Short Interest in AngioDynamics, Inc. (NASDAQ:ANGO) Declines By 18.0%

AngioDynamics, Inc. (NASDAQ:ANGO) saw a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 1,784,550 shares, a drop of 18.0% from the February 26th total of 2,176,310 shares. Based on an average trading volume of 282,420 shares, the days-to-cover ratio is currently 6.3 days. Currently, 4.6% of the company’s shares are sold short.

AngioDynamics Price Performance

Shares of NASDAQ ANGO traded up $0.06 on Wednesday, hitting $11.43. The company’s stock had a trading volume of 350,520 shares, compared to its average volume of 547,296. AngioDynamics has a 12-month low of $8.36 and a 12-month high of $13.99. The company has a market capitalization of $471.02 million, a price-to-earnings ratio of -17.04 and a beta of 0.48. The stock has a 50 day moving average of $10.83 and a 200-day moving average of $11.55.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of AngioDynamics in a report on Wednesday, January 21st. Zacks Research cut AngioDynamics from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Wall Street Zen cut AngioDynamics from a “buy” rating to a “hold” rating in a report on Sunday, December 21st. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, AngioDynamics presently has an average rating of “Hold” and an average target price of $19.33.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. increased its position in shares of AngioDynamics by 2.3% in the fourth quarter. Franklin Resources Inc. now owns 48,359 shares of the medical instruments supplier’s stock worth $621,000 after acquiring an additional 1,076 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of AngioDynamics by 146.4% during the 4th quarter. Farther Finance Advisors LLC now owns 2,018 shares of the medical instruments supplier’s stock valued at $26,000 after acquiring an additional 1,199 shares in the last quarter. State of Wyoming boosted its position in AngioDynamics by 53.6% during the 3rd quarter. State of Wyoming now owns 4,749 shares of the medical instruments supplier’s stock worth $53,000 after purchasing an additional 1,658 shares during the period. Deutsche Bank AG boosted its position in AngioDynamics by 5.9% during the 4th quarter. Deutsche Bank AG now owns 35,584 shares of the medical instruments supplier’s stock worth $457,000 after purchasing an additional 1,992 shares during the period. Finally, Kemnay Advisory Services Inc. acquired a new stake in AngioDynamics in the 4th quarter valued at $27,000. 89.43% of the stock is currently owned by institutional investors and hedge funds.

AngioDynamics Company Profile

AngioDynamics, Inc is a medical technology company headquartered in Latham, New York, that develops, manufactures and markets a broad range of minimally invasive medical devices. The company’s products focus on three core areas: vascular access, peripheral vascular intervention and interventional oncology. Its solutions are designed to improve procedural outcomes, reduce complications and enhance patient comfort in hospital and outpatient settings.

In the vascular access segment, AngioDynamics offers a portfolio of devices including implanted ports, peripherally inserted central catheters (PICCs), hemodialysis catheters and specialty blood management products.