Phocas Financial Corp. Takes $3.18 Million Position in AngioDynamics, Inc. (NASDAQ:ANGO)

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. acquired a new position in shares of AngioDynamics, Inc. (NASDAQ:ANGO - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 338,358 shares of the medical instruments supplier's stock, valued at approximately $3,177,000. Phocas Financial Corp. owned about 0.83% of AngioDynamics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Systematic Financial Management LP raised its holdings in AngioDynamics by 4.6% during the 4th quarter. Systematic Financial Management LP now owns 2,521,065 shares of the medical instruments supplier's stock worth $23,093,000 after purchasing an additional 110,719 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of AngioDynamics by 10.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,488,667 shares of the medical instruments supplier's stock valued at $13,636,000 after acquiring an additional 135,007 shares during the last quarter. Nuveen Asset Management LLC increased its stake in shares of AngioDynamics by 37.4% in the 4th quarter. Nuveen Asset Management LLC now owns 1,296,366 shares of the medical instruments supplier's stock valued at $11,875,000 after acquiring an additional 353,070 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of AngioDynamics by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 974,302 shares of the medical instruments supplier's stock valued at $8,927,000 after acquiring an additional 13,535 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of AngioDynamics by 46.0% in the 4th quarter. JPMorgan Chase & Co. now owns 807,483 shares of the medical instruments supplier's stock valued at $7,397,000 after acquiring an additional 254,322 shares during the last quarter. 89.43% of the stock is owned by institutional investors.

AngioDynamics Stock Performance

NASDAQ ANGO traded up $0.11 during trading hours on Monday, reaching $8.67. 338,331 shares of the company's stock were exchanged, compared to its average volume of 653,391. AngioDynamics, Inc. has a one year low of $5.83 and a one year high of $13.50. The company's 50-day moving average is $9.77 and its two-hundred day moving average is $9.90. The company has a market capitalization of $352.26 million, a price-to-earnings ratio of -10.45 and a beta of 0.67.

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

Analyst Ratings Changes

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

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.