AngioDynamics (NASDAQ:ANGO) Raised to “Strong-Buy” at Freedom Capital

AngioDynamics (NASDAQ:ANGO) was upgraded by investment analysts at Freedom Capital to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Zacks Research lowered shares of AngioDynamics from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Wall Street Zen lowered shares of AngioDynamics from a “buy” rating to a “hold” rating in a research note on Sunday, December 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of AngioDynamics in a research note on Wednesday, January 21st. Finally, Canaccord Genuity Group lowered their price objective on shares of AngioDynamics from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, AngioDynamics presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.67.

AngioDynamics Trading Down 1.4%

ANGO opened at $9.70 on Monday. The business’s 50 day moving average is $10.83 and its 200-day moving average is $11.54. The stock has a market cap of $399.83 million, a PE ratio of -12.93 and a beta of 0.43. AngioDynamics has a twelve month low of $8.36 and a twelve month high of $13.99.

AngioDynamics (NASDAQ:ANGO) last released its quarterly earnings results on Thursday, April 2nd. The medical instruments supplier reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. The company had revenue of $78.42 million for the quarter, compared to analysts’ expectations of $76.77 million. AngioDynamics had a negative return on equity of 4.66% and a negative net margin of 10.01%. As a group, analysts forecast that AngioDynamics will post -0.37 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ANGO. Kotler Kevin acquired a new position in AngioDynamics in the fourth quarter worth approximately $21,997,000. Weber Capital Management LLC ADV purchased a new position in AngioDynamics during the 4th quarter worth approximately $17,978,000. UBS Group AG grew its position in AngioDynamics by 83.6% during the 3rd quarter. UBS Group AG now owns 1,102,488 shares of the medical instruments supplier’s stock worth $12,315,000 after purchasing an additional 501,881 shares in the last quarter. Millennium Management LLC grew its position in AngioDynamics by 28.1% during the 3rd quarter. Millennium Management LLC now owns 1,793,152 shares of the medical instruments supplier’s stock worth $20,030,000 after purchasing an additional 393,682 shares in the last quarter. Finally, Nuveen LLC grew its position in AngioDynamics by 40.5% during the 4th quarter. Nuveen LLC now owns 1,295,072 shares of the medical instruments supplier’s stock worth $16,629,000 after purchasing an additional 373,110 shares in the last quarter. Institutional investors and hedge funds own 89.43% of the company’s stock.

About AngioDynamics

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.