AngioDynamics (NASDAQ:ANGO) Shares Gap Down – Should You Sell?

AngioDynamics, Inc. (NASDAQ:ANGO)’s share price gapped down before the market opened 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.

Analysts Set New Price Targets

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

AngioDynamics Trading Up 3.1 %

The company has a fifty day simple moving average of $8.44 and a 200-day simple moving average of $7.53. The company has a market capitalization of $492.47 million, a PE ratio of -2.00 and a beta of 0.59.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ANGO. Quarry LP raised its position in AngioDynamics by 75.1% in the second quarter. Quarry LP now owns 6,047 shares of the medical instruments supplier’s stock valued at $37,000 after purchasing an additional 2,594 shares during the period. CWM LLC increased its position in shares of 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 purchasing an additional 8,832 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of AngioDynamics during the 3rd quarter worth about $86,000. Mackenzie Financial Corp purchased a new stake in AngioDynamics in the 2nd quarter valued at about $80,000. Finally, SG Americas Securities LLC acquired a new position in AngioDynamics in the third quarter valued at about $103,000. 89.43% of the stock is currently owned by institutional investors and hedge funds.

About AngioDynamics

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.