HC Wainwright Forecasts Strong Price Appreciation for AngioDynamics (NASDAQ:ANGO) Stock

AngioDynamics (NASDAQ:ANGO) had its price target boosted by HC Wainwright from $14.00 to $15.00 in a research report report published on Friday,Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

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

AngioDynamics Stock Performance

Shares of ANGO opened at $12.30 on Friday. AngioDynamics has a fifty-two week low of $5.26 and a fifty-two week high of $13.13. The firm has a market cap of $499.80 million, a price-to-earnings ratio of -2.02 and a beta of 0.59. The firm has a 50 day moving average price of $8.23 and a 200-day moving average price of $7.42.

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

Institutional Investors Weigh In On AngioDynamics

Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets raised its holdings in shares of AngioDynamics by 110.4% during the third quarter. BNP Paribas Financial Markets now owns 159,391 shares of the medical instruments supplier’s stock valued at $1,240,000 after acquiring an additional 83,622 shares in the last quarter. State Street Corp raised its holdings in AngioDynamics by 2.7% in the 3rd quarter. State Street Corp now owns 810,372 shares of the medical instruments supplier’s stock worth $6,305,000 after purchasing an additional 21,218 shares in the last quarter. First Eagle Investment Management LLC bought a new position in AngioDynamics in the 2nd quarter worth $1,321,000. Systematic Financial Management LP lifted its position in shares of AngioDynamics by 8.4% in the 2nd quarter. Systematic Financial Management LP now owns 2,109,561 shares of the medical instruments supplier’s stock worth $12,763,000 after purchasing an additional 162,972 shares during the period. Finally, CWM LLC boosted its stake 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 valued at $76,000 after purchasing an additional 8,832 shares in the last quarter. Hedge funds and other institutional investors own 89.43% of the company’s stock.

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.