AngioDynamics (NASDAQ:ANGO) Receives “Buy” Rating from HC Wainwright

AngioDynamics (NASDAQ:ANGO)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research note issued to investors on Friday, Benzinga reports. They currently have a $14.00 target price on the medical instruments supplier’s stock. HC Wainwright’s price target would indicate a potential upside of 134.90% from the stock’s current price.

Separately, Canaccord Genuity Group decreased their price objective on AngioDynamics from $13.00 to $12.00 and set a “buy” rating for the company in a report on Friday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, AngioDynamics presently has an average rating of “Moderate Buy” and an average target price of $12.00.

AngioDynamics Stock Down 6.4 %

Shares of NASDAQ:ANGO traded down $0.41 during mid-day trading on Friday, reaching $5.96. 642,457 shares of the stock were exchanged, compared to its average volume of 519,089. The stock’s 50 day simple moving average is $7.51 and its 200-day simple moving average is $6.62. AngioDynamics has a one year low of $5.26 and a one year high of $8.25. The company has a market cap of $238.73 million, a P/E ratio of -1.23 and a beta of 0.65.

AngioDynamics (NASDAQ:ANGO) last posted its quarterly earnings data on Thursday, October 3rd. The medical instruments supplier reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.04. AngioDynamics had a negative net margin of 61.55% and a negative return on equity of 4.91%. The company had revenue of $67.50 million for the quarter, compared to the consensus estimate of $67.93 million. During the same period last year, the company earned ($0.12) earnings per share. The firm’s revenue was down 14.2% compared to the same quarter last year. Analysts anticipate that AngioDynamics will post -0.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ANGO. Quarry LP lifted its holdings in AngioDynamics by 75.1% during the 2nd quarter. Quarry LP now owns 6,047 shares of the medical instruments supplier’s stock valued at $37,000 after purchasing an additional 2,594 shares during the last quarter. Mackenzie Financial Corp acquired a new position in AngioDynamics in the 2nd quarter valued at about $80,000. AE Wealth Management LLC bought a new position in AngioDynamics in the 2nd quarter valued at about $87,000. State Board of Administration of Florida Retirement System lifted its position in AngioDynamics by 44.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 15,627 shares of the medical instruments supplier’s stock worth $92,000 after acquiring an additional 4,780 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of AngioDynamics during the third quarter worth approximately $103,000. 89.43% of the stock is currently owned by institutional investors and hedge funds.

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.