Panagora Asset Management Inc. Boosts Stock Position in AngioDynamics, Inc. $ANGO

Key Points

• Panagora Asset Management Inc. significantly increased its holdings in AngioDynamics, Inc., acquiring an additional 210,032 shares, raising its position by 249.5% during the first quarter.
• AngioDynamics reported earnings per share of ($0.03) for the latest quarter, surpassing analyst expectations, with a revenue increase of 13.0% year-over-year.
• Multiple analysts have upgraded AngioDynamics to a buy rating, with a consensus target price set at $19.00, reflecting positive sentiment in the market.

Panagora Asset Management Inc. increased its position in AngioDynamics, Inc. (NASDAQ:ANGO - Free Report) by 249.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 294,206 shares of the medical instruments supplier's stock after acquiring an additional 210,032 shares during the period. Panagora Asset Management Inc. owned about 0.72% of AngioDynamics worth $2,763,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. ProShare Advisors LLC bought a new position in shares of AngioDynamics during the fourth quarter valued at $100,000. Graham Capital Management L.P. bought a new position in AngioDynamics during the 4th quarter valued at about $106,000. Cerity Partners LLC boosted its holdings in shares of AngioDynamics by 22.0% during the 1st quarter. Cerity Partners LLC now owns 12,929 shares of the medical instruments supplier's stock valued at $121,000 after acquiring an additional 2,333 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of AngioDynamics by 1,281.4% in the first quarter. GAMMA Investing LLC now owns 13,897 shares of the medical instruments supplier's stock worth $130,000 after acquiring an additional 12,891 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of AngioDynamics during the first quarter valued at approximately $139,000. 89.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Lake Street Capital initiated coverage on shares of AngioDynamics in a research report on Wednesday, July 16th. They issued a "buy" rating and a $24.00 target price for the company. Wall Street Zen raised AngioDynamics from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Canaccord Genuity Group increased 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. Finally, HC Wainwright restated a "buy" rating and set a $16.00 price target on shares of AngioDynamics in a research note on Wednesday, July 16th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, AngioDynamics currently has a consensus rating of "Buy" and a consensus target price of $19.00.

AngioDynamics Price Performance

AngioDynamics stock remained flat at $10.73 during mid-day trading on Friday. 277,295 shares of the company traded hands, compared to its average volume of 367,246. The company has a 50 day moving average of $9.28 and a 200 day moving average of $9.57. The stock has a market cap of $435.96 million, a price-to-earnings ratio of -12.93 and a beta of 0.64. AngioDynamics, Inc. has a one year low of $5.83 and a one year high of $13.50.

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, topping analysts' consensus estimates of ($0.12) by $0.09. The firm had revenue of $80.16 million during 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%.The business's quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.06) earnings per share. AngioDynamics has set its FY 2026 guidance at -0.350--0.250 EPS. On average, research analysts predict that AngioDynamics, Inc. will post -0.37 earnings per share for the current year.

AngioDynamics Company 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.