Bank of New York Mellon Corp Makes New $1.62 Million Investment in AngioDynamics, Inc. $ANGO

Key Points

• Bank of New York Mellon purchased 124,450 AngioDynamics shares worth approximately $1.62 million, acquiring a 0.30% stake. Institutional investors collectively own 89.43% of the company.
• Analyst opinions remain mixed: Canaccord Genuity and HC Wainwright issued Buy ratings, while Zacks Research and Weiss Ratings maintained bearish views. The stock has an overall “Hold” rating and a consensus price target of $19.50.
• AngioDynamics exceeded quarterly expectations, reporting an adjusted loss of $0.07 per share versus the expected $0.11 loss and revenue of $86.61 million versus the $80.24 million estimate. The company remains unprofitable, with a negative net margin of 11.48%.

Bank of New York Mellon Corp purchased a new stake in shares of AngioDynamics, Inc. (NASDAQ:ANGO - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 124,450 shares of the medical instruments supplier's stock, valued at approximately $1,619,000. Bank of New York Mellon Corp owned 0.30% of AngioDynamics as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Goldman Sachs Group Inc. grew its holdings in AngioDynamics by 9.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 259,226 shares of the medical instruments supplier's stock worth $2,434,000 after buying an additional 22,658 shares in the last quarter. Jane Street Group LLC raised its stake in AngioDynamics by 267.1% during the 1st quarter. Jane Street Group LLC now owns 46,803 shares of the medical instruments supplier's stock valued at $439,000 after acquiring an additional 34,054 shares in the last quarter. Legal & General Group Plc raised its stake in AngioDynamics by 279.5% during the 2nd quarter. Legal & General Group Plc now owns 12,353 shares of the medical instruments supplier's stock valued at $123,000 after acquiring an additional 9,098 shares in the last quarter. Rhumbline Advisers boosted its position in AngioDynamics by 4.3% during the 2nd quarter. Rhumbline Advisers now owns 61,337 shares of the medical instruments supplier's stock worth $608,000 after acquiring an additional 2,510 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of AngioDynamics by 15.8% during the second quarter. American Century Companies Inc. now owns 96,808 shares of the medical instruments supplier's stock valued at $960,000 after purchasing an additional 13,217 shares during the period. Institutional investors own 89.43% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ANGO shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of AngioDynamics in a research report on Friday, July 17th. Zacks Research cut shares of AngioDynamics from a "hold" rating to a "strong sell" rating in a report on Thursday, July 16th. Canaccord Genuity Group raised their price objective on shares of AngioDynamics from $16.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, July 15th. HC Wainwright boosted their target price on AngioDynamics from $16.00 to $19.00 and gave the stock a "buy" rating in a report on Wednesday, July 15th. Finally, Wall Street Zen raised AngioDynamics from a "hold" rating to a "buy" rating in a report on Saturday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $19.50.

AngioDynamics Stock Performance

NASDAQ ANGO opened at $15.22 on Wednesday. The stock has a market capitalization of $629.04 million, a P/E ratio of -17.49 and a beta of 0.33. AngioDynamics, Inc. has a 1 year low of $9.39 and a 1 year high of $16.29. The business's fifty day moving average is $14.69 and its two-hundred day moving average is $12.47.

AngioDynamics (NASDAQ:ANGO - Get Free Report) last released its quarterly earnings data on Tuesday, July 14th. The medical instruments supplier reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.04. The business had revenue of $86.61 million during the quarter, compared to analyst estimates of $80.24 million. AngioDynamics had a negative return on equity of 5.73% and a negative net margin of 11.48%.AngioDynamics has set its FY 2027 guidance at -0.290--0.240 EPS. On average, research analysts forecast that AngioDynamics, Inc. will post -0.25 earnings per share for the current year.

Insider Activity at AngioDynamics

In related news, SVP Warren Jr sold 23,370 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $14.72, for a total value of $344,006.40. Following the completion of the transaction, the senior vice president owned 64,745 shares in the company, valued at $953,046.40. This trade represents a 26.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.00% of the stock is currently owned by corporate insiders.

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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