Canaccord Genuity Group Cuts AngioDynamics (NASDAQ:ANGO) Price Target to $12.00

AngioDynamics (NASDAQ:ANGO) had its price objective reduced by Canaccord Genuity Group from $13.00 to $12.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

Separately, HC Wainwright restated a buy rating and issued a $14.00 target price on shares of AngioDynamics in a research report on Friday, September 20th.

AngioDynamics Stock Down 4.2 %

Shares of ANGO stock opened at $6.10 on Friday. AngioDynamics has a 12-month low of $5.26 and a 12-month high of $8.25. The company has a market capitalization of $244.34 million, a PE ratio of -1.26 and a beta of 0.65. The firm has a 50 day moving average price of $7.48 and a two-hundred day moving average price of $6.64.

AngioDynamics (NASDAQ:ANGO) last announced its earnings results on Thursday, October 3rd. The medical instruments supplier reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.04. The firm had revenue of $67.50 million for the quarter, compared to analyst estimates of $67.93 million. AngioDynamics had a negative net margin of 61.55% and a negative return on equity of 4.91%. The business’s revenue was down 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.12) EPS. As a group, research analysts expect that AngioDynamics will post -0.41 EPS for the current year.

Hedge Funds Weigh In On AngioDynamics

Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of AngioDynamics during the third quarter worth about $103,000. Quarry LP boosted its position in AngioDynamics by 75.1% during the 2nd quarter. Quarry LP now owns 6,047 shares of the medical instruments supplier’s stock worth $37,000 after buying an additional 2,594 shares during the period. Systematic Financial Management LP grew its holdings in AngioDynamics by 8.4% during the 2nd quarter. Systematic Financial Management LP now owns 2,109,561 shares of the medical instruments supplier’s stock worth $12,763,000 after acquiring an additional 162,972 shares during the last quarter. Mackenzie Financial Corp acquired a new position in AngioDynamics in the 2nd quarter valued at approximately $80,000. Finally, Millennium Management LLC increased its position in AngioDynamics by 41.9% in the 2nd quarter. Millennium Management LLC now owns 1,793,454 shares of the medical instruments supplier’s stock valued at $10,850,000 after acquiring an additional 529,861 shares during the period. Institutional investors and hedge funds own 89.43% of the company’s stock.

About AngioDynamics

AngioDynamics, Inc, a medical technology company, engages in the design, manufacture, and sale of medical, surgical, and diagnostic devices for the use in treating peripheral vascular disease, and oncology and surgical settings in the United States and internationally. The company offers Auryon Atherectomy system that is designed to deliver an optimized wavelength, pulse width, and amplitude to remove lesions while preserving vessel wall endothelium.