AngioDynamics, Inc. (NASDAQ:ANGO) Short Interest Down 5.1% in July

AngioDynamics, Inc. (NASDAQ:ANGO) was the recipient of a large decrease in short interest in July. As of July 15th, there was short interest totalling 1,690,000 shares, a decrease of 5.1% from the June 30th total of 1,780,000 shares. Based on an average daily volume of 509,200 shares, the short-interest ratio is presently 3.3 days.

AngioDynamics Trading Down 0.6 %

Shares of AngioDynamics stock opened at $7.79 on Friday. The company has a 50 day moving average of $6.38 and a 200-day moving average of $6.12. AngioDynamics has a 1-year low of $5.26 and a 1-year high of $9.43. The company has a market cap of $313.78 million, a PE ratio of -1.61 and a beta of 0.66.

AngioDynamics (NASDAQ:ANGO) last issued its quarterly earnings data 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 business had revenue of $71.00 million during the quarter, compared to the consensus estimate of $70.86 million. AngioDynamics had a negative net margin of 61.55% and a negative return on equity of 4.91%. The firm’s revenue was down 22.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.02 EPS. Research analysts forecast that AngioDynamics will post -0.41 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Oppenheimer upgraded shares of AngioDynamics from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a research report on Friday, April 5th. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price target on shares of AngioDynamics in a report on Wednesday, July 17th. Finally, Canaccord Genuity Group cut their price target on shares of AngioDynamics from $18.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.25.

Hedge Funds Weigh In On AngioDynamics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Concurrent Investment Advisors LLC lifted its stake in AngioDynamics by 152.2% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 29,503 shares of the medical instruments supplier’s stock valued at $178,000 after purchasing an additional 17,803 shares during the last quarter. Bank of New York Mellon Corp increased its position in AngioDynamics by 9.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 174,742 shares of the medical instruments supplier’s stock valued at $1,057,000 after acquiring an additional 15,412 shares during the period. Williams & Novak LLC increased its position in AngioDynamics by 94.5% in the 2nd quarter. Williams & Novak LLC now owns 44,365 shares of the medical instruments supplier’s stock valued at $268,000 after acquiring an additional 21,550 shares during the period. Western Standard LLC increased its position in AngioDynamics by 878.5% in the 1st quarter. Western Standard LLC now owns 523,393 shares of the medical instruments supplier’s stock valued at $3,072,000 after acquiring an additional 469,906 shares during the period. Finally, Kennedy Capital Management LLC increased its position in AngioDynamics by 425.0% in 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. Institutional investors own 89.43% of the company’s stock.

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.