AngioDynamics (NASDAQ:ANGO) Shares Up 6.2% – Should You Buy?

Shares of AngioDynamics, Inc. (NASDAQ:ANGO) rose 6.2% during mid-day trading on Thursday . The stock traded as high as $12.91 and last traded at $12.93. Approximately 416,305 shares changed hands during trading, a decline of 66% from the average daily volume of 1,234,555 shares. The stock had previously closed at $12.17.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ANGO shares. Canaccord Genuity Group dropped their price target on shares of AngioDynamics from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. HC Wainwright lifted their price objective on AngioDynamics from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, January 10th.

AngioDynamics Stock Down 2.7 %

The company has a market cap of $503.04 million, a P/E ratio of -2.21 and a beta of 0.59. The company has a fifty day moving average of $8.75 and a 200 day moving average of $7.65.

AngioDynamics (NASDAQ:ANGO) last released its quarterly earnings results on Wednesday, January 8th. The medical instruments supplier reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.07. The business had revenue of $72.90 million during the quarter, compared to the consensus estimate of $70.93 million. AngioDynamics had a negative return on equity of 7.26% and a negative net margin of 79.38%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.05) EPS. As a group, research analysts forecast that AngioDynamics, Inc. will post -0.36 EPS for the current year.

Insider Transactions at AngioDynamics

In other news, SVP Warren Nighan, Jr. sold 4,060 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $12.31, for a total transaction of $49,978.60. Following the sale, the senior vice president now directly owns 41,817 shares in the company, valued at $514,767.27. This trade represents a 8.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On AngioDynamics

Institutional investors have recently bought and sold shares of the business. Systematic Financial Management LP grew its position in shares of AngioDynamics by 14.3% during the third quarter. Systematic Financial Management LP now owns 2,410,346 shares of the medical instruments supplier’s stock worth $18,752,000 after purchasing an additional 300,785 shares in the last quarter. Millennium Management LLC raised its position in shares of AngioDynamics by 41.9% during the second quarter. Millennium Management LLC now owns 1,793,454 shares of the medical instruments supplier’s stock valued at $10,850,000 after buying an additional 529,861 shares during the last quarter. Royce & Associates LP boosted its position in shares of AngioDynamics by 10.8% during the third quarter. Royce & Associates LP now owns 986,073 shares of the medical instruments supplier’s stock worth $7,672,000 after acquiring an additional 96,138 shares during the last quarter. Geode Capital Management LLC grew its stake in AngioDynamics by 5.1% during the third quarter. Geode Capital Management LLC now owns 960,767 shares of the medical instruments supplier’s stock valued at $7,477,000 after acquiring an additional 46,409 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its stake in AngioDynamics by 142.7% during the third quarter. Segall Bryant & Hamill LLC now owns 911,443 shares of the medical instruments supplier’s stock valued at $7,091,000 after acquiring an additional 535,958 shares in the last quarter. Hedge funds and other institutional investors 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.