Hsbc Holdings PLC Cuts Stock Position in Hinge Health Inc. $HNGE

Hsbc Holdings PLC trimmed its stake in shares of Hinge Health Inc. (NYSE:HNGE) by 31.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,022 shares of the company’s stock after selling 9,438 shares during the period. Hsbc Holdings PLC’s holdings in Hinge Health were worth $814,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Wells Fargo & Company MN raised its position in shares of Hinge Health by 160.0% during the 4th quarter. Wells Fargo & Company MN now owns 546 shares of the company’s stock worth $25,000 after purchasing an additional 336 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Hinge Health in the 4th quarter valued at about $26,000. First Horizon Corp boosted its holdings in Hinge Health by 163.9% in the 4th quarter. First Horizon Corp now owns 855 shares of the company’s stock worth $40,000 after buying an additional 531 shares during the last quarter. CENTRAL TRUST Co acquired a new stake in Hinge Health in the 1st quarter worth about $37,000. Finally, High Point Wealth Management LLC purchased a new stake in Hinge Health during the 4th quarter worth approximately $46,000.

Wall Street Analyst Weigh In

HNGE has been the topic of several research reports. Zacks Research upgraded Hinge Health from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Royal Bank Of Canada boosted their price target on Hinge Health from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, June 11th. KeyCorp increased their price objective on Hinge Health from $90.00 to $125.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Raymond James Financial raised their price objective on Hinge Health from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, June 15th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Hinge Health in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Hinge Health has a consensus rating of “Moderate Buy” and a consensus target price of $86.07.

Hinge Health Stock Down 1.3%

HNGE stock opened at $74.26 on Thursday. Hinge Health Inc. has a 52-week low of $30.08 and a 52-week high of $91.50. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of -6.02 and a beta of 1.13. The business has a fifty day moving average of $72.75 and a two-hundred day moving average of $53.33.

Hinge Health (NYSE:HNGE) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.12 by $0.33. The business 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%.The business’s revenue for the quarter was up 47.2% on a year-over-year basis. During the same period last year, the company earned $1.30 EPS. As a group, sell-side analysts anticipate that Hinge Health Inc. will post 1.37 EPS for the current year.

Insider Activity at Hinge Health

In other Hinge Health news, major shareholder Insight Holdings Group, Llc sold 181,499 shares of the company’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $90.20, for a total value of $16,371,209.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President James Pursley sold 33,000 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $69.31, for a total transaction of $2,287,230.00. Following the transaction, the president directly owned 740,897 shares of the company’s stock, valued at approximately $51,351,571.07. This trade represents a 4.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 3,921,100 shares of company stock worth $299,222,881. Company insiders own 18.92% of the company’s stock.

Hinge Health Company 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.