Hinge Health (NYSE:HNGE) Reaches New 52-Week High After Analyst Upgrade

Hinge Health Inc. (NYSE:HNGE)’s share price reached a new 52-week high on Friday after Truist Financial raised their price target on the stock from $79.00 to $85.00. Truist Financial currently has a buy rating on the stock. Hinge Health traded as high as $66.74 and last traded at $64.6030, with a volume of 2447945 shares. The stock had previously closed at $62.06.

A number of other analysts have also weighed in on the stock. Zacks Research upgraded shares of Hinge Health from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Needham & Company LLC raised their price objective on shares of Hinge Health from $63.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday. KeyCorp set a $55.00 price objective on shares of Hinge Health in a report on Wednesday, February 11th. Raymond James Financial restated an “outperform” rating and issued a $70.00 price objective on shares of Hinge Health in a report on Wednesday, May 6th. Finally, Barclays raised their price objective on shares of Hinge Health from $62.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Hinge Health has an average rating of “Moderate Buy” and an average price target of $70.80.

Insider Buying and Selling at Hinge Health

In related news, President James Pursley sold 16,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $53.79, for a total transaction of $860,640.00. Following the completion of the sale, the president owned 780,223 shares of the company’s stock, valued at $41,968,195.17. This trade represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 firm’s stock in a transaction that occurred on 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 directly owned 35,470 shares of the company’s stock, valued at $1,954,042.30. This trade represents a 74.67% 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. Over the last quarter, insiders sold 554,600 shares of company stock valued at $29,859,068. Corporate insiders own 18.92% of the company’s stock.

Institutional Investors Weigh In On Hinge Health

Several institutional investors and hedge funds have recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its position in shares of Hinge Health by 3.3% during the first quarter. Janney Montgomery Scott LLC now owns 9,400 shares of the company’s stock valued at $362,000 after acquiring an additional 300 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Hinge Health by 160.0% during the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock valued at $25,000 after acquiring an additional 336 shares in the last quarter. Lazard Asset Management LLC grew its position in Hinge Health by 0.6% in the 1st quarter. Lazard Asset Management LLC now owns 63,705 shares of the company’s stock worth $2,456,000 after purchasing an additional 386 shares during the period. First Horizon Corp grew its position in Hinge Health by 163.9% in the 4th quarter. First Horizon Corp now owns 855 shares of the company’s stock worth $40,000 after purchasing an additional 531 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Hinge Health in the 4th quarter worth approximately $26,000.

Hinge Health Stock Performance

The firm has a market cap of $5.00 billion and a P/E ratio of -5.24. The business’s 50-day simple moving average is $49.94 and its 200 day simple moving average is $45.88.

Hinge Health (NYSE:HNGE) last posted its earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates 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 firm posted $1.30 EPS. The company’s revenue for the quarter was up 47.2% on a year-over-year basis. As a group, equities research analysts expect that Hinge Health Inc. will post 1.21 EPS for the current 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.