Zacks Investment Research upgraded shares of AngioDynamics, Inc. (NASDAQ:ANGO) from a sell rating to a hold rating in a research report released on Monday.
According to Zacks, “AngioDynamics reported a mixed fourth quarter of fiscal 2017, wherein adjusted earnings beat the Zacks Consensus Estimate while revenues missed the same. The year-over-year decline at the company’s Peripheral Vascular, Vascular Access and Oncology & Surgery business segments marred revenues. Furthermore, the company expects earnings to fall sequentially in FY18. Lackluster performance by the oncology segment was primarily due to market withdrawal of the company’s flagship Acculis Microwave Tissue Ablation System, which also marred international sales. AngioDynamics has a high outstanding debt level at the end of the fourth quarter. This is likely to impose certain operating and financial restrictions, limiting the company’s core business strategies. Over the last one year, AngioDynamics has underperformed the broader industry in terms of price. However, growth in the core Angiographic Catheter business holds promise.”
A number of other research firms have also weighed in on ANGO. BidaskClub lowered AngioDynamics from a hold rating to a sell rating in a report on Tuesday, August 1st. Canaccord Genuity restated a hold rating and set a $17.00 target price on shares of AngioDynamics in a report on Tuesday, July 18th. Cantor Fitzgerald upped their target price on AngioDynamics from $20.00 to $21.00 and gave the stock an overweight rating in a report on Tuesday, July 4th. Finally, Barclays PLC lowered their target price on AngioDynamics from $17.00 to $16.00 and set an equal weight rating for the company in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $18.50.
AngioDynamics (ANGO) traded down 0.18% on Monday, reaching $17.02. The company had a trading volume of 62,443 shares. The stock’s 50-day moving average is $16.26 and its 200-day moving average is $16.18. The company has a market capitalization of $622.59 million, a P/E ratio of 124.23 and a beta of 1.15. AngioDynamics has a 52 week low of $14.80 and a 52 week high of $18.18.
AngioDynamics (NASDAQ:ANGO) last posted its earnings results on Tuesday, July 18th. The medical instruments supplier reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The company had revenue of $86.90 million during the quarter, compared to analyst estimates of $90.72 million. AngioDynamics had a return on equity of 5.19% and a net margin of 2.00%. AngioDynamics’s revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.19 earnings per share. Equities research analysts forecast that AngioDynamics will post $0.67 EPS for the current fiscal year.
In other AngioDynamics news, CEO James C. Clemmer purchased 20,000 shares of AngioDynamics stock in a transaction dated Thursday, July 20th. The shares were acquired at an average cost of $15.64 per share, with a total value of $312,800.00. Following the completion of the transaction, the chief executive officer now owns 86,683 shares in the company, valued at approximately $1,355,722.12. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO James C. Clemmer purchased 5,000 shares of AngioDynamics stock in a transaction dated Friday, July 21st. The shares were acquired at an average cost of $15.79 per share, for a total transaction of $78,950.00. Following the completion of the transaction, the chief executive officer now owns 86,683 shares of the company’s stock, valued at approximately $1,368,724.57. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 25,316 shares of company stock worth $396,806. Insiders own 1.88% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of AngioDynamics during the fourth quarter worth about $2,699,000. OppenheimerFunds Inc. increased its position in shares of AngioDynamics by 21.8% in the first quarter. OppenheimerFunds Inc. now owns 16,130 shares of the medical instruments supplier’s stock worth $280,000 after buying an additional 2,883 shares during the last quarter. Bowling Portfolio Management LLC acquired a new position in shares of AngioDynamics during the first quarter worth about $653,000. Highbridge Capital Management LLC acquired a new position in shares of AngioDynamics during the first quarter worth about $419,000. Finally, Great West Life Assurance Co. Can increased its position in shares of AngioDynamics by 6.6% in the first quarter. Great West Life Assurance Co. Can now owns 43,489 shares of the medical instruments supplier’s stock worth $754,000 after buying an additional 2,702 shares during the last quarter. 89.19% of the stock is currently owned by institutional investors and hedge funds.
AngioDynamics, Inc designs, manufactures and sells a range of medical, surgical and diagnostic devices used by professional healthcare providers for vascular access, for the treatment of peripheral vascular disease and for use in oncology and surgical settings. The Company’s devices are used in minimally invasive, image-guided procedures.
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