AngioDynamics (NASDAQ:ANGO) Shares Gap Up Following Strong Earnings

Key Points

• AngioDynamics shares surged after reporting better-than-expected quarterly earnings, with stock opening at $12.73 up from a previous close of $11.07.
• The company reported earnings per share of ($0.10), exceeding analysts' expectations of ($0.12), alongside a revenue of $75.71 million, surpassing predictions of $72.69 million.
• Analysts have given AngioDynamics a consensus target price of $19.00, with multiple firms rating the stock as a "buy."

AngioDynamics, Inc. (NASDAQ:ANGO - Get Free Report) shares gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $11.07, but opened at $12.73. AngioDynamics shares last traded at $12.23, with a volume of 1,790,836 shares changing hands.

The medical instruments supplier reported ($0.10) earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $0.02. The business had revenue of $75.71 million during the quarter, compared to analysts' expectations of $72.69 million. AngioDynamics had a negative net margin of 11.62% and a negative return on equity of 3.20%. The company's revenue was up 12.1% on a year-over-year basis. During the same period last year, the company posted ($0.11) EPS. AngioDynamics has set its FY 2026 guidance at -0.330--0.230 EPS.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Canaccord Genuity Group lifted their target price on shares of AngioDynamics from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Wall Street Zen raised shares of AngioDynamics from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Lake Street Capital initiated coverage on AngioDynamics in a report on Wednesday, July 16th. They set a "buy" rating and a $24.00 target price on the stock. Finally, HC Wainwright reiterated a "buy" rating and issued a $16.00 price objective on shares of AngioDynamics in a report on Wednesday, July 16th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, AngioDynamics currently has an average rating of "Buy" and a consensus target price of $19.00.

Institutional Investors Weigh In On AngioDynamics

Several large investors have recently made changes to their positions in ANGO. Divisadero Street Capital Management LP raised its stake 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 purchasing an additional 2,435,365 shares in the last quarter. Systematic Financial Management LP boosted its stake in shares of AngioDynamics by 0.5% during the 2nd quarter. Systematic Financial Management LP now owns 2,509,906 shares of the medical instruments supplier's stock worth $24,898,000 after acquiring an additional 12,617 shares in the last quarter. Vanguard Group Inc. increased its stake in AngioDynamics by 8.7% in the 1st quarter. Vanguard Group Inc. now owns 2,492,563 shares of the medical instruments supplier's stock worth $23,405,000 after purchasing an additional 199,944 shares in the last quarter. Armistice Capital LLC increased its position in shares of AngioDynamics by 140.1% in the first quarter. Armistice Capital LLC now owns 2,094,000 shares of the medical instruments supplier's stock worth $19,663,000 after acquiring an additional 1,222,000 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in AngioDynamics during the 1st quarter valued at $10,803,000. Institutional investors and hedge funds own 89.43% of the company's stock.

AngioDynamics Stock Up 10.1%

The firm has a 50-day moving average of $9.84 and a two-hundred day moving average of $9.73. The stock has a market capitalization of $500.89 million, a price-to-earnings ratio of -14.68 and a beta of 0.78.

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.

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