AngioDynamics (NASDAQ:ANGO) Stock Rating Lowered by Zacks Research

AngioDynamics (NASDAQ:ANGO) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the company. Wall Street Zen cut AngioDynamics from a “buy” rating to a “hold” rating in a research note on Sunday, December 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of AngioDynamics in a research report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.33.

AngioDynamics Price Performance

Shares of ANGO stock opened at $11.37 on Monday. The business has a fifty day moving average of $10.83 and a 200 day moving average of $11.55. AngioDynamics has a 1 year low of $8.36 and a 1 year high of $13.99. The firm has a market capitalization of $468.67 million, a price-to-earnings ratio of -16.97 and a beta of 0.48.

Hedge Funds Weigh In On AngioDynamics

A number of institutional investors have recently modified their holdings of ANGO. Hsbc Holdings PLC boosted its stake in shares of AngioDynamics by 128.4% in the fourth quarter. Hsbc Holdings PLC now owns 62,367 shares of the medical instruments supplier’s stock worth $801,000 after buying an additional 35,062 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in AngioDynamics by 38.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 14,604 shares of the medical instruments supplier’s stock valued at $188,000 after acquiring an additional 4,030 shares in the last quarter. XTX Topco Ltd lifted its holdings in AngioDynamics by 69.6% in the fourth quarter. XTX Topco Ltd now owns 40,811 shares of the medical instruments supplier’s stock valued at $524,000 after acquiring an additional 16,742 shares during the period. Quadrature Capital Ltd acquired a new position in AngioDynamics in the fourth quarter valued at approximately $463,000. Finally, Manatuck Hill Partners LLC boosted its position in AngioDynamics by 6.3% in the 4th quarter. Manatuck Hill Partners LLC now owns 425,000 shares of the medical instruments supplier’s stock worth $5,457,000 after purchasing an additional 25,000 shares in the last quarter. Hedge funds and other institutional investors own 89.43% of the company’s stock.

About AngioDynamics

AngioDynamics, Inc is a medical technology company headquartered in Latham, New York, that develops, manufactures and markets a broad range of minimally invasive medical devices. The company’s products focus on three core areas: vascular access, peripheral vascular intervention and interventional oncology. Its solutions are designed to improve procedural outcomes, reduce complications and enhance patient comfort in hospital and outpatient settings.

In the vascular access segment, AngioDynamics offers a portfolio of devices including implanted ports, peripherally inserted central catheters (PICCs), hemodialysis catheters and specialty blood management products.