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Hanger (HNGR)

About Hanger, Inc.- Hanger, Inc. delivers orthotic and prosthetic (O&P) patient care, and distributes O&P products and rehabilitative solutions to the broader market. Hanger's Patient Care segment is the largest owner and operator of O&P patient care clinics withapproximately 800locationsnationwide. Through its Products & Services segment, Hanger distributes branded and private label O&P devices, products and components, and provides rehabilitative solutions. With nearly 160 years of clinical excellence and innovation, Hanger's vision is to lead the orthotic and prosthetic markets by providing superior patient care, outcomes, services and value.

Company profile

Ticker
HNGR
Exchange
Website
CEO
Vinit Asar
Employees
Incorporated
Location
Fiscal year end
Former names
HANGER ORTHOPEDIC GROUP INC
SEC CIK
Subsidiaries
Accelerated Care Plus Corp. • Accelerated Care Plus Leasing, Inc. • Advanced Orthopro, Inc • Advanced Prosthetics Center, LLC • Alliance Orthotics and Prosthetics, LLC • Bio-Tech Prosthetics and Orthotics, Inc. • Bio-Tech Prosthetics and Orthotics of High Point, Inc. • BioTech Prosthetics and Orthotics of Durham, Inc. • Boas Surgical, Inc. • Center for Orthotic & Prosthetic Care of North Carolina, Inc. ...
IRS number
840904275

HNGR stock data

Calendar

4 May 22
26 Jun 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 37.42M 37.42M 37.42M 37.42M 37.42M 37.42M
Cash burn (monthly) 8.09M 2.74M 3.36M (no burn) 2.77M (no burn)
Cash used (since last report) 23.26M 7.88M 9.67M n/a 7.95M n/a
Cash remaining 14.17M 29.54M 27.75M n/a 29.47M n/a
Runway (months of cash) 1.8 10.8 8.3 n/a 10.7 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
21 Jun 22 Jolly Keri Common Stock Payment of exercise Dispose F No No 14.51 990 14.36K 37,997
2 Jun 22 Ahmad Asif Common Stock Grant Acquire A No No 0 9,911 0 70,837
2 Jun 22 Begley Christopher B Common Stock Grant Acquire A No No 0 9,911 0 76,414
2 Jun 22 Fox John T Common Stock Grant Acquire A No No 0 9,911 0 43,561
2 Jun 22 Freyman Thomas C Common Stock Grant Acquire A No No 0 9,911 0 43,561
93.8% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 131 133 -1.5%
Opened positions 12 20 -40.0%
Closed positions 14 20 -30.0%
Increased positions 42 44 -4.5%
Reduced positions 55 43 +27.9%
13F shares Current Prev Q Change
Total value 671.17M 2.26B -70.2%
Total shares 36.61M 36.23M +1.0%
Total puts 0 0
Total calls 0 76K EXIT
Total put/call ratio
Largest owners Shares Value Change
BLK Blackrock 6.18M $113.33M +0.4%
TROW T. Rowe Price 4.13M $75.75M -0.4%
William Blair Investment Management 3.87M $71.01M -3.2%
Victory Capital Management 3.47M $63.5M +0.1%
Vanguard 2.53M $46.36M +0.3%
Hotchkis & Wiley Capital Management 2.49M $45.61M +25.7%
STT State Street 1.38M $25.23M +2.1%
Palisade Capital Management 980.3K $17.97M -3.4%
FMR 804.97K $14.76M +0.9%
RBF Capital 759.12K $13.92M -2.5%
Largest transactions Shares Bought/sold Change
Hotchkis & Wiley Capital Management 2.49M +508.97K +25.7%
York Capital Management Global Advisors 269.06K +269.06K NEW
William Blair Investment Management 3.87M -128.52K -3.2%
Balyasny Asset Management 192.89K -118.27K -38.0%
GS Goldman Sachs 574.82K +91.54K +18.9%
Monarch Partners Asset Management 67.58K -88.91K -56.8%
Citadel Advisors 86.33K +86.33K NEW
Foundry Partners 306.38K +70.3K +29.8%
Panagora Asset Management 104.13K -63.23K -37.8%
Dimensional Fund Advisors 709.12K +38.81K +5.8%

Financial report summary

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Risks
  • Health care reform has initiated significant changes to the United States health care system and we expect to see further changes in the health care system in the future.
  • Changes in government reimbursement levels could adversely affect our Patient Care segment’s net revenue, cash flows, and profitability.
  • If the average rates that commercial payors pay us decline significantly, then it would have a material adverse effect on our Patient Care segment’s net revenues, earnings, and cash flows.
  • We depend on reimbursements by third party payors, as well as payments by individuals, which could lead to delays and uncertainties in the Patient Care segment’s reimbursement process.
  • Due to constraints in the growth of our rates of reimbursement, we may face cost pressures that could adversely affect our profitability.
  • Changes in government reimbursement levels could adversely affect our Products & Services segment’s net revenues, cash flows, and profitability.
  • We face periodic reviews, audits, and investigations under our contracts with federal and state government agencies, and these audits could have adverse findings that may negatively impact our business.
  • Our results of operations can be adversely affected by labor shortages, turnover, and labor cost increases.
  • Our results of operations can be adversely affected by inflation and other general cost increases.
  • Cyber attacks, system security risks, data breaches, and other technology failures could adversely affect our ability to conduct business, our results of operations, and our financial position.
  • We utilize information technology systems to support our business. Our multi-year implementation of an enterprise-wide resource planning system, reliance upon multiple legacy business systems, security breaches, or other disruptions to our information technology systems or assets, could interfere with our operations, compromise security of our customers’ or suppliers’ information and expose us to liability which could adversely impact our business and reputation.
  • Disruptions in our disaster recovery systems, management continuity planning, or information systems could limit our ability to operate our business effectively, or adversely affect our financial condition and results of operations.
  • We have made and may continue to make acquisitions, which could divert the attention of management and which may not be integrated successfully into our existing business. We may not find suitable acquisitions in the future, which could adversely affect our ability to penetrate new markets and achieve our growth objectives.
  • We face new competitors in the O&P patient care services market.
  • The O&P patient care services industry in the United States is consolidating, and this consolidation could adversely affect the distribution business in our Products & Services segment.
  • Disruption of our supply chain could adversely affect our net revenue, cash flow, and profitability.
  • Consolidation of manufacturers within the O&P industry may adversely affect our business by increasing prices we pay for certain devices and components.
  • In order to remain competitive, we are required to make capital expenditures to maintain our systems, properties, and our equipment.
  • Our products and services face the risk of technological obsolescence, which, if realized, could have a material adverse effect on our business.
  • We depend on our ability to recruit and retain experienced clinicians.
  • Given the complexities and demands related to reimbursement, we may fail to adequately provide the staffing and systems necessary to ensure we effectively manage our reimbursement processes.
  • If we are unable to retain our senior management and key employees, then our business and results of operations and financial position could be harmed.
  • Our failure to economically procure necessary components and to conduct timely and effective inventories of the materials and components we use in our business could result in an adverse effect on our business, financial condition, and results of operations.
  • Insurance coverage for some of our losses may be inadequate and may be subject to the credit risk of commercial insurance companies.
  • COVID-19 vaccination mandates adopted by federal, state, and local governments, as well as by certain healthcare systems, could have a material adverse impact on our business and results of operations.
  • A cybersecurity incident could cause a violation of HIPAA and other privacy laws and regulations or result in a loss of confidential data.
  • We are subject to numerous federal, state, and local governmental regulations, noncompliance with which could result in significant penalties that could have a material adverse effect on our business.
  • Our non-compete agreements and other restrictive covenants involving clinicians may not be enforceable.
  • We may not be able to adequately protect our intellectual property and other proprietary rights that are material to our business or to defend successfully against intellectual property infringement claims by third parties.
  • We have substantial indebtedness, and our failure to comply with the covenants and payment requirements of that indebtedness may subject us to increased interest expenses, lender consent and amendment costs, or adverse financial consequences.
  • The market price of our common stock may fluctuate significantly.
  • If securities or industry analysts do not publish research or publish misleading or unfavorable research about our business, our stock price and trading volume could decline.
  • We do not intend to pay dividends on our common stock and, consequently, your ability to achieve a return on your investment will depend on appreciation in the price of our common stock.
Management Discussion
  • Relevance of First Quarter Results to Comparative and Future Periods. As discussed in “Effects of the COVID-19 Pandemic” above, commencing late in the first quarter of 2020, our revenues and operating results began to be adversely affected by the COVID-19 pandemic, a trend that continued into 2022. The effects of this public health emergency on our revenues and earnings impacted the comparison to our historical financial results. As a result, our comparative financial and operational results when viewed as a whole for the periods impacted by the COVID-19 pandemic may not be indicative of future financial and operational performance. Please refer to the “Effects of the COVID-19 Pandemic” section above and the “Financial Condition, Liquidity and Capital Resources” section below for additional forward-looking information concerning our current expectations regarding the effect of the COVID-19 pandemic on our prospective results and financial condition.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
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Patents

Utility
Activity, Wear, and Stability Tracking Devices, Systems, and Methods Transmitting Over Cellular Network
23 Jun 22
A tracking device includes a housing that can be mounted to a patient or a prosthetic device or orthotic device of the patient.
Utility
Additive Manufacturing Techniques for Protective Devices, Prosthetics, and Orthotics
16 Jun 22
A lower extremity prosthetic socket, according to some embodiments.
Utility
Additive Manufacturing Techniques for Protective Devices
16 Jun 22
A protective device for an upper extremity post-operative residual limb of a user.
Utility
Additive Manufacturing Techniques for Orthotics
16 Jun 22
An orthotic device for a patient's foot includes a shell that is configured to structurally support the patient's foot.
Utility
Systems and Methods for Encoded Clinical Data Communication
16 Jun 22
A clinical communication system includes a first device, which can include one or more processors configured to receive a first command to receive clinical data from a second device, operate, responsive to receiving the first command, an image capture device, detect, by the image capture device, a first image representing the clinical data, identify a first patient associated with the clinical data, transmit, using communications circuitry, an identifier of the first patient and at least one of the first image or the clinical data to a third device, receive, using the communications circuitry, presentation data corresponding to the clinical data, and present a user interface representing the presentation data.