Hanger (OTCMKTS:HNGR) Upgraded to “Strong-Buy” at Zacks Investment Research

Hanger (OTCMKTS:HNGR) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday, Zacks.com reports. The firm presently has a $23.00 price target on the healthcare company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 20.42% from the company’s previous close.

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 Hanger stock opened at $19.10 on Wednesday. Hanger has a 1 year low of $15.50 and a 1 year high of $24.50. The company’s fifty day moving average is $17.52 and its two-hundred day moving average is $19.03.

Hanger (OTCMKTS:HNGR) last issued its quarterly earnings data on Wednesday, August 7th. The healthcare company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.05. The business had revenue of $281.10 million for the quarter, compared to analysts’ expectations of $276.31 million.

In other news, insider Jay C. Wendt sold 2,860 shares of Hanger stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $19.43, for a total value of $55,569.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.36% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. Quantamental Technologies LLC boosted its holdings in shares of Hanger by 300.0% in the second quarter. Quantamental Technologies LLC now owns 1,600 shares of the healthcare company’s stock valued at $31,000 after acquiring an additional 1,200 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in Hanger during the fourth quarter worth about $42,000. BNP Paribas Arbitrage SA boosted its holdings in Hanger by 203.8% during the second 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Hanger during the second quarter worth about $64,000. Finally, Aperio Group LLC purchased a new stake in Hanger during the second quarter worth about $124,000. 3.61% of the stock is currently owned by institutional investors and hedge funds.

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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