AngioDynamics (NASDAQ:ANGO) Sets New 52-Week High – What’s Next?

AngioDynamics, Inc. (NASDAQ:ANGO)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $13.50 and last traded at $13.09, with a volume of 688075 shares. The stock had previously closed at $12.46.

Wall Street Analyst Weigh In

Several equities analysts have commented on ANGO shares. HC Wainwright raised their target price on shares of AngioDynamics from $14.00 to $15.00 and gave the company a “buy” rating in a report on Friday, January 10th. Canaccord Genuity Group lowered their price objective on shares of AngioDynamics from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, October 4th.

AngioDynamics Price Performance

The business’s fifty day moving average price is $9.81 and its 200 day moving average price is $8.10. The stock has a market cap of $461.76 million, a P/E ratio of -2.03 and a beta of 0.59.

AngioDynamics (NASDAQ:ANGO) last issued its quarterly earnings data on Wednesday, January 8th. The medical instruments supplier reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.07. The business had revenue of $72.90 million during the quarter, compared to the consensus estimate of $70.93 million. AngioDynamics had a negative net margin of 79.38% and a negative return on equity of 7.26%. The firm’s revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.05) EPS. On average, analysts predict that AngioDynamics, Inc. will post -0.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Warren Nighan, Jr. sold 4,060 shares of AngioDynamics stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $12.31, for a total transaction of $49,978.60. Following the sale, the senior vice president now directly owns 41,817 shares in the company, valued at $514,767.27. This trade represents a 8.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AngioDynamics

Large investors have recently modified their holdings of the business. Systematic Financial Management LP grew its stake in shares of AngioDynamics by 14.3% in the third quarter. Systematic Financial Management LP now owns 2,410,346 shares of the medical instruments supplier’s stock worth $18,752,000 after purchasing an additional 300,785 shares during the last quarter. Millennium Management LLC lifted its holdings in AngioDynamics by 41.9% during the 2nd 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 during the period. Royce & Associates LP grew its position in shares of 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 last quarter. Geode Capital Management LLC increased its stake in shares of AngioDynamics by 5.1% in the third quarter. Geode Capital Management LLC now owns 960,767 shares of the medical instruments supplier’s stock valued at $7,477,000 after buying an additional 46,409 shares during the period. Finally, Segall Bryant & Hamill LLC lifted its stake in shares of AngioDynamics by 142.7% in the third quarter. Segall Bryant & Hamill LLC now owns 911,443 shares of the medical instruments supplier’s stock worth $7,091,000 after acquiring an additional 535,958 shares during the period. Institutional investors own 89.43% of the company’s stock.

AngioDynamics Company 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.