Hinge Health (NYSE:HNGE) Board Initiates Share Repurchase Plan

Hinge Health (NYSE:HNGE) declared that its board has authorized a stock buyback program on Wednesday, November 12th, RTT News reports. The company plans to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 7.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

HNGE has been the subject of several research reports. Bank of America upped their price objective on shares of Hinge Health from $42.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Baird R W upgraded Hinge Health to a “hold” rating in a report on Friday, September 5th. Evercore ISI upped their price target on Hinge Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 8th. Wall Street Zen upgraded Hinge Health from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Canaccord Genuity Group boosted their price objective on Hinge Health from $61.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $59.93.

Hinge Health Trading Down 1.9%

NYSE:HNGE opened at $40.95 on Friday. Hinge Health has a 52 week low of $33.42 and a 52 week high of $62.18. The company has a fifty day simple moving average of $51.10.

Hinge Health (NYSE:HNGE) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.18. The business had revenue of $154.21 million for the quarter, compared to analysts’ expectations of $142.44 million. The company’s revenue was up 53.3% on a year-over-year basis. Hinge Health has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS.

Hinge Health Company Profile

Our vision is to build a new health system that transforms outcomes, experience and costs by using technology to scale and automate the delivery of care. Hinge Health leverages software, including AI, to largely automate care for joint and muscle health, delivering an outstanding member experience, improved member outcomes, and cost reductions for our clients.