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Shares of Hanger (NYSE:HGR) reached a new 52-week low during mid-day trading on Monday following insider selling activity, AR Network reports. The company traded as low as $20.85 and last traded at $20.93, with a volume of 438,738 shares trading hands. The stock had previously closed at $21.43.

Specifically, CFO George E. Mchenry, Jr. unloaded 2,300 shares of the stock on the open market in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $22.30, for a total transaction of $51,290.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.

A number of research firms have recently commented on HGR. Analysts at SunTrust downgraded shares of Hanger from a “buy” rating to a “neutral” rating in a research note on Monday, August 11th. They now have a $24.00 price target on the stock, down previously from $38.00. Separately, analysts at Jefferies Group cut their price target on shares of Hanger from $41.00 to $30.00 in a research note on Friday, August 8th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Hanger in a research note on Monday, July 28th. They now have a $32.00 price target on the stock.

The stock’s 50-day moving average is $29.01 and its 200-day moving average is $32.27. The company has a market cap of $741.3 million and a price-to-earnings ratio of 13.00.

Hanger (NYSE:HGR) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.40 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.53 by $0.13. The company had revenue of $275.85 million for the quarter, compared to the consensus estimate of $285.51 million. During the same quarter last year, the company posted $0.52 earnings per share. Hanger’s revenue was up 3.0% compared to the same quarter last year. Analysts expect that Hanger will post $1.73 EPS for the current fiscal year.

Hanger, Inc, formerly Hanger Orthopedic Group, Inc, is a provider of services and products that enhance human physical capabilities.

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