Alkeon Capital Management LLC Makes New $19.46 Million Investment in Hinge Health Inc. $HNGE

Alkeon Capital Management LLC acquired a new position in shares of Hinge Health Inc. (NYSE:HNGE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 376,011 shares of the company’s stock, valued at approximately $19,459,000. Alkeon Capital Management LLC owned 0.48% of Hinge Health as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Lisanti Capital Growth LLC acquired a new stake in Hinge Health in the second quarter worth $3,089,000. JPMorgan Chase & Co. bought a new position in shares of Hinge Health during the 2nd quarter worth about $43,840,000. Seven Grand Managers LLC acquired a new stake in shares of Hinge Health in the 2nd quarter valued at about $12,938,000. Strategic Blueprint LLC bought a new stake in Hinge Health in the 2nd quarter valued at about $346,000. Finally, Foresite Capital Management VI LLC acquired a new position in Hinge Health during the 2nd quarter worth approximately $6,986,000.

Hinge Health Stock Down 0.4%

Shares of Hinge Health stock opened at $49.58 on Friday. The stock’s fifty day moving average is $48.13. Hinge Health Inc. has a 12-month low of $33.42 and a 12-month high of $62.18.

Hinge Health (NYSE:HNGE) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.18. The company had revenue of $154.21 million for the quarter, compared to the consensus estimate of $142.44 million. The business’s revenue was up 53.3% on a year-over-year basis.

Hinge Health declared that its board has initiated a stock repurchase plan 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Stifel Nicolaus raised their price objective on Hinge Health from $63.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, September 11th. Piper Sandler reissued an “overweight” rating and issued a $71.00 price target (up previously from $70.00) on shares of Hinge Health in a research report on Wednesday, November 5th. Baird R W upgraded shares of Hinge Health to a “hold” rating in a report on Friday, September 5th. Wall Street Zen lowered shares of Hinge Health from a “buy” rating to a “hold” rating in a research note on Saturday, December 6th. Finally, Evercore ISI lifted their price objective on shares of Hinge Health from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 8th. 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’s stock. Based on data from MarketBeat.com, Hinge Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.93.

Insider Activity at Hinge Health

In other Hinge Health news, President James Pursley sold 15,000 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $45.57, for a total value of $683,550.00. Following the completion of the sale, the president owned 789,902 shares in the company, valued at approximately $35,995,834.14. This trade represents a 1.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Bessemer Venture Partners X. 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 transaction of $29,036,250.00. Following the transaction, the insider directly owned 3,383,707 shares in the company, valued at approximately $135,517,465.35. This represents a 17.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 2,446,279 shares of company stock valued at $111,164,327 over the last three months.

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.