HC Wainwright Reaffirms “Buy” Rating for AngioDynamics (NASDAQ:ANGO)

AngioDynamics (NASDAQ:ANGO)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They presently have a $14.00 price objective on the medical instruments supplier’s stock. HC Wainwright’s price target suggests a potential upside of 53.68% from the stock’s previous close.

Separately, Canaccord Genuity Group dropped their price target on AngioDynamics from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, October 4th.

AngioDynamics Trading Up 2.5 %

Shares of ANGO stock opened at $9.11 on Tuesday. The firm has a 50-day moving average price of $6.91 and a 200 day moving average price of $6.91. The company has a market capitalization of $370.18 million, a price-to-earnings ratio of -1.50 and a beta of 0.68. AngioDynamics has a twelve month low of $5.26 and a twelve month high of $9.42.

AngioDynamics (NASDAQ:ANGO) last posted its quarterly earnings data on Thursday, October 3rd. The medical instruments supplier reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.04. The company had revenue of $67.50 million during the quarter, compared to the consensus estimate of $67.93 million. AngioDynamics had a negative net margin of 83.95% and a negative return on equity of 5.86%. The company’s quarterly revenue was down 14.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.12) EPS. As a group, research analysts predict that AngioDynamics will post -0.41 earnings per share for the current year.

Insider Buying and Selling

In other AngioDynamics news, CEO James C. Clemmer acquired 20,000 shares of the company’s stock in a transaction on Monday, October 7th. The shares were bought at an average cost of $6.03 per share, for a total transaction of $120,600.00. Following the acquisition, the chief executive officer now directly owns 681,582 shares of the company’s stock, valued at $4,109,939.46. This trade represents a 3.02 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have purchased 22,568 shares of company stock valued at $135,847. Corporate insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On AngioDynamics

Institutional investors have recently modified their holdings of the stock. Quarry LP raised its position in shares of AngioDynamics by 75.1% during the 2nd quarter. Quarry LP now owns 6,047 shares of the medical instruments supplier’s stock worth $37,000 after purchasing an additional 2,594 shares during the period. CWM LLC boosted its position in AngioDynamics by 981.3% during the 3rd quarter. CWM LLC now owns 9,732 shares of the medical instruments supplier’s stock worth $76,000 after acquiring an additional 8,832 shares during the period. Mackenzie Financial Corp acquired a new position in AngioDynamics during the 2nd quarter valued at about $80,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of AngioDynamics during the third quarter valued at approximately $86,000. Finally, AE Wealth Management LLC acquired a new position in shares of AngioDynamics during the 2nd quarter valued at $87,000. Institutional investors and hedge funds own 89.43% of the company’s stock.

AngioDynamics Company Profile

AngioDynamics, Inc, a medical technology company, engages in the design, manufacture, and sale of medical, surgical, and diagnostic devices for the use in treating peripheral vascular disease, and oncology and surgical settings in the United States and internationally. The company offers Auryon Atherectomy system that is designed to deliver an optimized wavelength, pulse width, and amplitude to remove lesions while preserving vessel wall endothelium.