Hsbc Holdings PLC Grows Position in Hinge Health Inc. $HNGE

Hsbc Holdings PLC raised its holdings in Hinge Health Inc. (NYSE:HNGE) by 204.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 30,460 shares of the company’s stock after buying an additional 20,469 shares during the quarter. Hsbc Holdings PLC’s holdings in Hinge Health were worth $1,411,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wells Fargo & Company MN increased its holdings in shares of Hinge Health by 160.0% in the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock valued at $25,000 after purchasing an additional 336 shares in the last quarter. First Horizon Corp grew its position in Hinge Health by 163.9% during the fourth quarter. First Horizon Corp now owns 855 shares of the company’s stock worth $40,000 after buying an additional 531 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Hinge Health during the fourth quarter worth about $26,000. Sandler Capital Management increased its holdings in Hinge Health by 1.4% in the third quarter. Sandler Capital Management now owns 52,728 shares of the company’s stock valued at $2,588,000 after buying an additional 728 shares in the last quarter. Finally, Strategic Blueprint LLC lifted its position in shares of Hinge Health by 8.0% during the 4th quarter. Strategic Blueprint LLC now owns 12,319 shares of the company’s stock valued at $572,000 after acquiring an additional 915 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HNGE. Canaccord Genuity Group boosted their price target on Hinge Health from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Needham & Company LLC raised their price objective on Hinge Health from $63.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Wells Fargo & Company lifted their price objective on Hinge Health from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, June 23rd. KeyCorp boosted their target price on Hinge Health from $75.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, June 12th. Finally, Raymond James Financial upped their target price on Hinge Health from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, June 15th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Hinge Health currently has an average rating of “Moderate Buy” and an average price target of $75.80.

Insider Transactions at Hinge Health

In other news, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $82.83, for a total value of $121,484,027.61. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $60.22, for a total value of $5,018,373.48. Following the sale, the chairman directly owned 83,334 shares in the company, valued at approximately $5,018,373.48. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,444,928 shares of company stock valued at $255,189,011 over the last three months. 18.92% of the stock is currently owned by insiders.

Hinge Health Price Performance

Shares of HNGE opened at $83.37 on Wednesday. Hinge Health Inc. has a 1-year low of $30.08 and a 1-year high of $84.62. The stock has a market cap of $6.45 billion and a price-to-earnings ratio of -6.76. The firm has a 50 day simple moving average of $58.49 and a 200-day simple moving average of $48.00.

Hinge Health (NYSE:HNGE) last posted its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.33. The firm had revenue of $182.31 million for the quarter. Hinge Health had a negative return on equity of 310.62% and a negative net margin of 78.95%.Hinge Health’s quarterly revenue was up 47.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.30 EPS. On average, equities analysts expect that Hinge Health Inc. will post 1.33 earnings per share for the current fiscal year.

Hinge Health Profile

Hinge Health (NYSE: HNGE) is a digital musculoskeletal (MSK) clinic that provides end-to-end solutions for the prevention and management of musculoskeletal conditions. The company’s platform combines wearable motion sensors, personalized exercise therapy guided by licensed physical therapists, and behavioral health coaching to deliver tailored treatment plans. By integrating technology with evidence-based clinical protocols, Hinge Health aims to reduce pain, improve mobility and decrease reliance on more invasive interventions such as surgery or opioid prescriptions.

Founded in 2015 and headquartered in San Francisco, Hinge Health partners with employers, health plans and other payers to offer its self-directed, app-based programs.