AngioDynamics (NASDAQ:ANGO) Raised to Buy at Wall Street Zen

Key Points

• AngioDynamics (NASDAQ: ANGO) has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating a more favorable view on the stock's potential performance.
• The company reported a revenue of $80.16 million for the last quarter, surpassing analysts' expectations of $74.26 million, and is projected to post an EPS of -0.37 for the current year.
• Institutional investors have significantly increased their stakes in AngioDynamics, with Divisadero Street Capital Management increasing its share by 253.7% in the second quarter, reflecting growing confidence in the company's prospects.

AngioDynamics (NASDAQ:ANGO - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.

ANGO has been the subject of a number of other reports. Lake Street Capital began coverage on shares of AngioDynamics in a research report on Wednesday, July 16th. They issued a "buy" rating and a $24.00 target price for the company. Canaccord Genuity Group raised their price objective on shares of AngioDynamics from $15.00 to $17.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Finally, HC Wainwright restated a "buy" rating and set a $16.00 price objective on shares of AngioDynamics in a research report on Wednesday, July 16th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, AngioDynamics presently has an average rating of "Buy" and a consensus price target of $19.00.

AngioDynamics Stock Performance

Shares of NASDAQ ANGO traded up $0.30 during mid-day trading on Friday, reaching $9.13. The company's stock had a trading volume of 425,091 shares, compared to its average volume of 427,031. The stock has a 50-day moving average of $9.31 and a two-hundred day moving average of $9.62. The stock has a market capitalization of $370.95 million, a P/E ratio of -11.00 and a beta of 0.67. AngioDynamics has a 1-year low of $5.83 and a 1-year high of $13.50.

AngioDynamics (NASDAQ:ANGO - Get Free Report) last issued its earnings results on Tuesday, July 15th. The medical instruments supplier reported ($0.03) EPS for the quarter, beating analysts' consensus estimates of ($0.12) by $0.09. The business had revenue of $80.16 million during the quarter, compared to analysts' expectations 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 period in the prior year, the business earned ($0.06) earnings per share. AngioDynamics has set its FY 2026 guidance at -0.350--0.250 EPS. Analysts predict that AngioDynamics will post -0.37 EPS for the current fiscal year.

Institutional Investors Weigh In On AngioDynamics

A number of institutional investors have recently made changes to their positions in the stock. Divisadero Street Capital Management LP increased its position in shares of AngioDynamics by 253.7% during the second quarter. Divisadero Street Capital Management LP now owns 3,395,430 shares of the medical instruments supplier's stock valued at $33,683,000 after acquiring an additional 2,435,365 shares during the last quarter. Systematic Financial Management LP increased its position in shares of AngioDynamics by 4.6% during the fourth quarter. Systematic Financial Management LP now owns 2,521,065 shares of the medical instruments supplier's stock valued at $23,093,000 after acquiring an additional 110,719 shares during the last quarter. Vanguard Group Inc. increased its position in shares of AngioDynamics by 8.7% during the first quarter. Vanguard Group Inc. now owns 2,492,563 shares of the medical instruments supplier's stock valued at $23,405,000 after acquiring an additional 199,944 shares during the last quarter. Armistice Capital LLC increased its position in shares of AngioDynamics by 140.1% during the first quarter. Armistice Capital LLC now owns 2,094,000 shares of the medical instruments supplier's stock valued at $19,663,000 after acquiring an additional 1,222,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of AngioDynamics by 10.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,488,667 shares of the medical instruments supplier's stock valued at $13,636,000 after acquiring an additional 135,007 shares during the last quarter. 89.43% of the stock is currently owned by institutional investors and hedge funds.

About AngioDynamics

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.