First Eagle Investment Management LLC Makes New $1.32 Million Investment in AngioDynamics, Inc. (NASDAQ:ANGO)

First Eagle Investment Management LLC purchased a new position in AngioDynamics, Inc. (NASDAQ:ANGO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 218,369 shares of the medical instruments supplier’s stock, valued at approximately $1,321,000. First Eagle Investment Management LLC owned about 0.55% of AngioDynamics as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in shares of AngioDynamics by 9.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 33,772 shares of the medical instruments supplier’s stock worth $199,000 after purchasing an additional 2,821 shares during the period. State Board of Administration of Florida Retirement System lifted its position in shares of AngioDynamics by 44.1% in the 1st 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 purchasing an additional 4,780 shares during the period. Quest Partners LLC purchased a new stake in shares of AngioDynamics in the 4th quarter worth about $69,000. RPO LLC purchased a new stake in shares of AngioDynamics in the 4th quarter worth about $83,000. Finally, Bank of New York Mellon Corp lifted its position in shares of AngioDynamics by 9.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 174,742 shares of the medical instruments supplier’s stock worth $1,057,000 after purchasing an additional 15,412 shares during the period. Institutional investors own 89.43% of the company’s stock.

AngioDynamics Price Performance

Shares of NASDAQ ANGO opened at $7.54 on Friday. AngioDynamics, Inc. has a 1 year low of $5.26 and a 1 year high of $8.25. The stock has a market cap of $302.01 million, a P/E ratio of -1.56 and a beta of 0.65. The firm has a 50-day moving average of $7.45 and a 200 day moving average of $6.51.

AngioDynamics (NASDAQ:ANGO) last issued its earnings results 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. The business had revenue of $71.00 million during the quarter, compared to analysts’ expectations of $70.86 million. AngioDynamics had a negative net margin of 61.55% and a negative return on equity of 4.91%. The business’s revenue for the quarter was down 22.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.02 earnings per share. Research analysts expect that AngioDynamics, Inc. will post -0.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Canaccord Genuity Group lowered their price target 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. HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of AngioDynamics in a research report on Friday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $12.25.

AngioDynamics 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.