Hanger (HNGR) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Hanger (OTCMKTS:HNGR) from a hold rating to a buy rating in a research note released on Tuesday. Zacks Investment Research currently has $22.00 price objective on the healthcare company’s stock.

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. “

Other equities analysts have also recently issued research reports about the company. TheStreet cut Hanger from a c rating to a d rating in a report on Wednesday, October 31st. ValuEngine cut Hanger from a buy rating to a hold rating in a report on Monday, August 13th.

Hanger stock opened at $18.53 on Tuesday. Hanger has a 12-month low of $11.70 and a 12-month high of $24.50.

Hanger (OTCMKTS:HNGR) last posted its quarterly earnings results on Thursday, November 8th. The healthcare company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. The firm had revenue of $262.95 million during the quarter, compared to the consensus estimate of $260.07 million.

In related news, SVP Thomas E. Hartman sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, November 13th. The stock was sold at an average price of $19.89, for a total value of $119,340.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.36% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Thompson Investment Management Inc. bought a new position in Hanger during the third quarter worth about $13,469,000. First Manhattan Co. bought a new position in Hanger during the third quarter worth about $1,345,000. Deltec Asset Management LLC bought a new position in Hanger during the third quarter worth about $1,510,000. Victory Capital Management Inc. bought a new position in Hanger during the third quarter worth about $22,704,000. Finally, RBF Capital LLC bought a new position in shares of Hanger during the 3rd quarter valued at about $15,498,000. Hedge funds and other 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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