Key Points
- Bessemer Venture Partners sold 725,000 Hinge Health shares at an average price of $40.05 (≈$29.04M), cutting its stake by 17.65% to 3,383,707 shares, per an SEC filing.
- Hinge Health's board approved a $250 million share buyback program that could repurchase up to 7.2% of outstanding shares, a sign the company may view its stock as undervalued.
- The company recently beat expectations—reported EPS of $0.02 vs. a ($0.20) estimate and revenue of $154.21M (up 53.3% YoY)—and analysts hold a generally positive stance with an average price target around $59.93.
Hinge Health Inc. (NYSE:HNGE - Get Free Report) major shareholder Bessemer Venture Partners L. sold 725,000 shares of Hinge Health stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $40.05, for a total value of $29,036,250.00. Following the sale, the insider directly owned 3,383,707 shares of the company's stock, valued at approximately $135,517,465.35. The trade was a 17.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.
Hinge Health Price Performance
HNGE opened at $45.33 on Friday. The stock's fifty day moving average price is $49.92. Hinge Health Inc. has a fifty-two week low of $33.42 and a fifty-two week high of $62.18.
Hinge Health (NYSE:HNGE - Get Free Report) last announced its earnings results on Tuesday, November 4th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.18. The business had revenue of $154.21 million for the quarter, compared to the consensus estimate of $142.44 million. The firm'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 declared that its Board of Directors has approved a share buyback program on Wednesday, November 12th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 7.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its shares are undervalued.
Analyst Ratings Changes
HNGE has been the topic of a number of research analyst reports. JMP Securities raised their target price on Hinge Health from $58.00 to $65.00 and gave the company a "market outperform" rating in a report on Wednesday, August 6th. Wall Street Zen upgraded shares of Hinge Health from a "hold" rating to a "buy" rating in a research report on Saturday, November 8th. Morgan Stanley raised their target price on shares of Hinge Health from $57.00 to $67.00 and gave the company an "overweight" rating in a research report on Tuesday, September 23rd. Needham & Company LLC upped their price objective on Hinge Health from $47.00 to $59.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, Evercore ISI boosted their target price on shares of Hinge Health from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday, October 8th. 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 issued a Sell rating to the stock. According to data from MarketBeat.com, Hinge Health has an average rating of "Moderate Buy" and an average price target of $59.93.
Check Out Our Latest Stock Report on HNGE
Hedge Funds Weigh In On Hinge Health
Institutional investors and hedge funds have recently made changes to their positions in the stock. Lisanti Capital Growth LLC acquired a new stake in Hinge Health in the 2nd quarter valued at $3,089,000. Strategic Blueprint LLC acquired a new stake in shares of Hinge Health in the 2nd quarter worth about $346,000. FNY Investment Advisers LLC acquired a new position in Hinge Health during the 2nd quarter valued at about $310,000. CHURCHILL MANAGEMENT Corp bought a new position in shares of Hinge Health in the second quarter valued at approximately $828,000. Finally, Mark Sheptoff Financial Planning LLC purchased a new position in shares of Hinge Health during the second quarter valued at approximately $114,000.
Hinge Health Company Profile
(
Get Free Report)
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.
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