Zacks Investment Research Upgrades AngioDynamics, Inc. (NASDAQ:ANGO) to “Hold”
AngioDynamics, Inc. (NASDAQ:ANGO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Monday.
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 research analysts have also recently issued reports on the company. Barclays PLC cut their target price on AngioDynamics from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 19th. Canaccord Genuity reiterated a “hold” rating and set a $16.50 price target on shares of AngioDynamics in a report on Wednesday, May 31st. Cantor Fitzgerald lifted their price target on AngioDynamics from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, July 4th. Finally, BidaskClub lowered AngioDynamics from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $18.50.
AngioDynamics (NASDAQ ANGO) traded up 2.14% during trading on Monday, hitting $16.71. The stock had a trading volume of 89,143 shares. The company has a market cap of $611.25 million, a price-to-earnings ratio of 121.97 and a beta of 1.15. AngioDynamics has a 52 week low of $14.80 and a 52 week high of $18.18. The company has a 50-day moving average of $16.21 and a 200 day moving average of $16.17.
AngioDynamics (NASDAQ:ANGO) last issued its earnings results on Tuesday, July 18th. The medical instruments supplier reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.03. The business had revenue of $86.90 million during the quarter, compared to the consensus estimate of $90.72 million. AngioDynamics had a return on equity of 5.19% and a net margin of 2.00%. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 earnings per share. On average, equities research analysts anticipate that AngioDynamics will post $0.67 EPS for the current year.
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In other news, CEO James C. Clemmer bought 5,000 shares of the firm’s stock in a transaction dated Friday, July 21st. The stock was purchased at an average price of $15.79 per share, with a total value of $78,950.00. Following the transaction, the chief executive officer now owns 86,683 shares of the company’s stock, valued at $1,368,724.57. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO James C. Clemmer bought 20,000 shares of the firm’s stock in a transaction dated Thursday, July 20th. The stock was purchased at an average cost of $15.64 per share, with a total value of $312,800.00. Following the transaction, the chief executive officer now directly owns 86,683 shares in the company, valued at approximately $1,355,722.12. The disclosure for this purchase can be found here. Insiders have acquired a total of 25,316 shares of company stock valued at $396,806 in the last ninety days. 1.88% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue increased its stake in 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 valued at $109,000 after buying an additional 3,238 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in shares of AngioDynamics by 77.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 7,100 shares of the medical instruments supplier’s stock valued at $123,000 after buying an additional 3,100 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of AngioDynamics by 3.0% in the first quarter. Municipal Employees Retirement System of Michigan now owns 7,200 shares of the medical instruments supplier’s stock valued at $125,000 after buying an additional 210 shares in the last quarter. Mason Street Advisors LLC increased its stake in shares of AngioDynamics by 8.5% in the first quarter. Mason Street Advisors LLC now owns 7,470 shares of the medical instruments supplier’s stock valued at $130,000 after buying an additional 584 shares in the last quarter. Finally, Acrospire Investment Management LLC increased its stake in shares of AngioDynamics by 3.7% in the second quarter. Acrospire Investment Management LLC now owns 8,915 shares of the medical instruments supplier’s stock valued at $145,000 after buying an additional 317 shares in the last quarter. 89.19% of the stock is owned by hedge funds and other institutional investors.
AngioDynamics Company Profile
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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