AngioDynamics (NASDAQ:ANGO) Price Target Cut to $12.00 by Analysts at Canaccord Genuity Group

AngioDynamics (NASDAQ:ANGO) had its price target lowered by equities researchers at Canaccord Genuity Group from $13.00 to $12.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the medical instruments supplier’s stock. Canaccord Genuity Group’s price target would indicate a potential upside of 103.39% from the stock’s current price.

Separately, HC Wainwright restated a “buy” rating and set a $14.00 target price on shares of AngioDynamics in a research note on Friday, September 20th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.00.

AngioDynamics Trading Down 7.4 %

ANGO traded down $0.47 during midday trading on Friday, hitting $5.90. The company’s stock had a trading volume of 477,799 shares, compared to its average volume of 517,999. AngioDynamics has a 52-week low of $5.26 and a 52-week high of $8.25. The firm has a market cap of $236.32 million, a P/E ratio of -1.23 and a beta of 0.65. The firm has a 50-day moving average price of $7.51 and a two-hundred day moving average price of $6.62.

AngioDynamics (NASDAQ:ANGO) last issued its quarterly earnings results on Thursday, October 3rd. The medical instruments supplier reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.04. The business had revenue of $67.50 million during the quarter, compared to the consensus estimate of $67.93 million. AngioDynamics had a negative return on equity of 4.91% and a negative net margin of 61.55%. The business’s quarterly revenue was down 14.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.12) EPS. On average, equities analysts expect that AngioDynamics will post -0.41 EPS for the current year.

Hedge Funds Weigh In On AngioDynamics

Institutional investors have recently bought and sold shares of the company. Millennium Management LLC increased its stake 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 purchasing an additional 529,861 shares in the last quarter. Fund 1 Investments LLC acquired a new position in AngioDynamics during the 4th quarter valued at approximately $3,896,000. Western Standard LLC grew its position in AngioDynamics by 878.5% during 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. First Eagle Investment Management LLC acquired a new stake in shares of AngioDynamics in the second quarter valued at about $1,321,000. Finally, Systematic Financial Management LP raised its stake in shares of AngioDynamics by 8.4% in 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 acquiring an additional 162,972 shares during the period. 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.