Short Interest in AngioDynamics, Inc. (NASDAQ:ANGO) Rises By 17.8%

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AngioDynamics, Inc. (NASDAQ:ANGO) was the target of a significant growth in short interest during the month of November. As of November 29th, there was short interest totalling 992,900 shares, a growth of 17.8% from the November 14th total of 843,100 shares. Approximately 2.7% of the company’s shares are short sold. Based on an average daily volume of 299,700 shares, the days-to-cover ratio is currently 3.3 days.

ANGO traded up $0.14 during trading on Thursday, reaching $15.64. The stock had a trading volume of 1,778 shares, compared to its average volume of 240,084. The firm has a market capitalization of $576.34 million, a price-to-earnings ratio of 18.92 and a beta of 0.62. AngioDynamics has a 1-year low of $13.72 and a 1-year high of $25.48. The stock has a 50 day moving average of $15.15 and a two-hundred day moving average of $17.93.

AngioDynamics (NASDAQ:ANGO) last released its earnings results on Thursday, October 3rd. The medical instruments supplier reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. AngioDynamics had a return on equity of 4.89% and a net margin of 17.79%. The firm had revenue of $66.00 million during the quarter, compared to the consensus estimate of $67.74 million. During the same period in the prior year, the firm posted $0.16 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities research analysts expect that AngioDynamics will post 0.12 earnings per share for the current fiscal year.

In related news, CEO James C. Clemmer acquired 15,000 shares of AngioDynamics stock in a transaction on Friday, October 25th. The shares were bought at an average price of $14.19 per share, for a total transaction of $212,850.00. Following the completion of the purchase, the chief executive officer now directly owns 260,418 shares in the company, valued at approximately $3,695,331.42. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.60% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in ANGO. Strs Ohio increased its stake in AngioDynamics by 5.3% in the second quarter. Strs Ohio now owns 36,000 shares of the medical instruments supplier’s stock worth $708,000 after purchasing an additional 1,800 shares during the period. Keybank National Association OH lifted its holdings in AngioDynamics by 41.8% during the second quarter. Keybank National Association OH now owns 66,670 shares of the medical instruments supplier’s stock worth $1,313,000 after acquiring an additional 19,650 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in AngioDynamics by 8.3% during the second quarter. Envestnet Asset Management Inc. now owns 57,658 shares of the medical instruments supplier’s stock worth $1,135,000 after acquiring an additional 4,416 shares in the last quarter. Swiss National Bank lifted its holdings in AngioDynamics by 2.1% during the second quarter. Swiss National Bank now owns 69,100 shares of the medical instruments supplier’s stock worth $1,361,000 after acquiring an additional 1,400 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its holdings in AngioDynamics by 7.8% during the second quarter. State Board of Administration of Florida Retirement System now owns 38,440 shares of the medical instruments supplier’s stock worth $757,000 after acquiring an additional 2,792 shares in the last quarter. Institutional investors own 99.75% of the company’s stock.

A number of analysts have recently issued reports on the company. KeyCorp dropped their target price on AngioDynamics from $30.00 to $21.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. ValuEngine upgraded AngioDynamics from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. BidaskClub downgraded AngioDynamics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 8th. Finally, TheStreet downgraded AngioDynamics from a “c” rating to a “d+” rating in a research report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $21.33.

About AngioDynamics

AngioDynamics, Inc designs, manufactures, and sells various medical, surgical, and diagnostic devices for the treatment of peripheral vascular disease, vascular access, and for use in oncology and surgical settings in the United States and internationally. The company provides AngioVac venous drainage system that includes venous drainage cannula for the removal of fresh, soft thrombi, or emboli during extracorporeal bypass; and cardiopulmonary bypass circuit for use in procedures during extracorporeal circulatory support.

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