AngioDynamics (NASDAQ:ANGO) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

AngioDynamics, Inc. (NASDAQ:ANGO)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.68 and traded as high as $7.34. AngioDynamics shares last traded at $7.27, with a volume of 1,677,140 shares changing hands.

Wall Street Analysts Forecast Growth

ANGO has been the topic of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price target on shares of AngioDynamics in a report on Friday, October 4th. Canaccord Genuity Group lowered their price target on AngioDynamics from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, October 4th.

AngioDynamics Trading Up 11.2 %

The company has a market capitalization of $291.20 million, a PE ratio of -1.50 and a beta of 0.65. The stock has a fifty day moving average of $7.17 and a two-hundred day moving average of $6.68.

AngioDynamics (NASDAQ:ANGO) last announced its quarterly earnings data 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 company had revenue of $67.50 million for the quarter, compared to analysts’ expectations of $67.93 million. AngioDynamics had a negative return on equity of 5.86% and a negative net margin of 83.95%. AngioDynamics’s revenue for the quarter was down 14.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.12) EPS. Equities analysts forecast that AngioDynamics, Inc. will post -0.41 EPS for the current year.

Insider Activity at AngioDynamics

In other news, CEO James C. Clemmer acquired 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were bought at an average cost of $6.03 per share, with a total value of $120,600.00. Following the acquisition, the chief executive officer now owns 681,582 shares in the company, valued at approximately $4,109,939.46. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have bought 22,568 shares of company stock valued at $135,847. Corporate insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On AngioDynamics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC grew its position in AngioDynamics by 981.3% during the 3rd quarter. CWM LLC now owns 9,732 shares of the medical instruments supplier’s stock worth $76,000 after acquiring an additional 8,832 shares during the last quarter. SG Americas Securities LLC bought a new position in AngioDynamics during the 3rd quarter worth approximately $103,000. Quarry LP grew its position in AngioDynamics by 75.1% during the 2nd quarter. Quarry LP now owns 6,047 shares of the medical instruments supplier’s stock worth $37,000 after acquiring an additional 2,594 shares during the last quarter. Systematic Financial Management LP grew its position in AngioDynamics by 8.4% during the 2nd quarter. Systematic Financial Management LP now owns 2,109,561 shares of the medical instruments supplier’s stock worth $12,763,000 after acquiring an additional 162,972 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new stake in shares of AngioDynamics in the 2nd quarter worth approximately $80,000. 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.