Alkeon Capital Management LLC Takes $19.46 Million Position in Hinge Health Inc. $HNGE

Alkeon Capital Management LLC bought a new position in shares of Hinge Health Inc. (NYSE:HNGE) during the second quarter, according to its most recent filing with the SEC. The fund bought 376,011 shares of the company’s stock, valued at approximately $19,459,000.

Other institutional investors also recently added to or reduced their stakes in the company. Montag A & Associates Inc. purchased a new stake in Hinge Health during the second quarter worth about $41,000. SBI Securities Co. Ltd. purchased a new position in Hinge Health in the second quarter valued at about $48,000. PNC Financial Services Group Inc. bought a new position in shares of Hinge Health during the 2nd quarter valued at approximately $71,000. Emerald Advisers LLC purchased a new stake in shares of Hinge Health during the 2nd quarter worth approximately $108,000. Finally, Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Hinge Health during the 2nd quarter worth approximately $114,000.

Insider Transactions at Hinge Health

In other Hinge Health news, President James Pursley sold 15,000 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $45.57, for a total value of $683,550.00. Following the sale, the president directly owned 789,902 shares in the company, valued at $35,995,834.14. This represents a 1.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Insight Holdings Group, Llc sold 1,654,440 shares of the firm’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $47.76, for a total transaction of $79,016,054.40. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 2,446,279 shares of company stock valued at $111,164,327.

Hinge Health Trading Down 0.4%

NYSE:HNGE opened at $49.58 on Friday. Hinge Health Inc. has a 1 year low of $33.42 and a 1 year high of $62.18. The stock’s fifty day moving average is $48.13.

Hinge Health (NYSE:HNGE) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter was up 53.3% on a year-over-year basis.

Hinge Health announced that its board has initiated a stock buyback plan on Wednesday, November 12th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to buy up to 7.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on HNGE shares. Evercore ISI upped their price objective on Hinge Health from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Barclays boosted their target price on Hinge Health from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Piper Sandler reiterated an “overweight” rating and set a $71.00 price target (up previously from $70.00) on shares of Hinge Health in a research note on Wednesday, November 5th. Wall Street Zen lowered Hinge Health from a “buy” rating to a “hold” rating in a report on Saturday, December 6th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Hinge Health in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.93.

Hinge Health 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.