Canaccord Genuity Group Has Lowered Expectations for AngioDynamics (NASDAQ:ANGO) Stock Price

Key Points

• Canaccord Genuity cut its target for AngioDynamics from $18 to $16 but maintained a "buy" rating, a level that the firm says represents about a 62% upside from the recent close.
• Analyst views are mixed—three Buys, one Hold and one Sell—with a MarketBeat consensus rating of "Hold" and a consensus target price of $18.67.
• Shares trade at $9.86 (12‑month range $8.36–$13.99) with a market cap near $406M; the company beat last quarter's EPS and revenue estimates but remains unprofitable and analysts forecast -$0.37 EPS for the year.

AngioDynamics (NASDAQ:ANGO - Get Free Report) had its target price reduced by analysts at Canaccord Genuity Group from $18.00 to $16.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "buy" rating on the medical instruments supplier's stock. Canaccord Genuity Group's target price points to a potential upside of 62.35% from the stock's previous close.

Other analysts also recently issued reports about the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of AngioDynamics in a report on Wednesday, January 21st. Zacks Research downgraded AngioDynamics from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. Finally, Wall Street Zen lowered AngioDynamics from a "buy" rating to a "hold" rating in a research note on Sunday, December 21st. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $18.67.

AngioDynamics Stock Performance

AngioDynamics stock traded down $0.46 during trading on Monday, reaching $9.86. The company had a trading volume of 359,420 shares, compared to its average volume of 561,771. AngioDynamics has a 12-month low of $8.36 and a 12-month high of $13.99. The stock's 50 day moving average price is $10.85 and its two-hundred day moving average price is $11.55. The firm has a market capitalization of $406.22 million, a price-to-earnings ratio of -13.14 and a beta of 0.43.

AngioDynamics (NASDAQ:ANGO - Get Free Report) last posted its quarterly earnings results on Thursday, April 2nd. The medical instruments supplier reported ($0.07) earnings per share for the quarter, topping analysts' consensus estimates of ($0.11) by $0.04. AngioDynamics had a negative net margin of 10.01% and a negative return on equity of 4.66%. The company had revenue of $78.42 million for the quarter, compared to the consensus estimate of $76.77 million. As a group, research analysts expect that AngioDynamics will post -0.37 earnings per share for the current year.

Hedge Funds Weigh In On AngioDynamics

Several large investors have recently modified their holdings of ANGO. Farther Finance Advisors LLC increased its holdings in AngioDynamics by 146.4% in the fourth quarter. Farther Finance Advisors LLC now owns 2,018 shares of the medical instruments supplier's stock valued at $26,000 after buying an additional 1,199 shares during the last quarter. Kemnay Advisory Services Inc. bought a new position in AngioDynamics during the 4th quarter worth approximately $27,000. State of Alaska Department of Revenue acquired a new position in shares of AngioDynamics in the 3rd quarter worth approximately $25,000. Washington Trust Advisors Inc. bought a new stake in shares of AngioDynamics in the 3rd quarter valued at approximately $27,000. Finally, State of Wyoming bought a new stake in shares of AngioDynamics in the 2nd quarter valued at approximately $31,000. Institutional investors own 89.43% of the company's stock.

AngioDynamics Company Profile

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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