Hanger (OTCMKTS:HNGR) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Hanger (OTCMKTS:HNGR) from a buy rating to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Hanger, Inc. delivers orthotic and prosthetic patient care, and distributes O&P products and rehabilitative solutions. The company’s products & services segment provides Hanger distributes branded and private label O&P devices, products and components and provides rehabilitative solutions. Hanger Inc., formerly known as Hanger Orthoped, is based in AUSTIN, Texas. “

HNGR opened at $19.87 on Wednesday. The business has a 50 day moving average price of $20.07 and a 200 day moving average price of $19.08. Hanger has a twelve month low of $15.50 and a twelve month high of $22.00.

Hanger (OTCMKTS:HNGR) last posted its earnings results on Wednesday, August 7th. The healthcare company reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The company had revenue of $281.10 million during the quarter, compared to analyst estimates of $276.31 million.

In related news, insider Jay C. Wendt sold 2,860 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $19.43, for a total value of $55,569.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.36% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of HNGR. Marshall Wace LLP lifted its holdings in shares of Hanger by 189.2% during the first quarter. Marshall Wace LLP now owns 209,243 shares of the healthcare company’s stock worth $3,986,000 after buying an additional 136,903 shares during the last quarter. Dalton Greiner Hartman Maher & Co. acquired a new position in shares of Hanger during the second quarter worth approximately $2,936,000. Foundry Partners LLC lifted its holdings in shares of Hanger by 27.1% during the second quarter. Foundry Partners LLC now owns 251,500 shares of the healthcare company’s stock worth $4,816,000 after buying an additional 53,700 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Hanger during the second quarter worth approximately $1,400,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Hanger during the second quarter worth approximately $64,000. Institutional investors own 3.61% of the company’s stock.

Hanger Company Profile

Hanger, Inc provides orthotic and prosthetic (O&P) services; and distributes O&P devices and components, manages O&P networks, and provides therapeutic solutions to patients and businesses in acute, post-acute, and clinic settings in the United States. It operates through two segments, Patient Care and Products & Services.

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