Zacks Investment Research downgraded shares of Hanger (OTCMKTS:HNGR) from a strong-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 Hanger stock opened at $19.38 on Wednesday. The business has a 50 day simple moving average of $20.06 and a two-hundred day simple moving average of $19.04. Hanger has a 12 month low of $15.50 and a 12 month high of $22.00.

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

In related news, insider Jay C. Wendt sold 2,860 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $19.43, for a total value of $55,569.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.36% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of HNGR. National Investment Services Inc. WI purchased a new position in shares of Hanger during the third quarter worth $524,000. Dalton Greiner Hartman Maher & Co. purchased a new position in shares of Hanger during the second quarter worth about $3,013,000. Boston Partners grew its holdings in shares of Hanger by 27.5% during the second quarter. Boston Partners now owns 129,590 shares of the healthcare company’s stock worth $2,482,000 after buying an additional 27,971 shares during the last quarter. Voce Capital Management LLC purchased a new position in shares of Hanger during the second quarter worth about $3,570,000. Finally, Nuveen Asset Management LLC purchased a new stake in Hanger in the 2nd quarter valued at approximately $2,753,000. Institutional investors own 3.61% of the company’s stock.

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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