AngioDynamics (NASDAQ:ANGO) Share Price Crosses Above 200 Day Moving Average – What’s Next?

AngioDynamics, Inc. (NASDAQ:ANGO)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.73 and traded as high as $7.49. AngioDynamics shares last traded at $7.44, with a volume of 435,277 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ANGO. Canaccord Genuity Group reduced their target price on AngioDynamics from $13.00 to $12.00 and set a “buy” rating for the company in a report on Friday, October 4th. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 target price on shares of AngioDynamics in a research report on Friday, October 4th.

AngioDynamics Trading Up 3.3 %

The business’s 50-day simple moving average is $7.03 and its 200-day simple moving average is $6.73. The company has a market cap of $302.29 million, a PE ratio of -1.22 and a beta of 0.67.

AngioDynamics (NASDAQ:ANGO) last released 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 return on equity of 5.86% and a negative net margin of 83.95%. The firm had revenue of $67.50 million during the quarter, compared to analysts’ expectations of $67.93 million. During the same quarter last year, the firm earned ($0.12) earnings per share. The business’s revenue for the quarter was down 14.2% on a year-over-year basis. On average, research analysts predict that AngioDynamics, Inc. will post -0.41 earnings per share for the current fiscal year.

Insider Transactions at AngioDynamics

In other news, CEO James C. Clemmer purchased 20,000 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was bought at an average cost of $6.03 per share, for a total transaction of $120,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 681,582 shares of the company’s stock, valued at approximately $4,109,939.46. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders purchased 22,568 shares of company stock worth $135,847. 5.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AngioDynamics

Several institutional investors and hedge funds have recently added to or reduced their stakes in ANGO. Systematic Financial Management LP grew its holdings in shares of 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 purchasing an additional 162,972 shares in the last quarter. Millennium Management LLC boosted its stake in AngioDynamics by 41.9% during the second quarter. Millennium Management LLC now owns 1,793,454 shares of the medical instruments supplier’s stock worth $10,850,000 after buying an additional 529,861 shares in the last quarter. Acadian Asset Management LLC boosted its stake in AngioDynamics by 11.9% during the first quarter. Acadian Asset Management LLC now owns 1,012,186 shares of the medical instruments supplier’s stock worth $5,940,000 after buying an additional 107,764 shares in the last quarter. Royce & Associates LP increased its holdings in AngioDynamics by 10.8% in the 3rd quarter. Royce & Associates LP now owns 986,073 shares of the medical instruments supplier’s stock valued at $7,672,000 after buying an additional 96,138 shares during the period. Finally, Segall Bryant & Hamill LLC raised its stake in shares of AngioDynamics by 142.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 911,443 shares of the medical instruments supplier’s stock valued at $7,091,000 after buying an additional 535,958 shares in the last quarter. 89.43% of the stock is currently owned by institutional investors.

About AngioDynamics

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.