Lake Street Capital Initiates Coverage on AngioDynamics (NASDAQ:ANGO)

Stock analysts at Lake Street Capital started coverage on shares of AngioDynamics (NASDAQ:ANGO - Get Free Report) in a research note issued on Wednesday, Marketbeat.com reports. The brokerage set a "buy" rating and a $24.00 price target on the medical instruments supplier's stock. Lake Street Capital's price objective indicates a potential upside of 176.18% from the company's previous close.

Several other research firms have also issued reports on ANGO. HC Wainwright reissued a "buy" rating and issued a $16.00 price objective on shares of AngioDynamics in a research report on Wednesday. Canaccord Genuity Group set a $17.00 price objective on shares of AngioDynamics and gave the stock a "buy" rating in a research report on Wednesday.

AngioDynamics Price Performance

Shares of NASDAQ ANGO traded down $0.05 on Wednesday, hitting $8.69. The company's stock had a trading volume of 719,749 shares, compared to its average volume of 589,754. AngioDynamics has a 12-month low of $5.83 and a 12-month high of $13.50. The company has a market capitalization of $352.90 million, a price-to-earnings ratio of -10.47 and a beta of 0.60. The stock has a 50 day moving average of $9.86 and a 200-day moving average of $10.06.

AngioDynamics (NASDAQ:ANGO - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The medical instruments supplier reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.09. The business had revenue of $80.16 million for the quarter, compared to the consensus estimate of $74.26 million. AngioDynamics had a negative net margin of 11.62% and a negative return on equity of 3.20%. The company's quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. Sell-side analysts expect that AngioDynamics will post -0.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ANGO. Bank of New York Mellon Corp lifted its position in AngioDynamics by 3.2% in the 4th quarter. Bank of New York Mellon Corp now owns 122,676 shares of the medical instruments supplier's stock valued at $1,124,000 after purchasing an additional 3,815 shares during the last quarter. Squarepoint Ops LLC bought a new stake in AngioDynamics in the 4th quarter valued at about $387,000. Ameriprise Financial Inc. lifted its position in AngioDynamics by 24.0% in the 4th quarter. Ameriprise Financial Inc. now owns 277,565 shares of the medical instruments supplier's stock valued at $2,542,000 after purchasing an additional 53,675 shares during the last quarter. GAMMA Investing LLC lifted its position in AngioDynamics by 1,281.4% in the 1st quarter. GAMMA Investing LLC now owns 13,897 shares of the medical instruments supplier's stock valued at $130,000 after purchasing an additional 12,891 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in AngioDynamics by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 329,090 shares of the medical instruments supplier's stock valued at $3,014,000 after purchasing an additional 2,270 shares during the last quarter. 89.43% of the stock is currently owned by institutional investors.

AngioDynamics Company Profile

AngioDynamics, Inc, a medical technology company, engages in the design, manufacture, and sale of medical, surgical, and diagnostic devices for the use in treating peripheral vascular disease, and oncology and surgical settings in the United States and internationally. The company offers Auryon Atherectomy system that is designed to deliver an optimized wavelength, pulse width, and amplitude to remove lesions while preserving vessel wall endothelium.