Zacks Investment Research lowered shares of AngioDynamics (NASDAQ:ANGO) from a buy rating to a hold rating in a research report released 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.”
Other equities analysts have also recently issued reports about the stock. TheStreet cut shares of AngioDynamics from a b- rating to a c rating in a report on Tuesday, January 2nd. Canaccord Genuity reaffirmed a hold rating and issued a $17.00 target price on shares of AngioDynamics in a report on Sunday, October 8th. KeyCorp reaffirmed a hold rating on shares of AngioDynamics in a report on Friday, September 29th. Craig Hallum cut shares of AngioDynamics from a buy rating to a hold rating in a report on Friday, January 5th. Finally, BidaskClub cut shares of AngioDynamics from a hold rating to a sell rating in a report on Saturday, January 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $18.40.
AngioDynamics (NASDAQ ANGO) traded up $0.34 during mid-day trading on Friday, reaching $16.77. 372,688 shares of the company’s stock were exchanged, compared to its average volume of 228,817. 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 12 month low of $14.80 and a 12 month high of $18.85. The firm has a market capitalization of $603.73, a PE ratio of -79.85, a P/E/G ratio of 1.58 and a beta of 1.04.
AngioDynamics (NASDAQ:ANGO) last released its quarterly earnings data on Thursday, January 4th. The medical instruments supplier reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. AngioDynamics had a negative net margin of 2.27% and a positive return on equity of 4.63%. The company had revenue of $86.70 million for the quarter, compared to analysts’ expectations of $88.15 million. During the same quarter last year, the company earned $0.19 earnings per share. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. equities analysts predict that AngioDynamics will post 0.69 EPS for the current year.
Institutional investors have recently made changes to their positions in the company. Stevens Capital Management LP grew its position in AngioDynamics by 0.8% in the 2nd quarter. Stevens Capital Management LP now owns 24,488 shares of the medical instruments supplier’s stock valued at $397,000 after buying an additional 188 shares during the last quarter. Comerica Bank grew its position in AngioDynamics by 2.5% in the 2nd quarter. Comerica Bank now owns 36,068 shares of the medical instruments supplier’s stock valued at $606,000 after buying an additional 893 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in AngioDynamics by 7.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 28,259 shares of the medical instruments supplier’s stock valued at $458,000 after buying an additional 2,050 shares during the last quarter. Thrivent Financial For Lutherans grew its position in AngioDynamics by 13.4% in the 2nd quarter. Thrivent Financial For Lutherans now owns 20,610 shares of the medical instruments supplier’s stock valued at $334,000 after buying an additional 2,430 shares during the last quarter. Finally, New York State Common Retirement Fund grew its position in AngioDynamics by 6.1% in the 2nd quarter. New York State Common Retirement Fund now owns 43,720 shares of the medical instruments supplier’s stock valued at $709,000 after buying an additional 2,519 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.
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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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