Hinge Health (NYSE:HNGE) Shares Gap Up – Still a Buy?

Hinge Health Inc. (NYSE:HNGE)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $44.31, but opened at $46.60. Hinge Health shares last traded at $44.3870, with a volume of 406,552 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on HNGE shares. Morgan Stanley raised their price target on shares of Hinge Health from $57.00 to $67.00 and gave the stock an “overweight” rating in a report on Tuesday, September 23rd. Needham & Company LLC lifted their price objective on shares of Hinge Health from $47.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Canaccord Genuity Group upped their target price on shares of Hinge Health from $61.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Wall Street Zen raised shares of Hinge Health from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Barclays boosted their price objective on Hinge Health from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $59.93.

Hinge Health Stock Performance

The firm has a 50 day moving average price of $51.10.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.18. The firm had revenue of $154.21 million for the quarter, compared to analysts’ expectations of $142.44 million. The firm’s quarterly revenue was up 53.3% compared to the same quarter last year. Hinge Health has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS.

Hinge Health announced that its Board of Directors has initiated a stock buyback program on Wednesday, November 12th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to buy up to 7.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Hinge Health

Several institutional investors and hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in Hinge Health in the third quarter worth $37,000. Montag A & Associates Inc. purchased a new position in shares of Hinge Health in the second quarter worth about $41,000. SBI Securities Co. Ltd. purchased a new stake in Hinge Health during the 2nd quarter valued at about $48,000. Aster Capital Management DIFC Ltd bought a new position in Hinge Health during the 3rd quarter worth approximately $49,000. Finally, Jones Financial Companies Lllp increased its stake in Hinge Health by 348.0% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,120 shares of the company’s stock worth $54,000 after purchasing an additional 870 shares during the period.

About Hinge Health

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.