AngioDynamics (NASDAQ:ANGO) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

AngioDynamics, Inc. (NASDAQ:ANGO)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.41 and traded as high as $10.78. AngioDynamics shares last traded at $10.33, with a volume of 356,560 shares traded.

Wall Street Analyst Weigh In

Separately, HC Wainwright upped their price objective 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.

AngioDynamics Trading Down 2.5 %

The company has a market cap of $418.01 million, a price-to-earnings ratio of -1.83 and a beta of 0.60. The company has a fifty day moving average price of $10.72 and a two-hundred day moving average price of $8.44.

AngioDynamics (NASDAQ:ANGO) last posted its quarterly earnings results 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. AngioDynamics had a negative net margin of 79.38% and a negative return on equity of 7.26%. The firm had revenue of $72.90 million for the quarter, compared to the consensus estimate of $70.93 million. During the same quarter in the previous year, the company earned ($0.05) earnings per share. The business’s revenue was down .1% compared to the same quarter last year. Sell-side analysts anticipate that AngioDynamics, Inc. will post -0.37 EPS for the current fiscal year.

Insider Activity at AngioDynamics

In other AngioDynamics news, SVP Warren Nighan, Jr. sold 4,060 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $12.31, for a total transaction of $49,978.60. Following the completion of the transaction, the senior vice president now owns 41,817 shares in the company, valued at $514,767.27. This trade represents a 8.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AngioDynamics

Hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. acquired a new stake in AngioDynamics in the 4th quarter valued at $28,000. R Squared Ltd bought a new position in shares of AngioDynamics during the fourth quarter valued at $49,000. US Bancorp DE boosted its stake in shares of AngioDynamics by 1,938.0% in the 4th quarter. US Bancorp DE now owns 6,705 shares of the medical instruments supplier’s stock valued at $61,000 after purchasing an additional 6,376 shares in the last quarter. Quarry LP boosted its stake in shares of AngioDynamics by 40.9% in the 3rd quarter. Quarry LP now owns 8,518 shares of the medical instruments supplier’s stock valued at $66,000 after purchasing an additional 2,471 shares in the last quarter. Finally, CWM LLC grew its holdings in shares of AngioDynamics by 981.3% in 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. 89.43% of the stock is 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.