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

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Zacks Investment Research lowered shares of Hanger (OTCMKTS:HNGR) from a buy rating to a hold rating in a 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. “

OTCMKTS:HNGR opened at $19.87 on Wednesday. Hanger has a fifty-two week low of $15.50 and a fifty-two week high of $22.00. The firm’s fifty day simple moving average is $20.07 and its 200-day simple moving average is $19.08.

Hanger (OTCMKTS:HNGR) last issued its quarterly earnings data on Wednesday, August 7th. The healthcare company reported $0.35 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.05. The business had revenue of $281.10 million during the quarter, compared to analyst estimates of $276.31 million.

In other Hanger news, insider Jay C. Wendt sold 2,860 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were 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 SEC, which can be accessed through the SEC website. 2.36% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in HNGR. Panagora Asset Management Inc. purchased a new position in Hanger in the second quarter valued at approximately $1,535,000. Russell Investments Group Ltd. raised its holdings in Hanger by 176.8% in the second quarter. Russell Investments Group Ltd. now owns 469,302 shares of the healthcare company’s stock valued at $8,973,000 after buying an additional 299,753 shares during the period. Acadian Asset Management LLC raised its holdings in Hanger by 1.2% in the second quarter. Acadian Asset Management LLC now owns 152,768 shares of the healthcare company’s stock valued at $2,926,000 after buying an additional 1,773 shares during the period. BNP Paribas Arbitrage SA raised its holdings in Hanger by 203.8% in the second quarter. BNP Paribas Arbitrage SA now owns 3,147 shares of the healthcare company’s stock valued at $60,000 after buying an additional 2,111 shares during the period. Finally, Dalton Greiner Hartman Maher & Co. purchased a new position in Hanger in the second quarter valued at approximately $3,013,000. Institutional investors own 3.61% of the company’s stock.

About Hanger

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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