Hanger (OTCMKTS:HNGR) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded 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. “

Shares of OTCMKTS:HNGR traded up $0.24 during trading on Wednesday, reaching $19.68. 5,627 shares of the company traded hands, compared to its average volume of 259,867. The company’s 50 day moving average is $20.06 and its two-hundred day moving average is $19.07. Hanger has a 52 week low of $15.50 and a 52 week high of $22.00.

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

In other news, insider Jay C. Wendt sold 2,860 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $19.43, for a total transaction of $55,569.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.36% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Keybank National Association OH lifted its position in shares of Hanger by 1.7% during the 2nd quarter. Keybank National Association OH now owns 44,925 shares of the healthcare company’s stock worth $860,000 after buying an additional 750 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Hanger by 10.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 10,839 shares of the healthcare company’s stock worth $208,000 after buying an additional 990 shares during the last quarter. Quantamental Technologies LLC lifted its position in shares of Hanger by 300.0% during the 2nd quarter. Quantamental Technologies LLC now owns 1,600 shares of the healthcare company’s stock worth $31,000 after buying an additional 1,200 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Hanger by 1.2% during the 2nd quarter. Acadian Asset Management LLC now owns 152,768 shares of the healthcare company’s stock worth $2,926,000 after buying an additional 1,773 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Hanger by 203.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,147 shares of the healthcare company’s stock worth $60,000 after buying an additional 2,111 shares during the last quarter. Hedge funds and other 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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