Hinge Health (NYSE:HNGE) Sets New 52-Week High - Still a Buy?

Key Points

• Hinge Health shares reached a new 52-week high of $95.62, up 2.4%, giving the company a market capitalization of approximately $7.64 billion.
• Analysts remain broadly bullish, with a “Moderate Buy” consensus rating and an average price target of $101.93; several firms recently raised their targets to between $103 and $112.
• The company exceeded quarterly earnings expectations, reporting $0.59 in EPS versus a $0.28 consensus estimate and $212.82 million in revenue, up 53% year over year. However, insiders have sold roughly 4.15 million shares worth $335.8 million over the past three months.

Hinge Health Inc. (NYSE:HNGE - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $95.62 and last traded at $95.1060, with a volume of 201729 shares. The stock had previously closed at $92.39.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Piper Sandler reissued an "overweight" rating on shares of Hinge Health in a research note on Wednesday, June 10th. Truist Financial lifted their target price on Hinge Health from $85.00 to $112.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Morgan Stanley upped their price target on shares of Hinge Health from $72.00 to $108.00 and gave the company an "overweight" rating in a report on Monday, July 13th. Wells Fargo & Company raised their price objective on shares of Hinge Health from $90.00 to $103.00 and gave the company an "overweight" rating in a research report on Wednesday, August 5th. Finally, Royal Bank Of Canada lifted their price objective on shares of Hinge Health from $75.00 to $110.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Hinge Health has an average rating of "Moderate Buy" and an average price target of $101.93.

Hinge Health Trading Up 2.4%

The stock has a 50-day moving average of $86.33 and a two-hundred day moving average of $64.89. The firm has a market cap of $7.64 billion, a price-to-earnings ratio of 74.01 and a beta of 1.38.

Hinge Health (NYSE:HNGE - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.28 by $0.31. The company 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%. The business's quarterly revenue was up 53.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 earnings per share. Sell-side analysts expect that Hinge Health Inc. will post 1.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Gabriel Mecklenburg sold 250,000 shares of the firm's stock in a transaction on Friday, September 11th. The stock was sold at an average price of $88.97, for a total value of $22,242,500.00. Following the completion of the sale, the chairman owned 250,000 shares of the company's stock, valued at $22,242,500. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the company's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $82.83, for a total value of $121,484,027.61. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 4,150,019 shares of company stock worth $335,841,156. Corporate insiders own 18.92% of the company's stock.

Hedge Funds Weigh In On Hinge Health

Institutional investors and hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Hinge Health in the fourth quarter worth approximately $26,000. IFP Advisors Inc lifted its position in Hinge Health by 140.0% in the 2nd quarter. IFP Advisors Inc now owns 324 shares of the company's stock worth $27,000 after buying an additional 189 shares in the last quarter. Nykredit A S acquired a new stake in shares of Hinge Health during the 2nd quarter valued at $29,000. CENTRAL TRUST Co purchased a new position in shares of Hinge Health during the 1st quarter valued at $37,000. Finally, State of Wyoming purchased a new position in shares of Hinge Health during the 1st quarter valued at $110,000.

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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