Wednesday, October 30, 2013

Hanger (HGR) Reports 3Q'13 Results

Hanger (HGR), the longest held GDT::Portfolio stock, reported 3Q'13 results after the market closed yesterday and I thought they had a good quarter. HGR closed yesterday (02013.10.29) at $35.75. 52-week range: $22.38 - $37.39. Hanger appears to be growing despite the uncertainty of the politics of the health care industry. From the 3Q'13 press release:
The Company anticipates generating cash flow from operations of between $90 million and $100 million in 2013 and investing a total of $35 million to $40 million in capital additions. The Company will continue its acquisition program with a goal of closing acquisitions that total approximately $20 million in annualized revenues in 2013.

It's tempting to place an order to sell some HGR at 12 $Pi ($37.70), but my next target sell price at 13 $Pi ($40.84).

[update::02013.10.31] HGR hit a new 52-week high of $38.14 yesterday (02013.10.30) before closing at $37.35.

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