Royce & Associates LP Sells 91,755 Shares of AngioDynamics, Inc. (NASDAQ:ANGO)

Key Points

• Royce & Associates LP has decreased its stake in AngioDynamics, Inc. by 8.2%, selling 91,755 shares, and now holds approximately 1,027,630 shares valued at $9.65 million.
• A number of hedge funds, including Quinn Opportunity Partners LLC and ProShare Advisors LLC, have recently acquired new positions in AngioDynamics during the fourth quarter, indicating increased institutional interest.
• Analysts have set price targets for AngioDynamics, with Lake Street Capital initiating coverage with a "buy" rating and a $24.00 target, while Canaccord Genuity increased its target to $17.00.

Royce & Associates LP trimmed its holdings in shares of AngioDynamics, Inc. (NASDAQ:ANGO - Free Report) by 8.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,027,630 shares of the medical instruments supplier's stock after selling 91,755 shares during the period. Royce & Associates LP owned about 2.53% of AngioDynamics worth $9,649,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quinn Opportunity Partners LLC acquired a new position in AngioDynamics in the 4th quarter worth approximately $92,000. ProShare Advisors LLC acquired a new stake in shares of AngioDynamics during the 4th quarter valued at $100,000. Graham Capital Management L.P. acquired a new stake in shares of AngioDynamics during the 4th quarter valued at $106,000. OneDigital Investment Advisors LLC boosted its stake in shares of AngioDynamics by 14.0% during 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. Finally, Cerity Partners LLC boosted its stake 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 buying an additional 2,333 shares during the period. Institutional investors and hedge funds own 89.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. HC Wainwright restated a "buy" rating and set a $16.00 price target on shares of AngioDynamics in a report on Wednesday, July 16th. Canaccord Genuity Group raised their price target on shares of AngioDynamics from $15.00 to $17.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Finally, Lake Street Capital assumed coverage on shares of AngioDynamics in a report on Wednesday, July 16th. They issued a "buy" rating and a $24.00 target price on the stock.

AngioDynamics Stock Down 0.7%

NASDAQ ANGO traded down $0.07 during midday trading on Tuesday, hitting $9.06. The company had a trading volume of 111,529 shares, compared to its average volume of 656,631. The stock has a market cap of $367.90 million, a price-to-earnings ratio of -10.92 and a beta of 0.60. The firm has a fifty day simple moving average of $9.82 and a two-hundred day simple moving average of $10.00. AngioDynamics, Inc. has a fifty-two week low of $5.83 and a fifty-two week high of $13.50.

AngioDynamics (NASDAQ:ANGO - Get Free Report) last issued its earnings results 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. AngioDynamics had a negative net margin of 11.62% and a negative return on equity of 3.20%. The business had revenue of $80.16 million for the quarter, compared to analyst estimates of $74.26 million. During the same period in the previous year, the business earned ($0.06) EPS. The firm's revenue was up 13.0% on a year-over-year basis. As a group, equities 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.