Hinge Health Inc. $HNGE Shares Purchased by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC boosted its stake in Hinge Health by 204.9% in the fourth quarter, ending with 30,460 shares valued at about $1.41 million.
• Several analysts remain constructive on the stock, with a Moderate Buy consensus and an average price target of $75.80; Wells Fargo recently lifted its target to $90.
• Insider selling has been notable, including a 33,000-share sale by President James Pursley and a 1.47 million-share sale by Insight Holdings Group, while the stock recently traded near its 52-week high.

Hsbc Holdings PLC raised its stake in Hinge Health Inc. (NYSE:HNGE - Free Report) by 204.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,460 shares of the company's stock after purchasing an additional 20,469 shares during the period. Hsbc Holdings PLC's holdings in Hinge Health were worth $1,411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wells Fargo & Company MN increased its stake in shares of Hinge Health by 160.0% during the fourth quarter. Wells Fargo & Company MN now owns 546 shares of the company's stock worth $25,000 after buying an additional 336 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Hinge Health in the fourth quarter valued at $26,000. First Horizon Corp raised its stake in Hinge Health by 163.9% in the fourth quarter. First Horizon Corp now owns 855 shares of the company's stock valued at $40,000 after buying an additional 531 shares in the last quarter. High Point Wealth Management LLC purchased a new stake in Hinge Health during the 4th quarter worth about $46,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Hinge Health during the 3rd quarter worth about $49,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Citigroup restated an "outperform" rating on shares of Hinge Health in a research note on Wednesday, May 6th. Robert W. Baird raised their price objective on shares of Hinge Health from $55.00 to $65.00 and gave the stock a "neutral" rating in a report on Wednesday, June 17th. Truist Financial boosted their price objective on shares of Hinge Health from $79.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday, June 11th. Wells Fargo & Company upped their target price on shares of Hinge Health from $80.00 to $90.00 and gave the company an "overweight" rating in a report on Tuesday, June 23rd. Finally, Canaccord Genuity Group increased their target price on shares of Hinge Health from $65.00 to $76.00 and gave the company a "buy" rating in a research report on Monday, June 15th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $75.80.

Insider Transactions at Hinge Health

In other news, President James Pursley sold 33,000 shares of the firm's stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $69.31, for a total value of $2,287,230.00. Following the completion of the sale, the president owned 740,897 shares in the company, valued at approximately $51,351,571.07. This trade represents a 4.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of Hinge Health stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $82.83, for a total transaction of $121,484,027.61. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,444,928 shares of company stock worth $255,189,011 over the last 90 days. 18.92% of the stock is currently owned by insiders.

Hinge Health Stock Performance

Shares of Hinge Health stock opened at $83.37 on Wednesday. The company has a market capitalization of $6.45 billion and a P/E ratio of -6.76. Hinge Health Inc. has a 1 year low of $30.08 and a 1 year high of $84.62. The company's fifty day moving average is $58.49 and its two-hundred day moving average is $48.00.

Hinge Health (NYSE:HNGE - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $182.31 million during the quarter. During the same period in the previous year, the company posted $1.30 earnings per share. Hinge Health's quarterly revenue was up 47.2% on a year-over-year basis. As a group, equities analysts expect that Hinge Health Inc. will post 1.33 earnings per share for the current year.

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.

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