Austin, Texas, -based Hanger (HGR), the nation's leading provider of orthotic and prosthetic (O&P) patient care services, has seen its stock appreciate by more than 65% in the last one year. However, in the last few weeks the stock corrected almost 20% from the top at $37.39, and currently it is hovering around $31. Hanger is currently focusing on expanding its geographical footprint through complementary acquisitions. I believe that the recent correction offers an excellent buying opportunity with ~30% upside in the near-term.
Hanger is a leading distributor of O&P devices in the U.S. Effective from January 2013, the company has realigned its reporting segments into two groups, which are: 1) Patient Care and 2) Products and Services.
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