HC Wainwright Issues Pessimistic Forecast for AngioDynamics (NASDAQ:ANGO) Stock Price

AngioDynamics (NASDAQ:ANGO) had its target price lowered by research analysts at HC Wainwright from $19.00 to $18.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. HC Wainwright’s target price would suggest a potential upside of 69.16% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of AngioDynamics in a research report on Friday, July 17th. Wall Street Zen cut shares of AngioDynamics from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Research raised shares of AngioDynamics from a “strong sell” rating to a “hold” rating in a research note on Monday, October 5th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $20.00 target price on shares of AngioDynamics in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

AngioDynamics Stock Performance

Shares of NASDAQ ANGO traded down $0.76 during mid-day trading on Tuesday, reaching $10.64. The company had a trading volume of 529,714 shares, compared to its average volume of 509,442. The company has a market capitalization of $447.50 million, a price-to-earnings ratio of -13.65 and a beta of 0.30. The stock has a fifty day moving average of $15.25 and a two-hundred day moving average of $13.13. AngioDynamics has a 12-month low of $9.39 and a 12-month high of $16.29.

AngioDynamics (NASDAQ:ANGO) last announced its quarterly earnings data on Thursday, October 8th. The medical instruments supplier reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.07. AngioDynamics had a negative net margin of 10.12% and a negative return on equity of 4.49%. The firm had revenue of $80.92 million for the quarter, compared to the consensus estimate of $80.51 million. AngioDynamics has set its FY 2027 guidance at -0.290–0.240 EPS. Sell-side analysts forecast that AngioDynamics will post -0.25 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Warren Jr sold 23,370 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $14.72, for a total transaction of $344,006.40. Following the transaction, the senior vice president owned 64,745 shares of the company’s stock, valued at approximately $953,046.40. This trade represents a 26.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ANGO. Integrated Wealth Concepts LLC bought a new position in shares of AngioDynamics during the 2nd quarter valued at $38,000. Corient Private Wealth LP acquired a new stake in shares of AngioDynamics in the 2nd quarter valued at $134,000. Public Employees Retirement System of Ohio acquired a new stake in shares of AngioDynamics in the 2nd quarter valued at $64,000. Bank of America Corp DE bought a new stake in AngioDynamics in the second quarter worth $4,490,000. Finally, Gallagher Fiduciary Advisors LLC bought a new stake in AngioDynamics in the second quarter worth $589,000. Institutional investors and hedge funds own 89.43% of the company’s stock.

AngioDynamics Company Profile

AngioDynamics, Inc is a medical device company that develops, manufactures and markets minimally invasive products for use in vascular disease, vascular access and oncology. Its technologies are designed to help physicians treat blood clots, restore blood flow, manage vascular access and ablate targeted tissue.

The company’s portfolio includes the Auryon platform for atherectomy, which uses laser technology to treat peripheral arterial disease; the AngioVac and AlphaVac systems for removing thrombus and other unwanted material from blood vessels; and BioSentry products used to seal biopsy tracts.