Connor Clark & Lunn Investment Management Ltd. Has $4.57 Million Holdings in AngioDynamics, Inc. (NASDAQ:ANGO)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in AngioDynamics, Inc. by 25.1%, owning approximately 1.20% of the company, valued at around $4.57 million.
• AngioDynamics reported earnings of ($0.03) per share, exceeding analysts' expectations, with a revenue of $80.16 million for the quarter, up 13% year-over-year.
• Several analysts upgraded their ratings on AngioDynamics, with price targets ranging from $15.00 to $24.00, indicating optimism about the company's growth potential.

Connor Clark & Lunn Investment Management Ltd. raised its position in AngioDynamics, Inc. (NASDAQ:ANGO - Free Report) by 25.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 486,778 shares of the medical instruments supplier's stock after buying an additional 97,725 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 1.20% of AngioDynamics worth $4,571,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Deutsche Bank AG boosted its holdings in AngioDynamics by 419.1% in the 1st quarter. Deutsche Bank AG now owns 201,897 shares of the medical instruments supplier's stock worth $1,896,000 after buying an additional 163,002 shares during the last quarter. Vanguard Group Inc. boosted its holdings in AngioDynamics by 8.7% in the 1st quarter. Vanguard Group Inc. now owns 2,492,563 shares of the medical instruments supplier's stock worth $23,405,000 after buying an additional 199,944 shares during the last quarter. Phocas Financial Corp. acquired a new stake in AngioDynamics in the 1st quarter worth about $3,177,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in AngioDynamics in the 1st quarter worth about $139,000. Finally, GSA Capital Partners LLP acquired a new stake in AngioDynamics in the 1st quarter worth about $642,000. 89.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Lake Street Capital assumed coverage on AngioDynamics in a report on Wednesday, July 16th. They issued a "buy" rating and a $24.00 price objective on the stock. Wall Street Zen upgraded AngioDynamics from a "hold" rating to a "buy" rating in a report on Saturday. Canaccord Genuity Group boosted their target price on AngioDynamics from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Finally, HC Wainwright restated a "buy" rating and set a $16.00 target price on shares of AngioDynamics in a report on Wednesday, July 16th.

AngioDynamics Stock Up 0.5%

Shares of AngioDynamics stock traded up $0.04 on Friday, hitting $8.77. 268,966 shares of the company were exchanged, compared to its average volume of 498,874. The stock has a market capitalization of $356.33 million, a price-to-earnings ratio of -10.57 and a beta of 0.67. The company has a 50-day moving average price of $9.44 and a 200 day moving average price of $9.67. AngioDynamics, Inc. has a 1-year low of $5.83 and a 1-year high of $13.50.

AngioDynamics (NASDAQ:ANGO - Get Free Report) last released 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. The firm 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 business's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.06) EPS. Research analysts forecast that AngioDynamics, Inc. will post -0.37 EPS for the current year.

AngioDynamics 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.