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

OTCMKTS HNGR opened at $17.15 on Wednesday. Hanger has a 52 week low of $15.60 and a 52 week high of $24.50. The stock has a 50-day moving average price of $18.57.

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

In related news, insider Vinit K. Asar acquired 2,700 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was acquired at an average cost of $18.98 per share, for a total transaction of $51,246.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.36% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. bought a new position in shares of Hanger in the fourth quarter valued at approximately $42,000. Bank of Montreal Can lifted its stake in Hanger by 3,122.3% during the first quarter. Bank of Montreal Can now owns 8,378 shares of the healthcare company’s stock valued at $159,000 after purchasing an additional 8,118 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Hanger during the first quarter valued at approximately $188,000. Weber Alan W acquired a new stake in Hanger during the fourth quarter valued at approximately $190,000. Finally, Squarepoint Ops LLC acquired a new stake in Hanger during the fourth quarter valued at approximately $231,000. Institutional investors and hedge funds 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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