Hinge Health (NYSE:HNGE) Reaches New 12-Month High - Time to Buy?

Key Points

• Hinge Health shares reached a new 52-week high of $97.95, giving the company a market capitalization of approximately $7.43 billion. The stock is trading above its 50-day and 200-day moving averages.
• Analysts remain broadly bullish, with a consensus rating of “Moderate Buy” and an average price target of $104.13; recent targets range from $105 to $112.
• The company reported strong quarterly performance, including 53% year-over-year revenue growth and EPS of $0.59, which exceeded estimates by $0.31. However, insiders sold about 1.28 million shares worth $115.2 million over the past 90 days.

Hinge Health Inc. (NYSE:HNGE - Get Free Report) shares reached a new 52-week high during mid-day 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 analysts have commented on HNGE shares. Truist Financial upped their price objective on shares of Hinge Health from $85.00 to $112.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Bank of America started coverage on shares of Hinge Health in a research note on Tuesday. They issued a "buy" rating and a $110.00 price target for the company. Weiss Ratings raised Hinge Health from a "sell (d-)" rating to a "hold (c)" rating in a research report on Tuesday, September 22nd. Evercore reiterated an "outperform" rating and set a $105.00 target price on shares of Hinge Health in a report on Wednesday, August 5th. Finally, Morgan Stanley increased their target price on Hinge Health from $72.00 to $108.00 and gave the stock an "overweight" rating in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Hinge Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $104.13.

Hinge Health Stock Down 0.4%

The stock's fifty day simple moving average is $87.36 and its two-hundred day simple moving average is $67.98. The firm has a market cap of $7.43 billion, a PE ratio of 72.25 and a beta of 1.38.

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

Insider Buying and Selling at Hinge Health

In other Hinge Health news, CFO James Budge sold 55,561 shares of the business's stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $89.45, for a total value of $4,969,931.45. Following the sale, the chief financial officer directly owned 349,062 shares of the company's stock, valued at approximately $31,223,595.90. The trade was a 13.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Daniel Perez sold 150,000 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $89.44, for a total value of $13,416,000.00. Following the completion of the sale, the chief executive officer directly owned 35,470 shares in the company, valued at approximately $3,172,436.80. This represents a 80.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,282,266 shares of company stock valued at $115,210,099 in the last ninety days. Corporate insiders own 18.92% of the company's stock.

Institutional Trading of Hinge Health

Several institutional investors have recently bought and sold shares of HNGE. BIT Capital GmbH raised its holdings in Hinge Health by 79.3% in the fourth quarter. BIT Capital GmbH now owns 3,316,101 shares of the company's stock worth $154,033,000 after buying an additional 1,466,577 shares during the last quarter. 11.2 Capital Management LLC purchased a new stake in shares of Hinge Health during the second quarter valued at approximately $204,566,531. Wellington Management Group LLP increased its position in shares of Hinge Health by 169.7% during the second quarter. Wellington Management Group LLP now owns 1,205,584 shares of the company's stock valued at $100,063,000 after acquiring an additional 758,594 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Hinge Health by 225.7% during the first 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 in the last quarter. Finally, Alkeon Capital Management LLC raised 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 during the last quarter.

Hinge Health Company Profile

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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