Legato Capital Management LLC Takes Position in AngioDynamics, Inc. (NASDAQ:ANGO)

Key Points

• Legato Capital Management LLC invested approximately $499,000 in AngioDynamics, acquiring 53,127 shares, representing about 0.13% ownership of the company.
• The stock price of AngioDynamics increased by 1.2% to $9.22, with a market capitalization of $374.61 million and a 52-week range of $5.83 to $13.50.
• Analyst ratings for AngioDynamics are predominantly favorable, with price targets set at $16.00 by HC Wainwright and $24.00 by Lake Street Capital, both suggesting a buy stance on the stock.

Legato Capital Management LLC purchased a new position in shares of AngioDynamics, Inc. (NASDAQ:ANGO - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 53,127 shares of the medical instruments supplier's stock, valued at approximately $499,000. Legato Capital Management LLC owned 0.13% of AngioDynamics as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in AngioDynamics by 4.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,968 shares of the medical instruments supplier's stock valued at $201,000 after acquiring an additional 969 shares during the period. Invesco Ltd. boosted its stake in shares of AngioDynamics by 1.2% in the fourth quarter. Invesco Ltd. now owns 119,249 shares of the medical instruments supplier's stock valued at $1,092,000 after purchasing an additional 1,451 shares during the period. OneDigital Investment Advisors LLC boosted its position in AngioDynamics by 14.0% in the 4th quarter. OneDigital Investment Advisors LLC now owns 12,137 shares of the medical instruments supplier's stock valued at $111,000 after buying an additional 1,490 shares during the period. Charles Schwab Investment Management Inc. boosted its position in AngioDynamics by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 329,090 shares of the medical instruments supplier's stock valued at $3,014,000 after buying an additional 2,270 shares during the period. Finally, Cerity Partners LLC boosted its position in AngioDynamics by 22.0% in the 1st quarter. Cerity Partners LLC now owns 12,929 shares of the medical instruments supplier's stock valued at $121,000 after buying an additional 2,333 shares during the period. 89.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ANGO shares. Canaccord Genuity Group lifted their target price on AngioDynamics from $15.00 to $17.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Lake Street Capital assumed coverage on AngioDynamics in a report on Wednesday, July 16th. They issued a "buy" rating and a $24.00 target price for the company. Finally, HC Wainwright reiterated a "buy" rating and issued a $16.00 price objective on shares of AngioDynamics in a research note on Wednesday, July 16th.

AngioDynamics Price Performance

Shares of NASDAQ:ANGO traded down $0.02 on Tuesday, reaching $9.10. The company's stock had a trading volume of 67,341 shares, compared to its average volume of 656,567. The stock's 50-day moving average is $9.82 and its two-hundred day moving average is $10.00. AngioDynamics, Inc. has a 52-week low of $5.83 and a 52-week high of $13.50. The stock has a market capitalization of $369.69 million, a P/E ratio of -10.96 and a beta of 0.60.

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, topping the consensus estimate of ($0.12) by $0.09. The business had revenue of $80.16 million during the quarter, compared to analysts' expectations of $74.26 million. AngioDynamics had a negative return on equity of 3.20% and a negative net margin of 11.62%. The company's quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.06) earnings per share. Equities analysts forecast that AngioDynamics, Inc. will post -0.37 earnings per share for the current fiscal year.

About AngioDynamics

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.