AngioDynamics (NASDAQ:ANGO) Stock Rating Reaffirmed as Buy by Canaccord Genuity Group

AngioDynamics (NASDAQ:ANGO)‘s stock had its “buy” rating restated by research analysts at Canaccord Genuity Group in a research note issued on Friday, Benzinga reports. They currently have a $20.00 target price on the medical instruments supplier’s stock. Canaccord Genuity Group’s price target points to a potential upside of 87.95% from the company’s current price.

Several other equities analysts have also issued reports on ANGO. Zacks Research raised shares of AngioDynamics from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. HC Wainwright lifted their price target on shares of AngioDynamics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AngioDynamics in a report on Friday, July 17th. Finally, Wall Street Zen raised shares of AngioDynamics from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $19.50.

AngioDynamics Stock Down 6.7%

ANGO stock traded down $0.76 during trading on Friday, hitting $10.64. 490,770 shares of the company’s stock traded hands, compared to its average volume of 508,999. The firm has a market capitalization of $447.50 million, a P/E ratio of -13.65 and a beta of 0.30. The business has a fifty day simple moving average of $15.25 and a two-hundred day simple moving average of $13.13. AngioDynamics has a 1 year low of $9.39 and a 1 year high of $16.29.

AngioDynamics (NASDAQ:ANGO) last issued its quarterly earnings data on Thursday, October 8th. The medical instruments supplier reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.07. The company had revenue of $80.92 million for the quarter, compared to analyst estimates of $80.51 million. AngioDynamics had a negative net margin of 10.12% and a negative return on equity of 4.49%. AngioDynamics has set its FY 2027 guidance at -0.290–0.240 EPS. On average, equities research analysts predict that AngioDynamics will post -0.25 EPS for the current fiscal year.

Insider Buying and Selling at AngioDynamics

In other news, SVP Warren Jr sold 23,370 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $14.72, for a total transaction of $344,006.40. Following the sale, the senior vice president directly owned 64,745 shares of the company’s stock, valued at $953,046.40. The trade was a 26.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On AngioDynamics

A number of large investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC purchased a new stake in shares of AngioDynamics during the second quarter valued at $38,000. Corient Private Wealth LP purchased a new stake in shares of AngioDynamics during the second quarter valued at $134,000. Public Employees Retirement System of Ohio purchased a new stake in shares of AngioDynamics during the second quarter valued at $64,000. Bank of America Corp DE purchased a new stake in shares of AngioDynamics during the second quarter valued at $4,490,000. Finally, Gallagher Fiduciary Advisors LLC purchased a new stake in shares of AngioDynamics during the second quarter valued at $589,000. 89.43% of the stock is owned by hedge funds and other institutional investors.

About AngioDynamics

AngioDynamics, Inc is a medical device company that develops, manufactures and markets minimally invasive products for use in vascular disease, vascular access and oncology. Its technologies are designed to help physicians treat blood clots, restore blood flow, manage vascular access and ablate targeted tissue.

The company’s portfolio includes the Auryon platform for atherectomy, which uses laser technology to treat peripheral arterial disease; the AngioVac and AlphaVac systems for removing thrombus and other unwanted material from blood vessels; and BioSentry products used to seal biopsy tracts.