AngioDynamics (NASDAQ:ANGO) Shares Gap Down – What’s Next?

AngioDynamics, Inc. (NASDAQ:ANGO) gapped down before the market opened on Monday . The stock had previously closed at $12.30, but opened at $11.61. AngioDynamics shares last traded at $12.39, with a volume of 670,475 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ANGO shares. Canaccord Genuity Group lowered their target price on AngioDynamics from $13.00 to $12.00 and set a “buy” rating for the company in a report on Friday, October 4th. HC Wainwright boosted their price target on AngioDynamics from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Friday.

AngioDynamics Price Performance

The firm has a market capitalization of $505.89 million, a price-to-earnings ratio of -2.04 and a beta of 0.59. The stock has a fifty day moving average of $8.23 and a two-hundred day moving average of $7.45.

AngioDynamics (NASDAQ:ANGO) last issued its quarterly earnings data on Wednesday, January 8th. The medical instruments supplier reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.07. AngioDynamics had a negative return on equity of 5.86% and a negative net margin of 83.95%. The company had revenue of $72.90 million during the quarter, compared to the consensus estimate of $70.93 million. During the same period last year, the company earned ($0.05) earnings per share. The firm’s revenue was down .1% compared to the same quarter last year. On average, research analysts forecast that AngioDynamics, Inc. will post -0.41 EPS for the current year.

Institutional Trading of AngioDynamics

Large investors have recently bought and sold shares of the business. Quarry LP increased its holdings in AngioDynamics by 75.1% in the second quarter. Quarry LP now owns 6,047 shares of the medical instruments supplier’s stock worth $37,000 after purchasing an additional 2,594 shares in the last quarter. CWM LLC lifted its position in shares of AngioDynamics by 981.3% during the 3rd quarter. CWM LLC now owns 9,732 shares of the medical instruments supplier’s stock valued at $76,000 after acquiring an additional 8,832 shares during the period. Mackenzie Financial Corp bought a new position in AngioDynamics during the second quarter worth $80,000. Wealth Enhancement Advisory Services LLC acquired a new stake in AngioDynamics in the third quarter worth $86,000. Finally, AE Wealth Management LLC bought a new stake in AngioDynamics in the second quarter valued at $87,000. 89.43% of the stock is currently owned by institutional investors and hedge funds.

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.