Hanger Stays Neutral - Analyst Blog
23 3월 2013 - 3:10AM
Zacks
On Mar 21, we retained Hanger Inc. (HGR) at
Neutral, following its solid fourth-quarter 2012 results. In spite
of the upbeat performance, we remain on the sidelines given the
uncertain healthcare environment.
Why the Retention?
On Feb 13, Hanger’s adjusted earnings of 58 cents per share for
the fourth quarter of 2012 surpassed the Zacks Consensus Estimate
by 2 cents. Profits surged 16% on the back of organic growth across
all 3 businesses coupled with accretive acquisitions and controlled
expenses.
Revenues increased 9.7% year over year to $272.2 million in the
quarter, beating the Zacks Consensus Estimate of $268.0 million.
The company’s Therapeutic business showed signs of a turnaround in
the quarter.
The company’s earnings have also managed to beat the Zacks
Consensus Estimates in the last 4 quarters with an average surprise
of 5.20%. Following the earnings release, the Zacks Consensus
Estimate for 2013 has moved up by 3.0% to $2.06 per share, but
dropped 2.5% to $2.31 per share for 2014.
Hanger enjoys a sovereign position in the orthotic and
prosthetic (O&P) market and continues to gain market share. The
company is focusing on expanding its geographical footprint and
revenues through complementary acquisitions.
However, Hanger remains affected by a host of macro issues
including sequestration, fiscal cliff negotiations and measures
(including Medicare and Medicaid reimbursement cuts) adopted by the
state governments to cover budget deficits. Moreover, the impact of
the medical devices tax is likely to put pressure on the company’s
margins. These factors are apprehended to weigh on the company’s
results going forward.
Other Stocks to Consider
Other large-cap medical products companies such as
Nuvasive (NUVA), carrying a Zacks Rank #1 (Strong
Buy), as well as Abaxis (ABAX) and Edwards
Lifesciences Corp. (EW), which carry a Zacks Rank #2
(Buy), are expected to do well in the medical industry.
ABAXIS INC (ABAX): Free Stock Analysis Report
EDWARDS LIFESCI (EW): Free Stock Analysis Report
HANGER ORTHOPED (HGR): Free Stock Analysis Report
NUVASIVE INC (NUVA): Free Stock Analysis Report
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Abaxis, Inc. (delisted) (NASDAQ:ABAX)
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Abaxis, Inc. (delisted) (NASDAQ:ABAX)
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부터 7월(7) 2023 으로 7월(7) 2024