Shares of AngioDynamics, Inc. (NASDAQ:ANGO) dropped 6.5% on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $22.33 and last traded at $23.09. Approximately 813,383 shares changed hands during trading, an increase of 259% from the average daily volume of 226,375 shares. The stock had previously closed at $24.69.
The medical instruments supplier reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.03). The firm had revenue of $86.34 million during the quarter, compared to the consensus estimate of $88.30 million. AngioDynamics had a return on equity of 5.85% and a net margin of 5.10%. AngioDynamics’s revenue was up 3.0% on a year-over-year basis. During the same period last year, the business earned $0.23 EPS.
ANGO has been the topic of a number of recent analyst reports. Canaccord Genuity raised their price target on shares of AngioDynamics from $20.00 to $23.00 and gave the stock a “hold” rating in a report on Monday, January 7th. Zacks Investment Research raised shares of AngioDynamics from a “hold” rating to a “strong-buy” rating and set a $24.00 price target on the stock in a report on Wednesday, January 23rd. Finally, BidaskClub lowered shares of AngioDynamics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. AngioDynamics has an average rating of “Buy” and an average target price of $23.50.
Large investors have recently bought and sold shares of the company. Financial Gravity Companies Inc. purchased a new stake in shares of AngioDynamics in the 4th quarter worth about $43,000. Quantamental Technologies LLC purchased a new stake in shares of AngioDynamics in the 4th quarter worth about $67,000. Advisor Group Inc. lifted its position in shares of AngioDynamics by 21.4% in the 4th quarter. Advisor Group Inc. now owns 3,405 shares of the medical instruments supplier’s stock worth $68,000 after purchasing an additional 601 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of AngioDynamics by 28.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,315 shares of the medical instruments supplier’s stock worth $107,000 after purchasing an additional 1,181 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new stake in shares of AngioDynamics in the 4th quarter worth about $113,000. 99.90% of the stock is owned by hedge funds and other institutional investors.
The company has a current ratio of 2.88, a quick ratio of 1.86 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $862.95 million, a P/E ratio of 31.20 and a beta of 0.75.
About AngioDynamics (NASDAQ:ANGO)
AngioDynamics, Inc designs, manufactures, and sells various medical, surgical, and diagnostic devices for the treatment of peripheral vascular disease, vascular access, and for use in oncology and surgical settings in the United States and internationally. The company provides AngioVac venous drainage system that includes venous drainage cannula for the removal of fresh, soft thrombi, or emboli during extracorporeal bypass; and cardiopulmonary bypass circuit for use in procedures during extracorporeal circulatory support.
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