BlackRock Inc. Takes Position in AngioDynamics, Inc. $ANGO

Key Points

• BlackRock acquired 3.8 million AngioDynamics shares worth approximately $49.5 million, giving it a 9.2% stake. Institutional investors and hedge funds collectively own 89.43% of the company.
• Analyst sentiment is mixed: the average rating is “Hold” with a $19.50 price target, while some firms raised targets and issued “Buy” ratings and others downgraded the stock to “Sell” or “Strong Sell.”
• AngioDynamics exceeded quarterly expectations, reporting a loss of $0.07 per share versus the projected $0.11 loss and revenue of $86.61 million versus estimates of $80.24 million. The stock opened at $16.13, near its 52-week high of $16.29.

BlackRock Inc. purchased a new position in shares of AngioDynamics, Inc. (NASDAQ:ANGO - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,803,232 shares of the medical instruments supplier's stock, valued at approximately $49,480,000. BlackRock Inc. owned about 9.20% of AngioDynamics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the company. Bastion Asset Management Inc. raised its holdings in shares of AngioDynamics by 17.4% during the first quarter. Bastion Asset Management Inc. now owns 1,313,002 shares of the medical instruments supplier's stock worth $14,107,000 after purchasing an additional 194,822 shares during the period. Bank of America Corp DE boosted its holdings in shares of AngioDynamics by 262.7% in the 1st quarter. Bank of America Corp DE now owns 503,640 shares of the medical instruments supplier's stock valued at $5,726,000 after buying an additional 364,763 shares during the period. Armistice Capital LLC grew its position in shares of AngioDynamics by 3.9% during the 4th quarter. Armistice Capital LLC now owns 1,700,000 shares of the medical instruments supplier's stock valued at $21,828,000 after buying an additional 64,000 shares during the last quarter. Royce & Associates LP raised its stake in AngioDynamics by 27.3% during the fourth quarter. Royce & Associates LP now owns 1,267,451 shares of the medical instruments supplier's stock worth $16,274,000 after acquiring an additional 272,091 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in AngioDynamics in the second quarter worth about $829,000. 89.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at AngioDynamics

In other AngioDynamics news, SVP Warren Nighan, Jr. sold 23,370 shares of the business's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $14.72, for a total transaction of $344,006.40. Following the sale, the senior vice president directly owned 64,745 shares in the company, valued at approximately $953,046.40. The trade was a 26.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.00% of the company's stock.

Wall Street Analyst Weigh In

ANGO has been the subject of a number of research reports. Canaccord Genuity Group upped their target price on AngioDynamics from $16.00 to $20.00 and gave the company a "buy" rating in a report on Wednesday, July 15th. Weiss Ratings reissued a "sell (d-)" rating on shares of AngioDynamics in a report on Friday, July 17th. Wall Street Zen upgraded AngioDynamics from a "hold" rating to a "buy" rating in a research report on Saturday, August 22nd. HC Wainwright upped their price objective on AngioDynamics from $16.00 to $19.00 and gave the stock a "buy" rating in a research note on Wednesday, July 15th. Finally, Zacks Research lowered AngioDynamics from a "hold" rating to a "strong sell" rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given 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 Price Performance

Shares of AngioDynamics stock opened at $16.13 on Tuesday. 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 price is $14.41 and its two-hundred day moving average price is $12.29. The company has a market capitalization of $666.65 million, a P/E ratio of -18.54 and a beta of 0.33.

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

AngioDynamics 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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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