Hsbc Holdings PLC Boosts Stake in Hinge Health Inc. $HNGE

Key Points

• Hsbc Holdings PLC increased its stake in Hinge Health by 204.9% in the fourth quarter, ending with 30,460 shares valued at about $1.41 million.
• Several institutional investors and hedge funds also raised or initiated positions in Hinge Health, signaling continued buying interest from large holders.
• Analysts remain broadly positive: Hinge Health has a Moderate Buy consensus rating, with a $75.80 average target price, while the stock recently traded near $88.63 after reporting revenue growth and earnings that beat estimates.

Hsbc Holdings PLC grew its position in shares of Hinge Health Inc. (NYSE:HNGE - Free Report) by 204.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,460 shares of the company's stock after acquiring 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 quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wells Fargo & Company MN increased its position in 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 in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Hinge Health during the fourth quarter valued at approximately $26,000. First Horizon Corp grew its stake 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. High Point Wealth Management LLC purchased a new stake in Hinge Health during the fourth quarter worth approximately $46,000. Finally, US Bancorp DE increased its position in shares of Hinge Health by 96.1% in the third quarter. US Bancorp DE now owns 3,110 shares of the company's stock worth $153,000 after acquiring an additional 1,524 shares in the last quarter.

Insiders Place Their Bets

In other news, major shareholder Insight Holdings Group, Llc sold 1,466,667 shares of the business's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $82.83, for a total transaction of $121,484,027.61. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Daniel Antonio Perez sold 104,544 shares of the company's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $55.09, for a total value of $5,759,328.96. Following the sale, the chief executive officer directly owned 35,470 shares of the company's stock, valued at approximately $1,954,042.30. This represents a 74.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 3,954,433 shares of company stock worth $300,724,532. 18.92% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on HNGE shares. Robert W. Baird lifted their target price on shares of Hinge Health from $55.00 to $65.00 and gave the company a "neutral" rating in a report on Wednesday, June 17th. Needham & Company LLC increased their price target on Hinge Health from $63.00 to $76.00 and gave the company a "buy" rating in a report on Thursday, June 11th. 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 research report on Monday, June 15th. Weiss Ratings upgraded Hinge Health from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, May 6th. Finally, Royal Bank Of Canada upped their target price on Hinge Health from $65.00 to $75.00 and gave the stock an "outperform" rating in a research report on Thursday, June 11th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $75.80.

Hinge Health Trading Down 0.2%

Shares of NYSE HNGE opened at $88.63 on Monday. Hinge Health Inc. has a twelve month low of $30.08 and a twelve month high of $91.07. The firm has a 50-day moving average of $65.37 and a two-hundred day moving average of $50.19. The company has a market capitalization of $6.86 billion, a price-to-earnings ratio of -7.18 and a beta of 1.13.

Hinge Health (NYSE:HNGE - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $0.45 EPS for the quarter, topping 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 for the quarter. During the same quarter in the previous year, the firm earned $1.30 earnings per share. The firm's revenue for the quarter was up 47.2% compared to the same quarter last year. As a group, research analysts predict that Hinge Health Inc. will post 1.33 earnings per share for the current year.

About Hinge Health

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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