AngioDynamics, Inc. (NASDAQ:ANGO) Short Interest Up 18.7% in April

Key Points

• Short interest rose 18.7% in April to 2,161,213 shares (about 5.6% of shares sold short), implying a 3.3 days-to-cover based on average daily volume.
• Wall Street sentiment is mixed but averages a Moderate Buy with an average price target of $18.67 (one Strong Buy, three Buys, one Hold, one Sell).
• AngioDynamics beat the latest quarter's estimates—EPS of ($0.07) vs. ($0.11) expected and revenue $78.4M vs. $76.8M—but remains unprofitable with a negative net margin and expected full-year EPS of -$0.19.

AngioDynamics, Inc. (NASDAQ:ANGO - Get Free Report) was the target of a significant growth in short interest in April. As of April 15th, there was short interest totaling 2,161,213 shares, a growth of 18.7% from the March 31st total of 1,821,431 shares. Based on an average daily trading volume, of 661,671 shares, the days-to-cover ratio is currently 3.3 days. Currently, 5.6% of the company's shares are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ANGO. State of Alaska Department of Revenue acquired a new position in shares of AngioDynamics during the 3rd quarter worth about $25,000. Farther Finance Advisors LLC boosted its position in shares of AngioDynamics by 146.4% during the 4th quarter. Farther Finance Advisors LLC now owns 2,018 shares of the medical instruments supplier's stock worth $26,000 after acquiring an additional 1,199 shares in the last quarter. Washington Trust Advisors Inc. acquired a new position in shares of AngioDynamics during the 3rd quarter worth about $27,000. Kemnay Advisory Services Inc. acquired a new position in shares of AngioDynamics during the 4th quarter worth about $27,000. Finally, State of Wyoming acquired a new position in shares of AngioDynamics during the 2nd quarter worth about $31,000. 89.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ANGO. Canaccord Genuity Group dropped their price objective on AngioDynamics from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Monday, April 6th. Freedom Capital raised AngioDynamics to a "strong-buy" rating in a research note on Monday, April 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of AngioDynamics in a research note on Monday, April 20th. Finally, Zacks Research cut AngioDynamics from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $18.67.

AngioDynamics Price Performance

ANGO opened at $10.66 on Thursday. AngioDynamics has a 12 month low of $8.36 and a 12 month high of $13.99. The stock has a market capitalization of $440.47 million, a price-to-earnings ratio of -14.21 and a beta of 0.43. The business has a fifty day moving average price of $10.81 and a 200 day moving average price of $11.49.

AngioDynamics (NASDAQ:ANGO - Get Free Report) last released its earnings results on Thursday, April 2nd. The medical instruments supplier reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.04. AngioDynamics had a negative return on equity of 4.66% and a negative net margin of 10.01%.The firm had revenue of $78.42 million during the quarter, compared to analysts' expectations of $76.77 million. On average, research analysts anticipate that AngioDynamics will post -0.19 earnings per share for the current year.

About AngioDynamics

AngioDynamics, Inc is a medical technology company headquartered in Latham, New York, that develops, manufactures and markets a broad range of minimally invasive medical devices. The company's products focus on three core areas: vascular access, peripheral vascular intervention and interventional oncology. Its solutions are designed to improve procedural outcomes, reduce complications and enhance patient comfort in hospital and outpatient settings.

In the vascular access segment, AngioDynamics offers a portfolio of devices including implanted ports, peripherally inserted central catheters (PICCs), hemodialysis catheters and specialty blood management products.

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