HC Wainwright Reiterates “Buy” Rating for AngioDynamics (NASDAQ:ANGO)

AngioDynamics (NASDAQ:ANGO)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a report released on Friday, Benzinga reports. They presently have a $14.00 price target on the medical instruments supplier’s stock. HC Wainwright’s price target suggests a potential upside of 81.82% from the stock’s current price.

Separately, Canaccord Genuity Group decreased their target price on shares of AngioDynamics from $18.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, AngioDynamics has an average rating of “Moderate Buy” and an average price target of $12.25.

AngioDynamics Trading Up 1.3 %

Shares of NASDAQ ANGO opened at $7.70 on Friday. AngioDynamics has a 12-month low of $5.26 and a 12-month high of $8.25. The company has a market cap of $308.42 million, a price-to-earnings ratio of -1.59 and a beta of 0.65. The stock’s 50 day simple moving average is $7.42 and its 200 day simple moving average is $6.49.

AngioDynamics (NASDAQ:ANGO) last posted its earnings results on Tuesday, July 16th. The medical instruments supplier reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.11. The company had revenue of $71.00 million for the quarter, compared to analysts’ expectations of $70.86 million. AngioDynamics had a negative return on equity of 4.91% and a negative net margin of 61.55%. The firm’s quarterly revenue was down 22.1% compared to the same quarter last year. During the same period last year, the business posted $0.02 earnings per share. As a group, equities analysts forecast that AngioDynamics will post -0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AngioDynamics

Several institutional investors have recently bought and sold shares of ANGO. Systematic Financial Management LP increased its stake 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 valued at $12,763,000 after buying an additional 162,972 shares during the period. Millennium Management LLC lifted its position in AngioDynamics by 41.9% in the second quarter. Millennium Management LLC now owns 1,793,454 shares of the medical instruments supplier’s stock worth $10,850,000 after purchasing an additional 529,861 shares during the period. Acadian Asset Management LLC increased its position in shares of AngioDynamics by 11.9% during the 1st quarter. Acadian Asset Management LLC now owns 1,012,186 shares of the medical instruments supplier’s stock valued at $5,940,000 after purchasing an additional 107,764 shares during the period. Armistice Capital LLC bought a new stake in shares of AngioDynamics in the 4th quarter worth $6,272,000. Finally, Western Standard LLC lifted its holdings in shares of AngioDynamics by 878.5% in the first quarter. Western Standard LLC now owns 523,393 shares of the medical instruments supplier’s stock valued at $3,072,000 after buying an additional 469,906 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.