AngioDynamics (NASDAQ:ANGO) Trading 6.2% Higher – Time to Buy?

Shares of AngioDynamics, Inc. (NASDAQ:ANGO) rose 6.2% on Thursday . The company traded as high as $12.91 and last traded at $12.93. Approximately 416,305 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 1,234,555 shares. The stock had previously closed at $12.17.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. HC Wainwright increased their target price on shares of AngioDynamics from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Canaccord Genuity Group cut their price objective on AngioDynamics from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, October 4th.

AngioDynamics Trading Up 4.9 %

The firm has a 50 day moving average price of $8.54 and a 200-day moving average price of $7.57. The firm has a market cap of $516.80 million, a PE ratio of -2.27 and a beta of 0.59.

AngioDynamics (NASDAQ:ANGO) last issued its quarterly earnings results on Wednesday, January 8th. The medical instruments supplier reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.07. AngioDynamics had a negative net margin of 79.38% and a negative return on equity of 7.26%. The company had revenue of $72.90 million during the quarter, compared to the consensus estimate of $70.93 million. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. The firm’s quarterly revenue was down .1% on a year-over-year basis. Equities analysts forecast that AngioDynamics, Inc. will post -0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AngioDynamics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ANGO. Systematic Financial Management LP lifted its position in shares of AngioDynamics by 14.3% during the 3rd quarter. Systematic Financial Management LP now owns 2,410,346 shares of the medical instruments supplier’s stock worth $18,752,000 after buying an additional 300,785 shares during the last quarter. Millennium Management LLC raised its stake 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 acquiring an additional 529,861 shares in the last quarter. Royce & Associates LP lifted its position in AngioDynamics by 10.8% in the third quarter. Royce & Associates LP now owns 986,073 shares of the medical instruments supplier’s stock valued at $7,672,000 after acquiring an additional 96,138 shares during the last quarter. Geode Capital Management LLC boosted its stake in 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 acquiring an additional 46,409 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its holdings in shares of AngioDynamics by 142.7% during the third quarter. Segall Bryant & Hamill LLC now owns 911,443 shares of the medical instruments supplier’s stock worth $7,091,000 after purchasing an additional 535,958 shares during the last quarter. 89.43% of the stock is owned by institutional investors and hedge funds.

About AngioDynamics

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.