AngioDynamics (ANGO) Cut to Hold at Zacks Investment Research

AngioDynamics (NASDAQ:ANGO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.

According to Zacks, “Despite trading below the broader industry in the last year, market’s solid response to Solero platform, especially within the Microwave Ablation space, is likely to boost AngioDynamics. The company has been offering a broad spectrum of products which has helped widen its commercial opportunities. AngioDynamics is also a leading player in the thrombolytic catheters space. The company boasts highly unique catheters like Uni-Fuse, SpeedLyser and Pulse Spray under the thrombus portfolio. On the flipside, the company’s Peripheral Vascular business segment witnessed a downside scenario. The company also had a high outstanding debt level at the end of the second quarter. AngioDynamics’ higher debts impose certain operating and financial restrictions which limit the company’s execution of the company’s core business strategies. The company also recalled the Acculis Microwave Tissue Ablation System recently.”

Several other research analysts have also issued reports on the company. BidaskClub lowered AngioDynamics from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Craig Hallum lowered AngioDynamics from a “buy” rating to a “hold” rating in a report on Friday, January 5th. TheStreet lowered AngioDynamics from a “b-” rating to a “c” rating in a report on Tuesday, January 2nd. Canaccord Genuity reiterated a “hold” rating and issued a $17.00 price target on shares of AngioDynamics in a report on Sunday, October 8th. Finally, KeyCorp reiterated a “hold” rating on shares of AngioDynamics in a report on Friday, September 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $18.40.

Shares of AngioDynamics (NASDAQ:ANGO) traded up $0.34 during trading hours on Friday, reaching $16.77. The company’s stock had a trading volume of 372,688 shares, compared to its average volume of 323,331. The company has a market capitalization of $601.89, a price-to-earnings ratio of -79.85, a P/E/G ratio of 1.58 and a beta of 1.04. The company has a current ratio of 2.56, a quick ratio of 1.65 and a debt-to-equity ratio of 0.17. AngioDynamics has a 1-year low of $14.80 and a 1-year high of $18.85.

AngioDynamics (NASDAQ:ANGO) last announced its quarterly earnings results on Thursday, January 4th. The medical instruments supplier reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. The business had revenue of $86.70 million for the quarter, compared to analyst estimates of $88.15 million. AngioDynamics had a positive return on equity of 4.63% and a negative net margin of 2.27%. The company’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 earnings per share. equities research analysts expect that AngioDynamics will post 0.69 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of AngioDynamics in the third quarter valued at approximately $143,000. Trexquant Investment LP bought a new position in shares of AngioDynamics in the third quarter valued at approximately $175,000. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of AngioDynamics by 54.9% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 11,000 shares of the medical instruments supplier’s stock valued at $178,000 after purchasing an additional 3,900 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of AngioDynamics by 49.3% in the second quarter. BNP Paribas Arbitrage SA now owns 14,135 shares of the medical instruments supplier’s stock valued at $229,000 after purchasing an additional 4,668 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its holdings in shares of AngioDynamics by 74.7% in the second quarter. GSA Capital Partners LLP now owns 18,706 shares of the medical instruments supplier’s stock valued at $303,000 after purchasing an additional 7,999 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

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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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