AngioDynamics, Inc. (NASDAQ:ANGO) Sees Significant Growth in Short Interest

AngioDynamics, Inc. (NASDAQ:ANGO) saw a significant increase in short interest in June. As of June 30th, there was short interest totalling 1,780,000 shares, an increase of 8.5% from the June 15th total of 1,640,000 shares. Based on an average daily trading volume, of 466,600 shares, the short-interest ratio is currently 3.8 days.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price objective on shares of AngioDynamics in a research report on Wednesday. Oppenheimer raised AngioDynamics from a “market perform” rating to an “outperform” rating and set a $12.00 price target for the company in a report on Friday, April 5th. Finally, Canaccord Genuity Group cut their price objective on shares of AngioDynamics from $18.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.25.

AngioDynamics Stock Performance

Shares of ANGO stock opened at $7.40 on Thursday. The stock’s 50-day moving average is $6.05 and its two-hundred day moving average is $6.05. AngioDynamics has a 1 year low of $5.26 and a 1 year high of $9.77. The firm has a market cap of $296.41 million, a price-to-earnings ratio of -1.53 and a beta of 0.66.

AngioDynamics (NASDAQ:ANGO) last released its quarterly earnings results on Tuesday, July 16th. The medical instruments supplier reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.11. The firm had revenue of $71.00 million for the quarter, compared to the consensus estimate of $70.86 million. AngioDynamics had a negative return on equity of 3.48% and a negative net margin of 60.21%. The firm’s quarterly revenue was down 22.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.02 EPS. As a group, research analysts predict that AngioDynamics will post -0.57 EPS for the current year.

Hedge Funds Weigh In On AngioDynamics

A number of hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio boosted its stake in AngioDynamics by 88.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 63,039 shares of the medical instruments supplier’s stock worth $461,000 after purchasing an additional 29,577 shares during the period. Dynamic Advisor Solutions LLC acquired a new stake in shares of AngioDynamics during the fourth quarter worth about $201,000. Moody National Bank Trust Division boosted its stake in shares of AngioDynamics by 22.8% during the fourth quarter. Moody National Bank Trust Division now owns 15,439 shares of the medical instruments supplier’s stock worth $121,000 after buying an additional 2,866 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of AngioDynamics by 6.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 87,155 shares of the medical instruments supplier’s stock worth $683,000 after buying an additional 5,295 shares during the last quarter. Finally, Williams & Novak LLC purchased a new stake in AngioDynamics during the 4th quarter valued at approximately $179,000. 89.43% of the stock is currently owned by hedge funds and other institutional investors.

AngioDynamics Company Profile

AngioDynamics, Inc provides invasive medical devices used by professional healthcare providers for vascular access, surgery, peripheral vascular disease and oncology in the United States and internationally. It offers Auryon Atherectomy system that is designed to deliver an optimized wavelength, pulse width, and amplitude to remove lesions while preserving vessel wall endothelium for treatment of peripheral arterial disease.