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

Shares of Hinge Health Inc. (NYSE:HNGE) hit a new 52-week high 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.

HNGE has been the topic of several other reports. Needham & Company LLC lifted their target price on shares of Hinge Health from $63.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Royal Bank Of Canada raised their price target on shares of Hinge Health from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Thursday, June 11th. Piper Sandler restated an “overweight” rating on shares of Hinge Health in a research report on Wednesday, June 10th. Wells Fargo & Company upped their price objective on shares of Hinge Health from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, June 23rd. Finally, Robert W. Baird increased their target price on shares of Hinge Health from $55.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, June 17th. Two investment 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $82.67.

Insider Activity at Hinge Health

In other Hinge Health news, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $60.22, for a total transaction of $5,018,373.48. Following the transaction, the chairman directly owned 83,334 shares of the company’s stock, valued at approximately $5,018,373.48. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $55.09, for a total transaction of $5,759,328.96. Following the completion of the transaction, the chief executive officer owned 35,470 shares of the company’s stock, valued at $1,954,042.30. This trade represents a 74.67% decrease in their ownership of the stock. 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 worth $300,724,532 over the last quarter. 18.92% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hinge Health

Institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN boosted its position in Hinge Health by 160.0% during the 4th 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. Caitong International Asset Management Co. Ltd bought a new position in shares of Hinge Health in the 4th quarter worth approximately $26,000. CENTRAL TRUST Co purchased a new position in shares of Hinge Health in the 1st quarter valued at approximately $37,000. First Horizon Corp lifted its stake in shares of Hinge Health by 163.9% in the 4th quarter. First Horizon Corp now owns 855 shares of the company’s stock valued at $40,000 after purchasing an additional 531 shares during the period. Finally, High Point Wealth Management LLC bought a new stake in shares of Hinge Health during the fourth quarter valued at approximately $46,000.

Hinge Health Price Performance

The company has a 50 day moving average of $65.37 and a two-hundred day moving average of $50.19. The company has a market capitalization of $6.93 billion, a PE ratio of -7.30 and a beta of 1.13.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 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 business had revenue of $182.31 million during the quarter. During the same period in the prior year, the business posted $1.30 EPS. The business’s quarterly revenue was up 47.2% compared to the same quarter last year. On average, equities analysts anticipate that Hinge Health Inc. will post 1.33 EPS for the current year.

About Hinge Health

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.