AngioDynamics (NASDAQ:ANGO) Trading Up 6.2% – Time to Buy?

AngioDynamics, Inc. (NASDAQ:ANGO)’s share price rose 6.2% on Thursday . The company traded as high as $12.91 and last traded at $12.93. Approximately 416,305 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 1,234,555 shares. The stock had previously closed at $12.17.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. HC Wainwright upped their target price on shares of AngioDynamics from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Canaccord Genuity Group dropped their target price on AngioDynamics from $13.00 to $12.00 and set a “buy” rating for the company in a report on Friday, October 4th.

AngioDynamics Stock Performance

The company has a market capitalization of $503.04 million, a P/E ratio of -2.21 and a beta of 0.59. The firm’s fifty day moving average is $8.75 and its 200 day moving average is $7.65.

AngioDynamics (NASDAQ:ANGO) last issued its quarterly earnings results on Wednesday, January 8th. The medical instruments supplier reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.07. The firm had revenue of $72.90 million for the quarter, compared to the consensus estimate of $70.93 million. AngioDynamics had a negative return on equity of 7.26% and a negative net margin of 79.38%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) earnings per share. On average, analysts forecast that AngioDynamics, Inc. will post -0.36 EPS for the current year.

Insider Transactions at AngioDynamics

In related news, SVP Warren Nighan, Jr. sold 4,060 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $12.31, for a total value of $49,978.60. Following the transaction, the senior vice president now owns 41,817 shares of the company’s stock, valued at $514,767.27. This represents a 8.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On AngioDynamics

Several hedge funds have recently made changes to their positions in the company. Systematic Financial Management LP increased its stake in shares of AngioDynamics by 14.3% during the third quarter. Systematic Financial Management LP now owns 2,410,346 shares of the medical instruments supplier’s stock valued at $18,752,000 after buying an additional 300,785 shares during the period. Millennium Management LLC grew its holdings in AngioDynamics by 41.9% during the 2nd quarter. Millennium Management LLC now owns 1,793,454 shares of the medical instruments supplier’s stock worth $10,850,000 after acquiring an additional 529,861 shares in the last quarter. Royce & Associates LP increased its position in AngioDynamics by 10.8% during the 3rd quarter. Royce & Associates LP now owns 986,073 shares of the medical instruments supplier’s stock valued at $7,672,000 after purchasing an additional 96,138 shares during the period. Geode Capital Management LLC raised its holdings in shares of AngioDynamics by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 960,767 shares of the medical instruments supplier’s stock valued at $7,477,000 after purchasing an additional 46,409 shares in the last quarter. Finally, Segall Bryant & Hamill LLC lifted its position in shares of AngioDynamics by 142.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 911,443 shares of the medical instruments supplier’s stock worth $7,091,000 after purchasing an additional 535,958 shares during the period. 89.43% of the stock is currently owned by hedge funds and other institutional investors.

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.