335,519 Shares in AngioDynamics, Inc. (NASDAQ:ANGO) Acquired by Informed Momentum Co LLC

Key Points

• Informed Momentum Co LLC has made a new investment in AngioDynamics, acquiring 335,519 shares valued at approximately $3.15 million, increasing its ownership to about 0.83% of the company.
• Several large investors including Vanguard Group Inc. and Nuveen Asset Management LLC have also increased their stakes in AngioDynamics, indicating strong institutional interest with 89.43% of the stock owned by hedge funds and other institutional investors.
• AngioDynamics recently reported better-than-expected earnings, with a 13.0% year-over-year revenue increase and an EPS of ($0.03), surpassing analysts' projections.

Informed Momentum Co LLC purchased a new position in AngioDynamics, Inc. (NASDAQ:ANGO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 335,519 shares of the medical instruments supplier's stock, valued at approximately $3,151,000. Informed Momentum Co LLC owned 0.83% of AngioDynamics at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in ANGO. ProShare Advisors LLC purchased a new position in AngioDynamics in the 4th quarter worth about $100,000. Graham Capital Management L.P. bought a new position in AngioDynamics during the 4th quarter worth about $106,000. OneDigital Investment Advisors LLC grew its holdings in AngioDynamics by 14.0% during the 4th quarter. OneDigital Investment Advisors LLC now owns 12,137 shares of the medical instruments supplier's stock worth $111,000 after acquiring an additional 1,490 shares in the last quarter. Cerity Partners LLC grew its holdings in AngioDynamics by 22.0% during the 1st quarter. Cerity Partners LLC now owns 12,929 shares of the medical instruments supplier's stock worth $121,000 after acquiring an additional 2,333 shares in the last quarter. Finally, Nebula Research & Development LLC bought a new position in AngioDynamics during the 4th quarter worth about $125,000. Hedge funds and other institutional investors own 89.43% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on ANGO. Canaccord Genuity Group increased their target price on shares of AngioDynamics from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Lake Street Capital began coverage on shares of AngioDynamics in a report on Wednesday, July 16th. They set a "buy" rating and a $24.00 target price on the stock. Finally, HC Wainwright reiterated a "buy" rating and set a $16.00 target price on shares of AngioDynamics in a report on Wednesday, July 16th.

AngioDynamics Trading Down 3.6%

Shares of NASDAQ:ANGO traded down $0.33 during trading on Thursday, reaching $8.73. The stock had a trading volume of 427,943 shares, compared to its average volume of 640,111. AngioDynamics, Inc. has a one year low of $5.83 and a one year high of $13.50. The company has a market capitalization of $354.73 million, a P/E ratio of -10.52 and a beta of 0.67. The firm's 50-day simple moving average is $9.49 and its 200 day simple moving average is $9.71.

AngioDynamics (NASDAQ:ANGO - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The medical instruments supplier reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.12) by $0.09. AngioDynamics had a negative net margin of 11.62% and a negative return on equity of 3.20%. The business had revenue of $80.16 million for the quarter, compared to analysts' expectations of $74.26 million. During the same period last year, the business earned ($0.06) EPS. The company's revenue was up 13.0% compared to the same quarter last year. Equities research analysts forecast that AngioDynamics, Inc. will post -0.37 earnings per share for the current fiscal 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.