AngioDynamics (NASDAQ:ANGO) Price Target Raised to $17.00 at Canaccord Genuity Group

AngioDynamics (NASDAQ:ANGO - Get Free Report) had its target price raised by equities researchers at Canaccord Genuity Group from $15.00 to $17.00 in a report released on Wednesday, July 16th, MarketBeat reports. The firm presently has a "buy" rating on the medical instruments supplier's stock. Canaccord Genuity Group's price target would indicate a potential upside of 93.82% from the stock's previous close.

Separately, HC Wainwright restated a "buy" rating and issued a $16.00 price target (up from $15.00) on shares of AngioDynamics in a report on Monday, April 7th.

AngioDynamics Trading Down 2.1%

ANGO stock traded down $0.19 during midday trading on Wednesday, reaching $8.77. 30,859 shares of the company's stock traded hands, compared to its average volume of 654,666. AngioDynamics has a 52-week low of $5.83 and a 52-week high of $13.50. The stock has a market cap of $356.37 million, a P/E ratio of -10.58 and a beta of 0.60. The stock's 50-day moving average is $9.80 and its 200 day moving average is $9.99.

AngioDynamics (NASDAQ:ANGO - Get Free Report) last issued its earnings results on Tuesday, July 15th. The medical instruments supplier reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $0.09. AngioDynamics had a negative net margin of 11.62% and a negative return on equity of 3.20%. The firm had revenue of $80.16 million during the quarter, compared to analyst estimates of $74.26 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. AngioDynamics's revenue for the quarter was up 13.0% on a year-over-year basis. As a group, research analysts expect that AngioDynamics will post -0.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its stake in shares of AngioDynamics by 3.2% during the fourth quarter. Bank of New York Mellon Corp now owns 122,676 shares of the medical instruments supplier's stock worth $1,124,000 after purchasing an additional 3,815 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of AngioDynamics in the fourth quarter valued at about $387,000. Ameriprise Financial Inc. increased its stake in shares of AngioDynamics by 24.0% during the fourth quarter. Ameriprise Financial Inc. now owns 277,565 shares of the medical instruments supplier's stock worth $2,542,000 after acquiring an additional 53,675 shares during the period. GAMMA Investing LLC increased its stake in shares of AngioDynamics by 1,281.4% during the first quarter. GAMMA Investing LLC now owns 13,897 shares of the medical instruments supplier's stock worth $130,000 after acquiring an additional 12,891 shares during the period. Finally, New York State Common Retirement Fund grew its position in AngioDynamics by 667.0% during the first quarter. New York State Common Retirement Fund now owns 54,635 shares of the medical instruments supplier's stock worth $513,000 after buying an additional 47,512 shares during the period. 89.43% of the stock is owned by hedge funds and other 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.