AngioDynamics (NASDAQ:ANGO) Given “Buy” Rating at HC Wainwright

AngioDynamics (NASDAQ:ANGO)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $14.00 price objective on the medical instruments supplier’s stock. HC Wainwright’s target price points to a potential upside of 134.90% from the stock’s previous close.

Separately, Canaccord Genuity Group dropped 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. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

AngioDynamics Trading Down 6.4 %

NASDAQ:ANGO traded down $0.41 during trading hours on Friday, hitting $5.96. 642,457 shares of the stock traded hands, compared to its average volume of 519,089. The firm has a 50 day moving average price of $7.51 and a 200 day moving average price of $6.62. The firm has a market cap of $238.73 million, a price-to-earnings ratio of -1.23 and a beta of 0.65. AngioDynamics has a fifty-two week low of $5.26 and a fifty-two week high of $8.25.

AngioDynamics (NASDAQ:ANGO) last issued its earnings results 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 during the quarter, compared to analyst estimates of $67.93 million. During the same quarter last year, the business posted ($0.12) EPS. The company’s revenue for the quarter was down 14.2% on a year-over-year basis. Research analysts predict that AngioDynamics will post -0.41 EPS for the current year.

Hedge Funds Weigh In On AngioDynamics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP increased its stake in shares of AngioDynamics by 75.1% in the second quarter. Quarry LP now owns 6,047 shares of the medical instruments supplier’s stock valued at $37,000 after buying an additional 2,594 shares in the last quarter. Mackenzie Financial Corp bought a new stake in AngioDynamics during the 2nd quarter worth about $80,000. AE Wealth Management LLC acquired a new stake in AngioDynamics in the 2nd quarter valued at about $87,000. State Board of Administration of Florida Retirement System raised its stake in shares of AngioDynamics by 44.1% in 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 acquired a new position 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.