Legato Capital Management LLC Takes $499,000 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 first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 53,127 shares of the medical instruments supplier's stock, valued at approximately $499,000. Legato Capital Management LLC owned about 0.13% of AngioDynamics as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 last quarter. Intech Investment Management LLC acquired a new stake in shares of AngioDynamics in the 4th quarter valued at approximately $152,000. American Century Companies Inc. boosted its holdings in shares of AngioDynamics by 22.1% in the 4th quarter. American Century Companies Inc. now owns 67,942 shares of the medical instruments supplier's stock valued at $622,000 after buying an additional 12,306 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in AngioDynamics by 46.0% during the 4th quarter. JPMorgan Chase & Co. now owns 807,483 shares of the medical instruments supplier's stock valued at $7,397,000 after purchasing an additional 254,322 shares during the last quarter. Finally, Orion Portfolio Solutions LLC lifted its holdings in AngioDynamics by 7.4% during the 4th quarter. Orion Portfolio Solutions LLC now owns 179,897 shares of the medical instruments supplier's stock valued at $1,648,000 after purchasing an additional 12,383 shares during the last quarter. Institutional investors and hedge funds own 89.43% of the company's stock.

Analysts Set New Price Targets

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

AngioDynamics Stock Performance

Shares of NASDAQ ANGO traded up $0.11 during mid-day trading on Friday, reaching $9.22. The company had a trading volume of 409,898 shares, compared to its average volume of 860,139. AngioDynamics, Inc. has a one year low of $5.83 and a one year high of $13.50. The firm has a market cap of $374.61 million, a price-to-earnings ratio of -11.11 and a beta of 0.60. The business's 50-day simple moving average is $9.83 and its 200 day simple moving average is $10.06.

AngioDynamics (NASDAQ:ANGO - Get Free Report) last released its quarterly earnings data on Tuesday, July 15th. The medical instruments supplier reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.09. The business had revenue of $80.16 million for the quarter, compared to analyst estimates of $74.26 million. AngioDynamics had a negative return on equity of 3.20% and a negative net margin of 11.62%. AngioDynamics's revenue was up 13.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.06) earnings per share. On average, sell-side analysts anticipate 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.