AngioDynamics (NASDAQ:ANGO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm presently has a $18.00 price objective on the medical instruments supplier’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 9.76% from the stock’s current price.

According to Zacks, “AngioDynamics ended the second quarter of fiscal 2018 on a dismal note, missing the Zacks Consensus Estimates on both the counts. However, the company rides on the market’s positive response to Solero platform, especially within the Microwave Ablation space. AngioDynamics has been offering a broad spectrum of products which has helped widen its commercial opportunities. The company is also a leading player in the thrombolytic catheters space. The company boasts highly unique catheters like Uni-Fuse, SpeedLyser and Pulse Spray under the thrombus portfolio. On the flipside, the company’s Peripheral Vascular business segment witnessed a downside scenario. The company also had a high outstanding debt level at the end of the second quarter. AngioDynamics recalled the Acculis Microwave Tissue Ablation System under the Oncology and Surgery segment recently. Furthermore, AngioDynamics traded below the broader industry in the past year.”

Other equities research analysts also recently issued reports about the stock. TheStreet downgraded shares of AngioDynamics from a “b-” rating to a “c” rating in a report on Tuesday, January 2nd. Canaccord Genuity reissued a “hold” rating and issued a $17.00 price target on shares of AngioDynamics in a report on Sunday, October 8th. KeyCorp reissued a “hold” rating on shares of AngioDynamics in a report on Friday, September 29th. Craig Hallum downgraded shares of AngioDynamics from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Finally, BidaskClub downgraded shares of AngioDynamics from a “hold” rating to a “sell” rating in a research note on Saturday. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. AngioDynamics currently has a consensus rating of “Hold” and an average target price of $18.40.

Shares of AngioDynamics (NASDAQ ANGO) traded down $0.25 during trading on Monday, hitting $16.40. 230,100 shares of the stock were exchanged, compared to its average volume of 416,867. AngioDynamics has a 52-week low of $14.80 and a 52-week high of $18.85. The stock has a market capitalization of $611.32, a P/E ratio of -60.74, a price-to-earnings-growth ratio of 1.57 and a beta of 1.04. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.65 and a current ratio of 2.56.

AngioDynamics (NASDAQ:ANGO) last announced its quarterly earnings results on Thursday, January 4th. The medical instruments supplier reported $0.16 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.16. AngioDynamics had a negative net margin of 2.27% and a positive return on equity of 4.63%. The firm had revenue of $86.70 million for the quarter, compared to the consensus estimate of $88.15 million. During the same period in the prior year, the firm posted $0.19 earnings per share. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. equities research analysts expect that AngioDynamics will post 0.68 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in AngioDynamics in the third quarter valued at approximately $143,000. Acrospire Investment Management LLC raised its stake in AngioDynamics by 3.7% in the second quarter. Acrospire Investment Management LLC now owns 8,915 shares of the medical instruments supplier’s stock valued at $145,000 after purchasing an additional 317 shares in the last quarter. Trexquant Investment LP bought a new position in AngioDynamics during the third quarter valued at approximately $175,000. Teachers Retirement System of The State of Kentucky grew its position in AngioDynamics by 54.9% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 11,000 shares of the medical instruments supplier’s stock valued at $178,000 after acquiring an additional 3,900 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its position in AngioDynamics by 49.3% during the second quarter. BNP Paribas Arbitrage SA now owns 14,135 shares of the medical instruments supplier’s stock valued at $229,000 after acquiring an additional 4,668 shares during the last quarter. 95.23% of the stock is currently owned by institutional investors and hedge funds.

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AngioDynamics Company Profile

AngioDynamics, Inc designs, manufactures and sells a range of medical, surgical and diagnostic devices used by professional healthcare providers for vascular access, for the treatment of peripheral vascular disease and for use in oncology and surgical settings. The Company’s devices are used in minimally invasive, image-guided procedures.

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