AngioDynamics (NASDAQ:ANGO) Shares Gap Down – Time to Sell?

AngioDynamics, Inc. (NASDAQ:ANGO)’s share price gapped down prior to trading on Monday . The stock had previously closed at $12.30, but opened at $11.61. AngioDynamics shares last traded at $12.39, with a volume of 670,475 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ANGO shares. Canaccord Genuity Group decreased their price target on AngioDynamics from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. HC Wainwright boosted their price objective on AngioDynamics from $14.00 to $15.00 and gave the company a “buy” rating in a report on Friday, January 10th.

AngioDynamics Stock Performance

The stock has a market capitalization of $492.47 million, a PE ratio of -2.00 and a beta of 0.59. The firm’s 50 day moving average is $8.44 and its two-hundred day moving average is $7.53.

AngioDynamics (NASDAQ:ANGO) last posted its quarterly earnings data on Wednesday, January 8th. The medical instruments supplier reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.07. The business had revenue of $72.90 million for the quarter, compared to analyst estimates of $70.93 million. AngioDynamics had a negative return on equity of 5.86% and a negative net margin of 83.95%. The company’s revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) earnings per share. On average, analysts anticipate that AngioDynamics, Inc. will post -0.41 EPS for the current year.

Hedge Funds Weigh In On AngioDynamics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP increased its stake in shares of AngioDynamics by 40.9% during the third quarter. Quarry LP now owns 8,518 shares of the medical instruments supplier’s stock worth $66,000 after buying an additional 2,471 shares during the period. CWM LLC grew its holdings 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 in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of AngioDynamics in the 3rd quarter valued at approximately $86,000. Charles Schwab Investment Management Inc. raised its holdings in shares of AngioDynamics by 3.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 326,820 shares of the medical instruments supplier’s stock valued at $2,543,000 after purchasing an additional 11,599 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in shares of AngioDynamics during the 2nd quarter worth $80,000. Hedge funds and other institutional investors 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.