Hanger (OTCMKTS:HNGR) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Hanger (OTCMKTS:HNGR) from a strong sell rating to a hold rating in a research note issued to investors 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. “

Separately, TheStreet downgraded shares of 22nd Century Group from a c- rating to a d+ rating in a research report on Friday, March 29th.

HNGR stock opened at $17.15 on Wednesday. Hanger has a 12-month low of $15.60 and a 12-month high of $24.50. The business has a 50 day moving average of $18.57.

Hanger (OTCMKTS:HNGR) last released its earnings results on Wednesday, May 8th. The healthcare company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.08). The business had revenue of $236.42 million for the quarter, compared to the consensus estimate of $243.40 million.

In related news, insider Vinit K. Asar bought 2,700 shares of the business’s stock in a transaction on Friday, May 10th. The stock was bought at an average price of $18.98 per share, for a total transaction of $51,246.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.36% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in HNGR. Victory Capital Management Inc. increased its stake in shares of Hanger by 12.5% during the 1st quarter. Victory Capital Management Inc. now owns 3,639,850 shares of the healthcare company’s stock worth $69,339,000 after purchasing an additional 404,810 shares during the last quarter. Geode Capital Management LLC acquired a new position in shares of Hanger during the 4th quarter worth $6,253,000. Cannell Capital LLC increased its stake in shares of Hanger by 43.0% during the 4th quarter. Cannell Capital LLC now owns 990,750 shares of the healthcare company’s stock worth $18,775,000 after purchasing an additional 297,710 shares during the last quarter. Segall Bryant & Hamill LLC increased its stake in shares of Hanger by 113.9% during the 4th quarter. Segall Bryant & Hamill LLC now owns 541,255 shares of the healthcare company’s stock worth $10,257,000 after purchasing an additional 288,195 shares during the last quarter. Finally, SCW Capital Management LP increased its stake in shares of Hanger by 22.1% during the 1st quarter. SCW Capital Management LP now owns 1,136,330 shares of the healthcare company’s stock worth $21,647,000 after purchasing an additional 205,677 shares during the last quarter. 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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