Zacks Investment Research upgraded shares of Hanger (OTCMKTS:HNGR) from a strong sell rating to a hold rating in a report issued 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 cut 22nd Century Group from a c- rating to a d+ rating in a research report on Friday, March 29th.

Shares of OTCMKTS HNGR opened at $17.15 on Wednesday. The company’s 50 day moving average is $18.57. Hanger has a 52 week low of $15.60 and a 52 week high of $24.50.

Hanger (OTCMKTS:HNGR) last issued its quarterly 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 company had revenue of $236.42 million during the quarter, compared to analysts’ expectations of $243.40 million.

In other Hanger news, insider Vinit K. Asar acquired 2,700 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was bought at an average cost of $18.98 per share, with a total value of $51,246.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.36% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Keybank National Association OH increased its stake in shares of Hanger by 2.2% during the first quarter. Keybank National Association OH now owns 44,175 shares of the healthcare company’s stock worth $842,000 after purchasing an additional 950 shares during the period. CNA Financial Corp increased its stake in shares of Hanger by 9.7% during the first quarter. CNA Financial Corp now owns 22,700 shares of the healthcare company’s stock worth $432,000 after purchasing an additional 2,000 shares during the period. Macquarie Group Ltd. bought a new position in shares of Hanger during the fourth quarter worth approximately $42,000. Bank of Montreal Can increased its stake in shares of Hanger by 3,122.3% during the first quarter. Bank of Montreal Can now owns 8,378 shares of the healthcare company’s stock worth $159,000 after purchasing an additional 8,118 shares during the period. Finally, TD Asset Management Inc. increased its stake in shares of Hanger by 20.4% during the first quarter. TD Asset Management Inc. now owns 49,506 shares of the healthcare company’s stock worth $943,000 after purchasing an additional 8,403 shares during the period. 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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