Canaccord Genuity Group Reiterates "$17.00" Price Target for AngioDynamics (NASDAQ:ANGO)

Canaccord Genuity Group set a $17.00 price objective on AngioDynamics (NASDAQ:ANGO - Free Report) in a report published on Wednesday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the medical instruments supplier's stock.

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

AngioDynamics Stock Performance

Shares of ANGO stock traded down $0.21 on Wednesday, hitting $8.53. 178,308 shares of the company's stock traded hands, compared to its average volume of 589,384. AngioDynamics has a one year low of $5.83 and a one year high of $13.50. The company's fifty day simple moving average is $9.88 and its 200 day simple moving average is $10.07. The stock has a market capitalization of $346.40 million, a price-to-earnings ratio of -10.27 and a beta of 0.60.

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

Institutional Investors Weigh In On AngioDynamics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quinn Opportunity Partners LLC purchased a new position in AngioDynamics during the 4th quarter valued at about $92,000. ProShare Advisors LLC bought a new stake in AngioDynamics during the 4th quarter valued at about $100,000. Graham Capital Management L.P. bought a new stake in AngioDynamics during the 4th quarter valued at about $106,000. OneDigital Investment Advisors LLC increased its stake in AngioDynamics by 14.0% during the 4th quarter. OneDigital Investment Advisors LLC now owns 12,137 shares of the medical instruments supplier's stock valued at $111,000 after purchasing an additional 1,490 shares in the last quarter. Finally, Cerity Partners LLC increased its stake in AngioDynamics by 22.0% during the 1st quarter. Cerity Partners LLC now owns 12,929 shares of the medical instruments supplier's stock valued at $121,000 after purchasing an additional 2,333 shares in the last quarter. 89.43% of the stock is owned by hedge funds and other institutional investors.

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.