Canaccord Genuity Group Lowers AngioDynamics (NASDAQ:ANGO) Price Target to $16.00

AngioDynamics (NASDAQ:ANGO) had its price objective dropped by equities researchers at Canaccord Genuity Group from $18.00 to $16.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the medical instruments supplier’s stock. Canaccord Genuity Group’s price objective indicates a potential upside of 64.95% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of AngioDynamics from a “buy” rating to a “hold” rating in a research report on Sunday, December 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of AngioDynamics in a research report on Wednesday, January 21st. Finally, Zacks Research cut shares of AngioDynamics from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $18.67.

AngioDynamics Stock Down 1.4%

Shares of ANGO stock opened at $9.70 on Monday. AngioDynamics has a 52 week low of $8.36 and a 52 week high of $13.99. The stock has a market capitalization of $399.83 million, a PE ratio of -12.93 and a beta of 0.43. The firm has a 50 day moving average of $10.83 and a two-hundred day moving average of $11.54.

AngioDynamics (NASDAQ:ANGO) last issued its quarterly earnings results on Thursday, April 2nd. The medical instruments supplier reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.04. AngioDynamics had a negative net margin of 10.01% and a negative return on equity of 4.66%. The company had revenue of $78.42 million during the quarter, compared to analysts’ expectations of $76.77 million. Analysts expect that AngioDynamics will post -0.37 EPS for the current fiscal year.

Institutional Investors Weigh In On AngioDynamics

Several institutional investors have recently modified their holdings of ANGO. State of Alaska Department of Revenue purchased a new stake in shares of AngioDynamics during the 3rd quarter worth $25,000. Farther Finance Advisors LLC lifted its position in shares of AngioDynamics by 146.4% during the 4th quarter. Farther Finance Advisors LLC now owns 2,018 shares of the medical instruments supplier’s stock worth $26,000 after purchasing an additional 1,199 shares during the last quarter. Washington Trust Advisors Inc. purchased a new stake in shares of AngioDynamics during the 3rd quarter worth $27,000. Kemnay Advisory Services Inc. purchased a new stake in shares of AngioDynamics during the 4th quarter worth $27,000. Finally, State of Wyoming purchased a new stake in shares of AngioDynamics during the 2nd quarter worth $31,000. 89.43% of the stock is owned by hedge funds and other institutional investors.

About AngioDynamics

AngioDynamics, Inc is a medical technology company headquartered in Latham, New York, that develops, manufactures and markets a broad range of minimally invasive medical devices. The company’s products focus on three core areas: vascular access, peripheral vascular intervention and interventional oncology. Its solutions are designed to improve procedural outcomes, reduce complications and enhance patient comfort in hospital and outpatient settings.

In the vascular access segment, AngioDynamics offers a portfolio of devices including implanted ports, peripherally inserted central catheters (PICCs), hemodialysis catheters and specialty blood management products.