Hanger (OTCMKTS:HNGR) Upgraded 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 issued to investors on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $27.00 price target 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. “

Shares of HNGR stock traded up $0.55 during trading hours on Tuesday, hitting $24.11. 155,594 shares of the company were exchanged, compared to its average volume of 322,260. The business has a 50 day moving average of $21.20 and a two-hundred day moving average of $19.50. Hanger has a 52 week low of $15.50 and a 52 week high of $25.00.

Hanger (OTCMKTS:HNGR) last issued its quarterly earnings data on Thursday, November 7th. The healthcare company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02. The company had revenue of $279.64 million for the quarter, compared to the consensus estimate of $274.14 million.

In other news, SVP James H. Campbell sold 2,925 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $24.11, for a total transaction of $70,521.75. 2.36% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of the company. CNA Financial Corp increased its position in shares of Hanger by 38.7% during the third quarter. CNA Financial Corp now owns 32,600 shares of the healthcare company’s stock worth $664,000 after acquiring an additional 9,100 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Hanger by 1,364.0% in the third quarter. Tower Research Capital LLC TRC now owns 1,464 shares of the healthcare company’s stock valued at $30,000 after purchasing an additional 1,364 shares in the last quarter. Monarch Partners Asset Management LLC grew its position in Hanger by 548.0% in the third quarter. Monarch Partners Asset Management LLC now owns 206,024 shares of the healthcare company’s stock valued at $4,199,000 after purchasing an additional 174,230 shares in the last quarter. SG Americas Securities LLC bought a new position in Hanger in the third quarter valued at $144,000. Finally, Mackay Shields LLC bought a new position in Hanger in the third quarter valued at $1,618,000. 3.61% of the stock is owned by institutional investors.

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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