AngioDynamics, Inc. (NASDAQ:ANGO) Sees Significant Growth in Short Interest

AngioDynamics, Inc. (NASDAQ:ANGO) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totalling 1,780,000 shares, an increase of 8.5% from the June 15th total of 1,640,000 shares. Based on an average trading volume of 466,600 shares, the days-to-cover ratio is currently 3.8 days.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ANGO. Armistice Capital LLC acquired a new stake in shares of AngioDynamics during the 4th quarter worth approximately $6,272,000. Fund 1 Investments LLC acquired a new position in shares of AngioDynamics in the fourth quarter worth about $3,896,000. Western Standard LLC boosted its stake in shares of AngioDynamics by 878.5% during the 1st quarter. Western Standard LLC now owns 523,393 shares of the medical instruments supplier’s stock worth $3,072,000 after acquiring an additional 469,906 shares in the last quarter. Kennedy Capital Management LLC grew its position in shares of AngioDynamics by 425.0% during the 1st quarter. Kennedy Capital Management LLC now owns 190,236 shares of the medical instruments supplier’s stock valued at $1,117,000 after acquiring an additional 154,002 shares during the period. Finally, ADAR1 Capital Management LLC purchased a new position in shares of AngioDynamics in the 4th quarter valued at about $1,042,000. 89.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ANGO has been the topic of several recent analyst reports. HC Wainwright restated a “buy” rating and set a $14.00 price objective on shares of AngioDynamics in a report on Wednesday. Oppenheimer upgraded shares of AngioDynamics from a “market perform” rating to an “outperform” rating and set a $12.00 price objective for the company in a research note on Friday, April 5th. Finally, Canaccord Genuity Group cut their target price on AngioDynamics from $18.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, AngioDynamics has an average rating of “Moderate Buy” and a consensus target price of $12.25.

AngioDynamics Trading Down 1.5 %

Shares of NASDAQ ANGO opened at $7.40 on Thursday. The stock has a market cap of $296.41 million, a price-to-earnings ratio of -1.53 and a beta of 0.66. AngioDynamics has a 12 month low of $5.26 and a 12 month high of $9.77. The company has a 50 day simple moving average of $6.05 and a two-hundred day simple moving average of $6.05.

AngioDynamics (NASDAQ:ANGO) last posted its quarterly earnings results on Tuesday, July 16th. The medical instruments supplier reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.11. The company had revenue of $71.00 million for the quarter, compared to analyst estimates of $70.86 million. AngioDynamics had a negative net margin of 60.21% and a negative return on equity of 3.48%. The firm’s revenue was down 22.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.02 earnings per share. Analysts forecast that AngioDynamics will post -0.57 EPS for the current year.

AngioDynamics Company Profile

AngioDynamics, Inc provides invasive medical devices used by professional healthcare providers for vascular access, surgery, peripheral vascular disease and oncology in the United States and internationally. It offers Auryon Atherectomy system that is designed to deliver an optimized wavelength, pulse width, and amplitude to remove lesions while preserving vessel wall endothelium for treatment of peripheral arterial disease.