AngioDynamics (NASDAQ:ANGO) Stock Moved Up to "Hold" by Zacks Research

Key Points

• Zacks Research upgraded AngioDynamics from “strong sell” to “hold,” while the broader analyst consensus is “Moderate Buy” with an average price target of $19.50.
• AngioDynamics shares opened at $14.42, down 7.2%, despite the company beating quarterly expectations with an adjusted loss of $0.07 per share versus the anticipated $0.11 loss and revenue of $86.61 million versus $80.24 million expected.
• Institutional investors own 89.43% of the stock, with BlackRock and Weber Capital among those establishing or increasing positions; however, a senior vice president recently sold 23,370 shares.

AngioDynamics (NASDAQ:ANGO - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued on Monday, Zacks reports.

Several other equities research analysts also recently weighed in on the company. Canaccord Genuity Group lifted their price objective on shares of AngioDynamics from $16.00 to $20.00 and gave the company a "buy" rating in a research report on Wednesday, July 15th. Weiss Ratings reissued a "sell (d-)" rating on shares of AngioDynamics in a research note on Friday, July 17th. HC Wainwright increased their price objective on shares of AngioDynamics from $16.00 to $19.00 and gave the stock a "buy" rating in a report on Wednesday, July 15th. Finally, Wall Street Zen raised shares of AngioDynamics from a "hold" rating to a "buy" rating in a research note on Saturday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued 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 has an average rating of "Moderate Buy" and an average price target of $19.50.

AngioDynamics Trading Down 7.2%

Shares of ANGO opened at $14.42 on Monday. The firm has a market capitalization of $606.36 million, a price-to-earnings ratio of -16.57 and a beta of 0.30. The firm's fifty day simple moving average is $15.47 and its 200-day simple moving average is $13.08. AngioDynamics has a twelve month low of $9.39 and a twelve month high of $16.29.

AngioDynamics (NASDAQ:ANGO - Get Free Report) last announced its quarterly earnings results on Tuesday, July 14th. The medical instruments supplier reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.11) by $0.04. The firm had revenue of $86.61 million during the quarter, compared to the consensus estimate of $80.24 million. AngioDynamics had a negative return on equity of 5.73% and a negative net margin of 11.48%.AngioDynamics has set its FY 2027 guidance at -0.290--0.240 EPS. On average, analysts predict that AngioDynamics will post -0.25 earnings per share for the current fiscal year.

Insider Activity at AngioDynamics

In related news, SVP Warren Jr sold 23,370 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $14.72, for a total value of $344,006.40. Following the completion of the transaction, the senior vice president owned 64,745 shares of the company's stock, valued at approximately $953,046.40. This represents a 26.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 6.00% of the company's stock.

Hedge Funds Weigh In On AngioDynamics

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of AngioDynamics in the 2nd quarter valued at about $49,480,000. Armistice Capital LLC boosted its holdings in shares of AngioDynamics by 3.9% in the 4th quarter. Armistice Capital LLC now owns 1,700,000 shares of the medical instruments supplier's stock valued at $21,828,000 after buying an additional 64,000 shares during the period. Weber Capital Management LLC ADV bought a new stake in shares of AngioDynamics during the 2nd quarter valued at about $17,649,392. Bastion Asset Management Inc. grew its position in shares of AngioDynamics by 17.4% during the 1st quarter. Bastion Asset Management Inc. now owns 1,313,002 shares of the medical instruments supplier's stock valued at $14,107,000 after buying an additional 194,822 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in AngioDynamics by 3.5% during the first quarter. Dimensional Fund Advisors LP now owns 948,815 shares of the medical instruments supplier's stock worth $10,786,000 after acquiring an additional 32,476 shares during the period. 89.43% of the stock is owned by institutional investors and hedge funds.

About AngioDynamics

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.

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