AngioDynamics, Inc. (NASDAQ:ANGO) Given Average Rating of “Moderate Buy” by Analysts

Shares of AngioDynamics, Inc. (NASDAQ:ANGO) have been assigned a consensus rating of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $18.6667.

A number of analysts have issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of AngioDynamics in a research note on Monday, April 20th. Canaccord Genuity Group decreased their price target on AngioDynamics from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Zacks Research downgraded AngioDynamics from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Finally, Freedom Capital upgraded AngioDynamics to a “strong-buy” rating in a report on Monday, April 6th.

AngioDynamics Stock Performance

Shares of NASDAQ:ANGO opened at $11.92 on Monday. The stock’s 50-day moving average price is $10.83 and its two-hundred day moving average price is $11.41. AngioDynamics has a 12-month low of $8.36 and a 12-month high of $13.99. The firm has a market cap of $492.52 million, a price-to-earnings ratio of -15.89 and a beta of 0.37.

AngioDynamics (NASDAQ:ANGO) last issued its quarterly earnings results on Thursday, April 2nd. The medical instruments supplier reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. AngioDynamics had a negative return on equity of 4.66% and a negative net margin of 10.01%.The firm had revenue of $78.42 million for the quarter, compared to analyst estimates of $76.77 million. As a group, research analysts forecast that AngioDynamics will post -0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AngioDynamics

Large investors have recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in shares of AngioDynamics by 2.3% during the 4th quarter. Franklin Resources Inc. now owns 48,359 shares of the medical instruments supplier’s stock valued at $621,000 after buying an additional 1,076 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of AngioDynamics by 146.4% during the 4th quarter. Farther Finance Advisors LLC now owns 2,018 shares of the medical instruments supplier’s stock valued at $26,000 after buying an additional 1,199 shares during the period. State of Wyoming raised its holdings in shares of AngioDynamics by 53.6% during the 3rd quarter. State of Wyoming now owns 4,749 shares of the medical instruments supplier’s stock valued at $53,000 after buying an additional 1,658 shares during the period. Deutsche Bank AG raised its holdings in shares of AngioDynamics by 5.9% during the 4th quarter. Deutsche Bank AG now owns 35,584 shares of the medical instruments supplier’s stock valued at $457,000 after buying an additional 1,992 shares during the period. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of AngioDynamics during the 4th quarter valued at about $27,000. 89.43% of the stock is currently owned by hedge funds and other institutional investors.

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.