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

Shares of Hinge Health Inc. (NYSE:HNGE) shot up 7.3% during mid-day trading on Wednesday . The stock traded as high as $43.69 and last traded at $43.5910. 909,108 shares traded hands 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

A number of equities research analysts have commented on the stock. Canaccord Genuity Group lifted their target price on shares of Hinge Health from $61.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Barclays upped their price objective on Hinge Health from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Stifel Nicolaus raised their target price on Hinge Health from $63.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, September 11th. JMP Securities boosted their price target on Hinge Health from $58.00 to $65.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 6th. Finally, Morgan Stanley raised their price objective 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. One equities 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 stock. Based on data from MarketBeat.com, Hinge Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.93.

Hinge Health Stock Performance

The firm’s 50 day simple moving average is $50.45.

Hinge Health (NYSE:HNGE) last announced 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 business had revenue of $154.21 million during 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 has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS.

Hinge Health declared that its board has authorized a stock buyback program on Wednesday, November 12th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to repurchase up to 7.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Hinge Health

Several hedge funds have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. bought a new position in shares of Hinge Health during the third quarter worth $743,000. Dark Forest Capital Management LP bought a new position in shares of Hinge Health during the 3rd quarter valued at about $290,000. Voleon Capital Management LP purchased a new position in shares of Hinge Health during the third quarter valued at about $5,991,000. Verition Fund Management LLC bought a new stake in shares of Hinge Health in the third quarter worth about $238,000. Finally, Scientech Research LLC purchased a new stake in shares of Hinge Health in the third quarter worth about $328,000.

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.