AngioDynamics, Inc. (NASDAQ:ANGO) Shares Sold by Factorial Partners LLC

Key Points

• Factorial Partners LLC reduced its stake in AngioDynamics by 31%, bringing its ownership to 78,000 shares valued at $732,000 as of the latest SEC filing.
• Several institutional investors, including MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. and Price T Rowe Associates Inc., have increased their stakes in AngioDynamics, indicating a continued interest in the company.
• AngioDynamics reported an earnings beat with a net revenue of $80.16 million for the last quarter, surpassing estimates and showing a growth of 13% year-over-year.

Factorial Partners LLC cut its stake in AngioDynamics, Inc. (NASDAQ:ANGO - Free Report) by 31.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 78,000 shares of the medical instruments supplier's stock after selling 35,000 shares during the quarter. Factorial Partners LLC owned approximately 0.19% of AngioDynamics worth $732,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Phocas Financial Corp. acquired a new position in shares of AngioDynamics during the 1st quarter worth approximately $3,177,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of AngioDynamics during the first quarter worth approximately $139,000. GSA Capital Partners LLP purchased a new stake in shares of AngioDynamics during the first quarter worth approximately $642,000. Essex Investment Management Co. LLC purchased a new stake in shares of AngioDynamics during the first quarter worth approximately $1,683,000. Finally, Mackenzie Financial Corp increased its position in shares of AngioDynamics by 20.5% during the first quarter. Mackenzie Financial Corp now owns 77,445 shares of the medical instruments supplier's stock worth $727,000 after purchasing an additional 13,152 shares in the last quarter. 89.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ANGO has been the subject of several analyst reports. Canaccord Genuity Group upped their target price on AngioDynamics from $15.00 to $17.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. HC Wainwright restated a "buy" rating and issued a $16.00 target price on shares of AngioDynamics in a report on Wednesday, July 16th. Finally, Lake Street Capital initiated coverage on AngioDynamics in a report on Wednesday, July 16th. They issued a "buy" rating and a $24.00 target price for the company.

AngioDynamics Stock Performance

Shares of AngioDynamics stock traded up $0.13 during trading hours on Thursday, hitting $8.53. The company's stock had a trading volume of 341,014 shares, compared to its average volume of 825,831. AngioDynamics, Inc. has a twelve month low of $5.83 and a twelve month high of $13.50. The firm has a fifty day moving average of $9.67 and a 200-day moving average of $9.83. The stock has a market cap of $346.57 million, a price-to-earnings ratio of -10.28 and a beta of 0.67.

AngioDynamics (NASDAQ:ANGO - Get Free Report) last announced its quarterly 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. AngioDynamics had a negative return on equity of 3.20% and a negative net margin of 11.62%. The business had revenue of $80.16 million for the quarter, compared to analyst estimates of $74.26 million. During the same quarter in the prior year, the company posted ($0.06) EPS. The company's quarterly revenue was up 13.0% on a year-over-year basis. On average, sell-side analysts expect that AngioDynamics, Inc. will post -0.37 earnings per share for the current fiscal year.

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.