Key Points
- Hinge Health CEO Daniel Antonio Perez sold 166,670 shares on December 15 at an average price of $48.53, a transaction totaling $8,088,495.10, disclosed in an SEC Form 4 filing.
- On November 4 the company beat expectations with EPS of ($0.02) vs. ($0.20) estimated and revenue of $154.21M (up 53.3% YoY vs. $142.44M expected), and its board approved a $250 million stock buyback covering up to 7.2% of shares.
- Shares trade around $48 (50-day and 200-day MAs near $48) within a 52-week range of $33.42–$62.18, and analysts hold a consensus "Moderate Buy" with an average price target of $59.93.
Hinge Health Inc. (NYSE:HNGE - Get Free Report) CEO Daniel Antonio Perez sold 166,670 shares of the business's stock in a transaction on Monday, December 15th. The shares were sold at an average price of $48.53, for a total transaction of $8,088,495.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Hinge Health Trading Down 0.3%
Shares of HNGE stock opened at $48.34 on Wednesday. Hinge Health Inc. has a 52-week low of $33.42 and a 52-week high of $62.18. The business's fifty day moving average is $48.01 and its 200 day moving average is $48.99.
Hinge Health (NYSE:HNGE - Get Free Report) last posted 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 analysts' expectations of $142.44 million. The business's revenue for the quarter was up 53.3% compared to the same quarter last year.
Hinge Health declared that its Board of Directors has approved a stock buyback program on Wednesday, November 12th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to reacquire up to 7.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.
Analyst Ratings Changes
A number of brokerages recently weighed in on HNGE. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Hinge Health in a research note on Wednesday, October 8th. Baird R W raised shares of Hinge Health to a "hold" rating in a report on Friday, September 5th. Barclays upped their target price on shares of Hinge Health from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 5th. Stifel Nicolaus increased their target price on Hinge Health from $63.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, September 11th. Finally, Canaccord Genuity Group lifted their price target 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 assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $59.93.
View Our Latest Stock Report on HNGE
Hedge Funds Weigh In On Hinge Health
Several institutional investors and hedge funds have recently made changes to their positions in HNGE. Lisanti Capital Growth LLC purchased a new position in Hinge Health in the 2nd quarter worth $3,089,000. JPMorgan Chase & Co. purchased a new stake in Hinge Health during the second quarter valued at about $43,840,000. Seven Grand Managers LLC bought a new position in shares of Hinge Health during the second quarter valued at about $12,938,000. Strategic Blueprint LLC purchased a new position in shares of Hinge Health in the second quarter worth about $346,000. Finally, Foresite Capital Management VI LLC bought a new stake in shares of Hinge Health in the 2nd quarter valued at about $6,986,000.
About Hinge Health
(
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.
Further Reading
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