Royce & Associates LP Has $9.65 Million Stake in 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 lessened its position in shares of AngioDynamics, Inc. (NASDAQ:ANGO - Free Report) by 8.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Systematic Financial Management LP increased 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 in the last quarter. Dimensional Fund Advisors LP increased its holdings in AngioDynamics by 10.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,488,667 shares of the medical instruments supplier's stock worth $13,636,000 after purchasing an additional 135,007 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in AngioDynamics by 37.4% during the 4th quarter. Nuveen Asset Management LLC now owns 1,296,366 shares of the medical instruments supplier's stock worth $11,875,000 after purchasing an additional 353,070 shares in the last quarter. Geode Capital Management LLC increased its holdings in AngioDynamics by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 974,302 shares of the medical instruments supplier's stock worth $8,927,000 after purchasing an additional 13,535 shares in the last quarter. Finally, JPMorgan Chase & Co. increased 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 worth $7,397,000 after purchasing an additional 254,322 shares in the last quarter. Institutional investors own 89.43% of the company's stock.

AngioDynamics Stock Performance

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

AngioDynamics (NASDAQ:ANGO - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The medical instruments supplier reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.09. The firm had revenue of $80.16 million during the quarter, compared to the consensus estimate 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 for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the business posted ($0.06) earnings per share. As a group, equities analysts forecast that AngioDynamics, Inc. will post -0.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

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