AngioDynamics, Inc. (NASDAQ:ANGO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.

According to Zacks, “AngioDynamics reported a mixed fourth quarter of fiscal 2017, wherein adjusted earnings beat the Zacks Consensus Estimate while revenues missed the same. The year-over-year decline at the company’s Peripheral Vascular, Vascular Access and Oncology & Surgery business segments marred revenues. Furthermore, the company expects earnings to fall sequentially in FY18. Lackluster performance by the oncology segment was primarily due to market withdrawal of the company’s flagship Acculis Microwave Tissue Ablation System, which also marred international sales. AngioDynamics has a high outstanding debt level at the end of the fourth quarter. This is likely to impose certain operating and financial restrictions, limiting the company’s core business strategies. Over the last one year, AngioDynamics has underperformed the broader industry in terms of price. However, growth in the core Angiographic Catheter business holds promise.”

Several other equities research analysts have also commented on the company. Barclays PLC reduced their price objective on AngioDynamics from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Wednesday. Canaccord Genuity restated a “hold” rating and issued a $17.50 price objective on shares of AngioDynamics in a research note on Thursday, March 30th. Cantor Fitzgerald upped their price objective on AngioDynamics from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 4th. Finally, Craig Hallum set a $20.00 price objective on AngioDynamics and gave the stock a “buy” rating in a research note on Saturday, April 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. AngioDynamics currently has a consensus rating of “Hold” and a consensus target price of $18.50.

AngioDynamics (ANGO) traded up 2.49% during mid-day trading on Thursday, reaching $15.64. The company’s stock had a trading volume of 141,487 shares. The firm’s market cap is $575.24 million. AngioDynamics has a 12-month low of $14.80 and a 12-month high of $18.18. The company has a 50-day moving average price of $15.86 and a 200-day moving average price of $16.23.

AngioDynamics (NASDAQ:ANGO) last announced its earnings results on Tuesday, July 18th. The medical instruments supplier reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.03. The business had revenue of $86.90 million during the quarter, compared to analyst estimates of $90.72 million. AngioDynamics had a net margin of 2.00% and a return on equity of 5.19%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.19 EPS. On average, equities research analysts expect that AngioDynamics will post $0.68 earnings per share for the current year.

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Several large investors have recently bought and sold shares of ANGO. Peregrine Capital Management LLC acquired a new stake in shares of AngioDynamics during the second quarter worth about $12,133,000. First Quadrant L P CA raised its stake in shares of AngioDynamics by 5.9% in the second quarter. First Quadrant L P CA now owns 112,463 shares of the medical instruments supplier’s stock worth $1,823,000 after buying an additional 6,312 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of AngioDynamics by 6.9% in the second quarter. Louisiana State Employees Retirement System now owns 13,900 shares of the medical instruments supplier’s stock worth $225,000 after buying an additional 900 shares during the last quarter. Fenimore Asset Management Inc. raised its stake in shares of AngioDynamics by 9.1% in the second quarter. Fenimore Asset Management Inc. now owns 579,225 shares of the medical instruments supplier’s stock worth $9,389,000 after buying an additional 48,150 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of AngioDynamics by 91.7% in the second quarter. State of Alaska Department of Revenue now owns 6,768 shares of the medical instruments supplier’s stock worth $109,000 after buying an additional 3,238 shares during the last quarter. Hedge funds and other institutional investors own 84.64% of the company’s stock.

About AngioDynamics

AngioDynamics, Inc designs, manufactures and sells a range of medical, surgical and diagnostic devices used by professional healthcare providers for vascular access, for the treatment of peripheral vascular disease and for use in oncology and surgical settings. The Company’s devices are used in minimally invasive, image-guided procedures.

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