Jefferies Reiterates Buy Rating On Hanger Orthopedic

According to Jefferies, Hanger Orthopedic HGR Buy rating is reiterated. Jefferies said that, while concerns regarding the impact of the debt ceiling bill on Medicare reimbursement for H/C providers understandably pressured H/C services names yesterday, the sell-off in HGR -- which was exacerbated by concerns regarding the impact of the steep Medicare cuts to skilled nursing providers on HGR's ACP division -- in our view, is overdone, particularly since ACP represents only 6% of revenues and 11% of EBITDA.” Hanger Orthopedic closed yesterday at $19.34.