AngioDynamics Inc. (ANGO) Stock Price Up 2.1% on Strong Earnings
Shares of AngioDynamics Inc. (NASDAQ:ANGO) rose 2.1% during mid-day trading on Thursday following a stronger than expected earnings report. The company traded as high as $16.81 and last traded at $16.81, with a volume of 200,432 shares changing hands. The stock had previously closed at $16.47.
The company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.04. The business had revenue of $88.10 million for the quarter. AngioDynamics had a negative net margin of 12.57% and a positive return on equity of 3.94%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.11 earnings per share.
ANGO has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of AngioDynamics from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research report on Wednesday, September 14th. KeyCorp set a $18.00 target price on shares of AngioDynamics and gave the stock a “buy” rating in a research report on Monday, September 12th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. AngioDynamics currently has a consensus rating of “Hold” and an average target price of $15.20.
In other AngioDynamics news, major shareholder Avista Capital Partners Gp, Ll sold 2,241,000 shares of the stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David F. Burgstahler sold 2,250,000 shares of the stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $14.62, for a total transaction of $32,895,000.00. Following the completion of the sale, the director now directly owns 23,988 shares of the company’s stock, valued at approximately $350,704.56. The disclosure for this sale can be found here. 1.88% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. purchased a new stake in shares of AngioDynamics during the first quarter valued at about $3,552,000. Kennedy Capital Management Inc. purchased a new stake in shares of AngioDynamics during the first quarter valued at about $589,000. Alambic Investment Management L.P. increased its stake in shares of AngioDynamics by 17.3% in the second quarter. Alambic Investment Management L.P. now owns 75,634 shares of the company’s stock valued at $1,087,000 after buying an additional 11,155 shares during the period. Bellevue Group AG purchased a new stake in shares of AngioDynamics during the first quarter valued at about $1,861,000. Finally, Arizona State Retirement System increased its stake in shares of AngioDynamics by 3.8% in the first quarter. Arizona State Retirement System now owns 13,496 shares of the company’s stock valued at $166,000 after buying an additional 500 shares during the period. 69.29% of the stock is owned by institutional investors.
The stock’s 50 day moving average is $16.81 and its 200 day moving average is $14.29. The stock’s market capitalization is $601.87 million.
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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