Hsbc Holdings PLC Trims Stock Holdings in Hinge Health Inc. $HNGE

Hsbc Holdings PLC lowered its position in shares of Hinge Health Inc. (NYSE:HNGE) by 31.0% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 21,022 shares of the company’s stock after selling 9,438 shares during the quarter. Hsbc Holdings PLC’s holdings in Hinge Health were worth $814,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in HNGE. Wells Fargo & Company MN raised its stake in shares of Hinge Health by 160.0% in the fourth 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 stake in Hinge Health in the fourth quarter valued at approximately $26,000. CENTRAL TRUST Co purchased a new stake in Hinge Health in the first quarter valued at approximately $37,000. First Horizon Corp increased 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 period. Finally, High Point Wealth Management LLC purchased a new position in Hinge Health during the 4th quarter worth approximately $46,000.

Hinge Health Price Performance

Shares of NYSE HNGE opened at $74.26 on Thursday. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of -6.02 and a beta of 1.13. The firm’s 50 day simple moving average is $72.75 and its 200-day simple moving average is $53.33. Hinge Health Inc. has a 12 month low of $30.08 and a 12 month high of $91.50.

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 the consensus estimate of $0.12 by $0.33. Hinge Health had a negative net margin of 78.95% and a negative return on equity of 310.62%. The firm had revenue of $182.31 million during the quarter. During the same quarter in the prior year, the firm earned $1.30 earnings per share. The business’s revenue for the quarter was up 47.2% on a year-over-year basis. Analysts anticipate that Hinge Health Inc. will post 1.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HNGE. Royal Bank Of Canada upped their price objective on shares of Hinge Health from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, June 11th. Wells Fargo & Company raised their target price on shares of Hinge Health from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, June 23rd. Citigroup restated an “outperform” rating on shares of Hinge Health in a research report on Monday. Raymond James Financial upped their price target on shares of Hinge Health from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, June 15th. Finally, Zacks Research upgraded Hinge Health from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Hinge Health presently has a consensus rating of “Moderate Buy” and an average price target of $86.07.

Insiders Place Their Bets

In related news, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of Hinge Health stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Gabriel M.I. Mecklenburg sold 83,334 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $60.22, for a total value of $5,018,373.48. Following the completion of the transaction, the chairman directly owned 83,334 shares of the company’s stock, valued at $5,018,373.48. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 3,921,100 shares of company stock worth $299,222,881. Company insiders own 18.92% of the company’s stock.

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.