Hinge Health (NYSE:HNGE) Shares Up 7.3% – Here’s What Happened

Hinge Health Inc. (NYSE:HNGE)’s stock price shot up 7.3% during trading on Wednesday . The company traded as high as $43.69 and last traded at $43.5910. 909,108 shares were traded during mid-day trading, a decline of 19% from the average session volume of 1,120,616 shares. The stock had previously closed at $40.62.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Piper Sandler reaffirmed an “overweight” rating and set a $71.00 target price (up previously from $70.00) on shares of Hinge Health in a research report on Wednesday, November 5th. Needham & Company LLC upped their price objective on Hinge Health from $47.00 to $59.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hinge Health in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Hinge Health from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Morgan Stanley raised their price target on shares of Hinge Health from $57.00 to $67.00 and gave the company an “overweight” rating in a report on Tuesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $59.93.

Hinge Health Stock Up 1.5%

The business has a 50 day simple moving average of $49.92.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.18. The business had revenue of $154.21 million during the quarter, compared to analyst estimates of $142.44 million. Hinge Health’s 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 has approved a share repurchase program on Wednesday, November 12th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 7.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Hinge Health

In other news, major shareholder Bessemer Venture Partners X. L. sold 725,000 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $40.05, for a total transaction of $29,036,250.00. Following the sale, the insider directly owned 3,383,707 shares of the company’s stock, valued at $135,517,465.35. The trade was a 17.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kristina M. Leslie sold 3,813 shares of the company’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $43.60, for a total value of $166,246.80. Following the completion of the transaction, the director directly owned 29,000 shares in the company, valued at approximately $1,264,400. The trade was a 11.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 731,000 shares of company stock worth $29,290,983.

Institutional Trading of Hinge Health

Large investors have recently added to or reduced their stakes in the company. BIT Capital GmbH increased its holdings in shares of Hinge Health by 144.6% in the third quarter. BIT Capital GmbH now owns 1,849,524 shares of the company’s stock valued at $90,775,000 after purchasing an additional 1,093,320 shares during the period. Bamco Inc. NY acquired a new position in Hinge Health in the 2nd quarter worth approximately $48,943,000. Braidwell LP purchased a new position in Hinge Health during the 3rd quarter worth approximately $44,686,000. JPMorgan Chase & Co. acquired a new stake in Hinge Health during the 2nd quarter valued at approximately $43,840,000. Finally, Franklin Resources Inc. purchased a new stake in shares of Hinge Health in the 2nd quarter valued at $28,462,000.

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.