Connor Clark & Lunn Investment Management Ltd. Purchases New Holdings in AngioDynamics, Inc. $ANGO

Key Points

• Connor Clark & Lunn purchased 121,273 shares of AngioDynamics worth approximately $1.58 million, while institutional investors collectively own 89.43% of the company.
• AngioDynamics exceeded quarterly expectations, reporting an adjusted loss of $0.07 per share versus the $0.11 consensus estimate and revenue of $86.61 million versus $80.24 million expected.
• Analyst sentiment remains mixed: HC Wainwright and Canaccord raised price targets to $19 and $20, respectively, while other firms issued sell or strong-sell ratings; the consensus rating is Hold with a $19.50 target.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in AngioDynamics, Inc. (NASDAQ:ANGO - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 121,273 shares of the medical instruments supplier's stock, valued at approximately $1,578,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.29% of AngioDynamics at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its stake in shares of AngioDynamics by 9.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 259,226 shares of the medical instruments supplier's stock valued at $2,434,000 after buying an additional 22,658 shares during the period. Jane Street Group LLC lifted its stake in shares of AngioDynamics by 267.1% during the first 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 during the period. Legal & General Group Plc lifted its stake in shares of AngioDynamics by 279.5% during the second 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 during the period. Rhumbline Advisers boosted its holdings in AngioDynamics by 4.3% in the second quarter. Rhumbline Advisers now owns 61,337 shares of the medical instruments supplier's stock valued at $608,000 after acquiring an additional 2,510 shares during the last quarter. Finally, American Century Companies Inc. increased its position in AngioDynamics by 15.8% in the second quarter. American Century Companies Inc. now owns 96,808 shares of the medical instruments supplier's stock worth $960,000 after purchasing an additional 13,217 shares during the period. Institutional investors and hedge funds own 89.43% of the company's stock.

AngioDynamics Stock Performance

NASDAQ ANGO opened at $15.85 on Friday. The business has a 50 day simple moving average of $14.34 and a 200 day simple moving average of $12.24. AngioDynamics, Inc. has a 52-week low of $9.39 and a 52-week high of $16.29. The stock has a market cap of $655.08 million, a price-to-earnings ratio of -18.22 and a beta of 0.33.

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

Analysts Set New Price Targets

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

Insider Buying and Selling

In other AngioDynamics news, SVP Warren Nighan, Jr. sold 23,370 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $14.72, for a total transaction of $344,006.40. Following the completion of the transaction, the senior vice president owned 64,745 shares in the company, valued at approximately $953,046.40. This represents a 26.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.00% of the company's stock.

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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