.84 and its 200 day simple moving average is $69.46.

Hinge Health (NYSE:HNGE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 earnings per share 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 company had revenue of $212.82 million for the quarter. During the same period in the previous year, the firm earned $0.59 earnings per share. The company's revenue was up 53.0% compared to the same quarter last year. As a group, equities research analysts predict that Hinge Health Inc. will post 1.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Gabriel Mecklenburg sold 150,000 shares of the business'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 completion of the sale, the chairman owned 150,000 shares in the company, valued at approximately $13,983,000. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO James Budge sold 55,561 shares of the business's stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $89.45, for a total transaction of $4,969,931.45. Following the completion of the transaction, the chief financial officer directly owned 349,062 shares of the company's stock, valued at $31,223,595.90. This trade represents a 13.73% 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 1,198,932 shares of company stock worth $108,122,542 over the last 90 days. Corporate insiders own 18.92% of the company's stock.

Hedge Funds Weigh In On Hinge Health

Large investors have recently added to or reduced their stakes in the company. Vista Investment Partners LLC acquired a new position in shares of Hinge Health in the 2nd quarter valued at $3,468,000. 11.2 Capital Management LLC purchased a new stake in Hinge Health during the 2nd quarter valued at about $204,566,531. Alkeon Capital Management LLC increased its holdings in shares of Hinge Health by 110.4% in the fourth quarter. Alkeon Capital Management LLC now owns 791,104 shares of the company's stock valued at $36,747,000 after purchasing an additional 415,093 shares during the period. Schwartz Investment Counsel Inc. increased its holdings in shares of Hinge Health by 28.3% in the first quarter. Schwartz Investment Counsel Inc. now owns 59,000 shares of the company's stock valued at $2,275,000 after purchasing an additional 13,000 shares during the period. Finally, Estuary Capital Management LP purchased a new position in shares of Hinge Health in the first quarter worth about $15,201,000.

About Hinge Health

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.

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