Short Interest in AngioDynamics, Inc. (NASDAQ:ANGO) Declines By 12.3%

AngioDynamics, Inc. (NASDAQ:ANGO) was the target of a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 1,000,000 shares, a decline of 12.3% from the November 30th total of 1,140,000 shares. Based on an average trading volume of 582,000 shares, the days-to-cover ratio is presently 1.7 days.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ANGO shares. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price objective on shares of AngioDynamics in a research report on Tuesday, December 10th. Canaccord Genuity Group reduced their price target on shares of AngioDynamics from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, October 4th.

AngioDynamics Trading Up 1.6 %

ANGO opened at $9.05 on Tuesday. The company has a market cap of $367.74 million, a P/E ratio of -1.49 and a beta of 0.68. The company’s 50 day moving average is $7.61 and its 200-day moving average is $7.16. AngioDynamics has a 1-year low of $5.26 and a 1-year high of $9.58.

AngioDynamics (NASDAQ:ANGO) last released its quarterly earnings results on Thursday, October 3rd. The medical instruments supplier reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.04. AngioDynamics had a negative return on equity of 5.86% and a negative net margin of 83.95%. The company had revenue of $67.50 million for the quarter, compared to analysts’ expectations of $67.93 million. During the same period in the previous year, the business posted ($0.12) earnings per share. The business’s quarterly revenue was down 14.2% compared to the same quarter last year. On average, equities analysts forecast that AngioDynamics will post -0.41 EPS for the current year.

Insider Buying and Selling

In other AngioDynamics news, CEO James C. Clemmer purchased 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were acquired at an average cost of $6.03 per share, for a total transaction of $120,600.00. Following the completion of the purchase, the chief executive officer now owns 681,582 shares of the company’s stock, valued at approximately $4,109,939.46. The trade was a 3.02 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have acquired 22,568 shares of company stock valued at $135,847. 5.40% of the stock is owned by insiders.

Hedge Funds Weigh In On AngioDynamics

A number of hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in AngioDynamics by 28.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 553,161 shares of the medical instruments supplier’s stock worth $4,304,000 after purchasing an additional 123,271 shares during the last quarter. Barclays PLC raised its stake in AngioDynamics by 81.0% during the third quarter. Barclays PLC now owns 83,582 shares of the medical instruments supplier’s stock worth $651,000 after buying an additional 37,394 shares during the last quarter. Geode Capital Management LLC lifted its holdings in AngioDynamics by 5.1% in 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 buying an additional 46,409 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in AngioDynamics during the third quarter valued at $280,000. Finally, XTX Topco Ltd acquired a new stake in AngioDynamics during the 3rd quarter worth about $582,000. 89.43% of the stock is currently owned by institutional investors.

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.