HC Wainwright Reaffirms Buy Rating for AngioDynamics (NASDAQ:ANGO)

HC Wainwright restated their buy rating on shares of AngioDynamics (NASDAQ:ANGO) in a research note issued to investors on Tuesday morning,Benzinga reports. HC Wainwright currently has a $14.00 target price on the medical instruments supplier’s stock.

Separately, Canaccord Genuity Group reduced their price objective on AngioDynamics from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, October 4th.

AngioDynamics Price Performance

Shares of ANGO opened at $9.18 on Tuesday. The firm has a market capitalization of $373.02 million, a price-to-earnings ratio of -1.51 and a beta of 0.68. AngioDynamics has a 1-year low of $5.26 and a 1-year high of $9.42. The company has a 50-day moving average of $6.97 and a 200 day moving average of $6.93.

AngioDynamics (NASDAQ:ANGO) last released its quarterly earnings results on Thursday, October 3rd. The medical instruments supplier reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.04. The company had revenue of $67.50 million during the quarter, compared to analysts’ expectations of $67.93 million. AngioDynamics had a negative return on equity of 5.86% and a negative net margin of 83.95%. The firm’s revenue was down 14.2% compared to the same quarter last year. During the same period last year, the business posted ($0.12) earnings per share. On average, equities analysts anticipate that AngioDynamics will post -0.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO James C. Clemmer bought 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were acquired at an average cost of $6.03 per share, for a total transaction of $120,600.00. Following the acquisition, the chief executive officer now owns 681,582 shares in the company, valued at $4,109,939.46. This represents a 3.02 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders purchased 22,568 shares of company stock valued at $135,847. 5.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP increased its stake in AngioDynamics by 75.1% in the 2nd quarter. Quarry LP now owns 6,047 shares of the medical instruments supplier’s stock worth $37,000 after purchasing an additional 2,594 shares in the last quarter. CWM LLC boosted its position in AngioDynamics by 981.3% during the third quarter. CWM LLC now owns 9,732 shares of the medical instruments supplier’s stock worth $76,000 after purchasing an additional 8,832 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of AngioDynamics during the third quarter worth approximately $86,000. SG Americas Securities LLC acquired a new position in AngioDynamics during the 3rd quarter valued at $103,000. Finally, Mackenzie Financial Corp bought a new stake in shares of AngioDynamics in the second quarter valued at about $80,000. 89.43% of the stock is owned by institutional investors and hedge funds.

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.