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Hanger, Inc. (HNGR) 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.
The Patient Care segment owns and operates Hanger clinic, which specializes in the design, fabrication, and delivery of custom O&P devices through patient care clinics and satellite locations; and provides payor network contracting services to other O&P providers.
The Products & Services segment procures and distributes O&P parts, componentry, and devices to independent O&P providers; and develops specialized rehabilitation technologies and provides evidence-based clinical programs for post-acute rehabilitation to patients at approximately 3,900 skilled nursing and post-acute providers.
This segment also manufactures and sells therapeutic footwear for diabetic patients in the podiatric market. As of March 14, 2019, the company owned and operated approximately 800 patient care clinics in the United States.
On November 7th, Hanger reported 3rd Quarter September 2019 earnings of $0.25 per share on revenue of $279.6 million. The consensus earnings estimate was $0.23 per share on revenue of $273.4 million. Revenue grew 6.3% on a year-over-year basis.
The company said it continues to expect 2019 revenue of $1.075 billion to $1.105 billion. The current consensus estimate is revenue of $1.09 billion for the year ending December 31, 2019. Following the report, shares have formed a bullish "cup and handle" and are expected to move higher out of this formation.
Entry Point: $23.25
Stop Loss: $22.00
Trading Range: $15.50 to 25.00
Target Price: $25.58
HNGR closed at $26.21
