AngioDynamics’ (ANGO) Buy Rating Reaffirmed at HC Wainwright

AngioDynamics (NASDAQ:ANGO)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a note issued to investors on Friday, Benzinga reports. They presently have a $14.00 target price on the medical instruments supplier’s stock. HC Wainwright’s price objective points to a potential upside of 81.82% from the company’s current price.

Separately, Canaccord Genuity Group lowered their price objective 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 analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AngioDynamics currently has a consensus rating of “Moderate Buy” and an average target price of $12.25.

AngioDynamics Price Performance

NASDAQ ANGO opened at $7.70 on Friday. AngioDynamics has a 1-year low of $5.26 and a 1-year high of $8.25. The firm has a market capitalization of $308.42 million, a P/E ratio of -1.59 and a beta of 0.65. The business’s 50-day simple moving average is $7.42 and its 200-day simple moving average is $6.49.

AngioDynamics (NASDAQ:ANGO) last released its quarterly earnings data on Tuesday, July 16th. The medical instruments supplier reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.11. AngioDynamics had a negative net margin of 61.55% and a negative return on equity of 4.91%. The company had revenue of $71.00 million during the quarter, compared to analyst estimates of $70.86 million. During the same quarter in the prior year, the business earned $0.02 earnings per share. The business’s quarterly revenue was down 22.1% compared to the same quarter last year. On average, equities research analysts expect that AngioDynamics will post -0.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Quarry LP increased its position in shares of AngioDynamics by 75.1% in the 2nd quarter. Quarry LP now owns 6,047 shares of the medical instruments supplier’s stock worth $37,000 after purchasing an additional 2,594 shares during the last quarter. Quest Partners LLC acquired a new stake in AngioDynamics during the fourth quarter valued at approximately $69,000. RPO LLC bought a new position in AngioDynamics during the 4th quarter worth approximately $83,000. Mackenzie Financial Corp acquired a new position in shares of AngioDynamics in the 2nd quarter worth approximately $80,000. Finally, AE Wealth Management LLC bought a new stake in shares of AngioDynamics in the 2nd quarter valued at approximately $87,000. 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.