AngioDynamics Inc. (ANGO) Releases Earnings Results, Beats Expectations By $0.04 EPS
AngioDynamics Inc. (NASDAQ:ANGO) posted its earnings results on Wednesday. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The company earned $88.10 million during the quarter, compared to analysts’ expectations of $26.74 million. AngioDynamics had a negative net margin of 12.57% and a positive return on equity of 3.94%.
AngioDynamics (NASDAQ:ANGO) opened at 17.30 on Wednesday. AngioDynamics has a 12-month low of $9.71 and a 12-month high of $17.64. The firm has a 50-day moving average of $16.76 and a 200 day moving average of $14.25. The company’s market capitalization is $630.10 million.
A number of analysts have recently issued reports on ANGO shares. Zacks Investment Research upgraded shares of AngioDynamics from a “sell” rating to a “hold” rating in a research note on Wednesday, June 8th. KeyCorp set a $18.00 price objective on shares of AngioDynamics and gave the stock a “buy” rating in a research note on Monday, September 12th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. AngioDynamics presently has an average rating of “Hold” and an average target price of $15.20.
In other AngioDynamics news, Director David F. Burgstahler sold 2,250,000 shares of the firm’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $14.62, for a total transaction of $32,895,000.00. Following the completion of the transaction, the director now owns 23,988 shares of the company’s stock, valued at $350,704.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Avista Capital Partners Gp, Ll sold 2,241,000 shares of the firm’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $14.62, for a total value of $32,763,420.00. The disclosure for this sale can be found here. Company insiders own 1.88% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. BlackRock Investment Management LLC raised its position in shares of AngioDynamics by 13.4% in the second quarter. BlackRock Investment Management LLC now owns 124,572 shares of the company’s stock valued at $1,790,000 after buying an additional 14,686 shares in the last quarter. BlackRock Fund Advisors raised its position in AngioDynamics by 6.3% in the second quarter. BlackRock Fund Advisors now owns 1,796,317 shares of the company’s stock valued at $25,813,000 after buying an additional 106,151 shares in the last quarter. BlackRock Group LTD raised its position in AngioDynamics by 31.1% in the second quarter. BlackRock Group LTD now owns 38,393 shares of the company’s stock valued at $552,000 after buying an additional 9,107 shares in the last quarter. Alliancebernstein L.P. raised its position in AngioDynamics by 6.9% in the second quarter. Alliancebernstein L.P. now owns 31,090 shares of the company’s stock valued at $447,000 after buying an additional 2,000 shares in the last quarter. Finally, American International Group Inc. raised its position in AngioDynamics by 3.9% in the second quarter. American International Group Inc. now owns 19,991 shares of the company’s stock valued at $287,000 after buying an additional 754 shares in the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.
AngioDynamics Company Profile
AngioDynamics, Inc designs, manufactures and sells a range of medical, surgical and diagnostic devices used by professional healthcare providers for vascular access, for the treatment of peripheral vascular disease, and for use in oncology and surgical settings. The Company’s devices are used in minimally invasive, image-guided procedures.
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