AngioDynamics, Inc. (NASDAQ:ANGO) Short Interest Up 78.6% in January

AngioDynamics, Inc. (NASDAQ:ANGO) was the recipient of a significant growth in short interest in January. As of January 31st, there was short interest totalling 1,470,000 shares, a growth of 78.6% from the January 15th total of 822,900 shares. Based on an average trading volume of 677,900 shares, the days-to-cover ratio is presently 2.2 days.

Insiders Place Their Bets

In other AngioDynamics news, SVP Warren Nighan, Jr. sold 4,060 shares of the company’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 of the company’s stock, valued at approximately $514,767.27. This represents a 8.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On AngioDynamics

Several institutional investors and hedge funds have recently modified their holdings of the business. Systematic Financial Management LP grew its stake in shares of AngioDynamics by 14.3% in the third quarter. Systematic Financial Management LP now owns 2,410,346 shares of the medical instruments supplier’s stock valued at $18,752,000 after acquiring an additional 300,785 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of AngioDynamics by 10.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,488,667 shares of the medical instruments supplier’s stock valued at $13,636,000 after acquiring an additional 135,007 shares in the last quarter. Segall Bryant & Hamill LLC grew its stake in AngioDynamics by 55.3% during the fourth quarter. Segall Bryant & Hamill LLC now owns 1,415,156 shares of the medical instruments supplier’s stock worth $12,963,000 after buying an additional 503,713 shares in the last quarter. Royce & Associates LP grew its stake in AngioDynamics by 13.5% during the fourth quarter. Royce & Associates LP now owns 1,119,385 shares of the medical instruments supplier’s stock worth $10,254,000 after buying an additional 133,312 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in AngioDynamics by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 974,302 shares of the medical instruments supplier’s stock worth $8,927,000 after buying an additional 13,535 shares in the last quarter. 89.43% of the stock is currently owned by institutional investors and hedge funds.

AngioDynamics Price Performance

Shares of ANGO opened at $10.34 on Friday. The firm has a market capitalization of $418.46 million, a PE ratio of -1.84 and a beta of 0.60. The company’s 50-day moving average is $10.49 and its 200-day moving average is $8.32. AngioDynamics has a fifty-two week low of $5.26 and a fifty-two week high of $13.50.

AngioDynamics (NASDAQ:ANGO) last issued its quarterly earnings data on Wednesday, January 8th. The medical instruments supplier reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.07. AngioDynamics had a negative net margin of 79.38% and a negative return on equity of 7.26%. The company had revenue of $72.90 million for the quarter, compared to analyst estimates of $70.93 million. During the same period in the prior year, the firm earned ($0.05) earnings per share. The company’s revenue was down .1% on a year-over-year basis. Analysts predict that AngioDynamics will post -0.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, HC Wainwright increased their price objective on shares of AngioDynamics from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, January 10th.

AngioDynamics Company Profile

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.