AngioDynamics, Inc. (NASDAQ:ANGO) Given Average Recommendation of “Moderate Buy” by Brokerages

AngioDynamics, Inc. (NASDAQ:ANGO) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $18.6667.

Several brokerages have issued reports on ANGO. Freedom Capital upgraded shares of AngioDynamics to a “strong-buy” rating in a research note on Monday, April 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AngioDynamics in a report on Monday, April 20th. Zacks Research lowered AngioDynamics from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Finally, Canaccord Genuity Group dropped their target price on AngioDynamics from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, April 6th.

AngioDynamics Stock Performance

Shares of AngioDynamics stock opened at $12.08 on Friday. The business’s 50 day simple moving average is $11.09 and its 200 day simple moving average is $11.38. AngioDynamics has a 52-week low of $8.36 and a 52-week high of $13.99. The firm has a market cap of $499.15 million, a PE ratio of -16.11 and a beta of 0.38.

AngioDynamics (NASDAQ:ANGO) last posted its quarterly earnings data on Thursday, April 2nd. The medical instruments supplier reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. AngioDynamics had a negative net margin of 10.01% and a negative return on equity of 4.66%. The company had revenue of $78.42 million for the quarter, compared to the consensus estimate of $76.77 million. As a group, equities research analysts predict that AngioDynamics will post -0.19 EPS for the current year.

Hedge Funds Weigh In On AngioDynamics

A number of institutional investors have recently added to or reduced their stakes in the company. Divisadero Street Capital Management LP increased its holdings in AngioDynamics by 8.3% during the third quarter. Divisadero Street Capital Management LP now owns 3,678,125 shares of the medical instruments supplier’s stock worth $41,085,000 after buying an additional 282,695 shares during the last quarter. Millennium Management LLC increased its stake in shares of 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 during the last quarter. Kotler Kevin acquired a new position in shares of AngioDynamics during the 4th quarter worth about $21,997,000. Armistice Capital LLC increased its stake in shares of AngioDynamics by 3.9% during the 4th quarter. Armistice Capital LLC now owns 1,700,000 shares of the medical instruments supplier’s stock worth $21,828,000 after purchasing an additional 64,000 shares during the last quarter. Finally, Weber Capital Management LLC ADV acquired a new position in shares of AngioDynamics during the 4th quarter worth about $17,978,000. 89.43% of the stock is currently owned by institutional investors and hedge funds.

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.