338,358 Shares in AngioDynamics, Inc. (NASDAQ:ANGO) Purchased by Phocas Financial Corp.

Key Points

• Phocas Financial Corp. acquired approximately 338,358 shares of AngioDynamics, Inc. for around $3,177,000, representing 0.83% ownership in the company.
• AngioDynamics reported a 13.0% increase in revenue year-over-year, totaling $80.16 million for the quarter, with adjusted earnings per share beating estimates at ($0.03).
• Multiple analysts have issued a "buy" rating for AngioDynamics, with price targets ranging from $16.00 to $24.00, indicating optimism about the company's growth potential.

Phocas Financial Corp. bought a new stake in AngioDynamics, Inc. (NASDAQ:ANGO - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 338,358 shares of the medical instruments supplier's stock, valued at approximately $3,177,000. Phocas Financial Corp. owned 0.83% of AngioDynamics at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ANGO. Quinn Opportunity Partners LLC purchased a new stake in shares of AngioDynamics in the fourth quarter valued at about $92,000. ProShare Advisors LLC purchased a new position in AngioDynamics during the fourth quarter worth about $100,000. Graham Capital Management L.P. purchased a new position in AngioDynamics during the fourth quarter worth about $106,000. OneDigital Investment Advisors LLC boosted its stake in AngioDynamics by 14.0% during the fourth quarter. OneDigital Investment Advisors LLC now owns 12,137 shares of the medical instruments supplier's stock worth $111,000 after buying an additional 1,490 shares during the period. Finally, Cerity Partners LLC boosted its stake in AngioDynamics by 22.0% during the first quarter. Cerity Partners LLC now owns 12,929 shares of the medical instruments supplier's stock worth $121,000 after buying an additional 2,333 shares during the period. 89.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ANGO has been the subject of several recent research reports. HC Wainwright reissued a "buy" rating and issued a $16.00 price objective on shares of AngioDynamics in a research note on Wednesday, July 16th. Lake Street Capital assumed coverage on shares of AngioDynamics in a report on Wednesday, July 16th. They set a "buy" rating and a $24.00 price objective on the stock. Finally, Canaccord Genuity Group raised their price objective on shares of AngioDynamics from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th.

AngioDynamics Stock Performance

Shares of NASDAQ:ANGO traded down $0.17 during trading on Wednesday, reaching $8.50. 101,781 shares of the stock were exchanged, compared to its average volume of 647,132. AngioDynamics, Inc. has a 12-month low of $5.83 and a 12-month high of $13.50. The firm has a market cap of $345.36 million, a price-to-earnings ratio of -10.24 and a beta of 0.67. The firm's 50-day moving average price is $9.74 and its 200 day moving average price is $9.87.

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