AngioDynamics (NASDAQ:ANGO) Hits New 12-Month High – Here’s Why

Shares of AngioDynamics, Inc. (NASDAQ:ANGO) hit a new 52-week high on Thursday . The stock traded as high as $13.50 and last traded at $13.09, with a volume of 688075 shares changing hands. The stock had previously closed at $12.46.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ANGO shares. Canaccord Genuity Group cut their target price on shares of AngioDynamics from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, October 4th. 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 note on Friday, January 10th.

AngioDynamics Stock Up 1.8 %

The firm has a market cap of $513.20 million, a P/E ratio of -2.25 and a beta of 0.59. The business has a fifty day simple moving average of $9.61 and a 200-day simple moving average of $8.03.

AngioDynamics (NASDAQ:ANGO) last released its 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 firm had revenue of $72.90 million during the quarter, compared to analyst estimates of $70.93 million. AngioDynamics had a negative net margin of 79.38% and a negative return on equity of 7.26%. The business’s revenue was down .1% on a year-over-year basis. During the same period last year, the business earned ($0.05) earnings per share. On average, sell-side analysts anticipate that AngioDynamics, Inc. will post -0.37 EPS for the current fiscal year.

Insider Activity at AngioDynamics

In related news, SVP Warren Nighan, Jr. sold 4,060 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $12.31, for a total value of $49,978.60. Following the sale, the senior vice president now directly owns 41,817 shares in the company, valued at approximately $514,767.27. The trade was a 8.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.40% of the stock is currently owned by insiders.

Institutional Trading of AngioDynamics

Hedge funds have recently modified their holdings of the company. Systematic Financial Management LP increased its position in AngioDynamics by 14.3% in the third quarter. Systematic Financial Management LP now owns 2,410,346 shares of the medical instruments supplier’s stock worth $18,752,000 after purchasing an additional 300,785 shares during the last quarter. Millennium Management LLC grew its stake in shares of AngioDynamics by 41.9% in the 2nd quarter. Millennium Management LLC now owns 1,793,454 shares of the medical instruments supplier’s stock worth $10,850,000 after buying an additional 529,861 shares in the last quarter. Royce & Associates LP increased its holdings in shares of AngioDynamics by 10.8% in the 3rd quarter. Royce & Associates LP now owns 986,073 shares of the medical instruments supplier’s stock worth $7,672,000 after buying an additional 96,138 shares during the last quarter. Geode Capital Management LLC raised its position in shares of AngioDynamics by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 960,767 shares of the medical instruments supplier’s stock valued at $7,477,000 after buying an additional 46,409 shares in the last quarter. Finally, Segall Bryant & Hamill LLC lifted its holdings in shares of AngioDynamics by 142.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 911,443 shares of the medical instruments supplier’s stock valued at $7,091,000 after acquiring an additional 535,958 shares during the last quarter. 89.43% of the stock is owned by hedge funds and other institutional investors.

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.