AngioDynamics (NASDAQ:ANGO) Sets New 52-Week High – Here’s What Happened

AngioDynamics, Inc. (NASDAQ:ANGO) shares reached a new 52-week high during trading on Thursday . The company traded as high as $13.50 and last traded at $13.09, with a volume of 688075 shares trading hands. The stock had previously closed at $12.46.

Analysts Set New Price Targets

ANGO has been the subject of a number of research analyst reports. Canaccord Genuity Group decreased their price target on AngioDynamics from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, October 4th. HC Wainwright lifted their target price on AngioDynamics from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, January 10th.

AngioDynamics Price Performance

The stock has a market cap of $513.20 million, a PE ratio of -2.25 and a beta of 0.59. The business has a fifty day moving average of $9.61 and a 200-day moving average of $8.03.

AngioDynamics (NASDAQ:ANGO) last issued its 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 business had revenue of $72.90 million during the quarter, compared to analysts’ expectations of $70.93 million. AngioDynamics had a negative return on equity of 7.26% and a negative net margin of 79.38%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.05) EPS. As a group, equities research analysts predict that AngioDynamics, Inc. will post -0.37 EPS for the current year.

Insider Transactions at AngioDynamics

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

Hedge Funds Weigh In On AngioDynamics

A number of large investors have recently added to or reduced their stakes in ANGO. Rhumbline Advisers grew its position in shares of AngioDynamics by 1.7% in the 4th quarter. Rhumbline Advisers now owns 60,479 shares of the medical instruments supplier’s stock worth $554,000 after buying an additional 1,021 shares during the last quarter. Quarry LP grew its stake in AngioDynamics by 40.9% during the 3rd quarter. Quarry LP now owns 8,518 shares of the medical instruments supplier’s stock worth $66,000 after buying an additional 2,471 shares during the last quarter. SG Americas Securities LLC increased its position in AngioDynamics by 21.3% during the 4th quarter. SG Americas Securities LLC now owns 16,102 shares of the medical instruments supplier’s stock valued at $147,000 after buying an additional 2,832 shares in the last quarter. R Squared Ltd purchased a new stake in AngioDynamics in the fourth quarter valued at about $49,000. Finally, CWM LLC boosted its holdings in AngioDynamics by 981.3% in the third quarter. CWM LLC now owns 9,732 shares of the medical instruments supplier’s stock worth $76,000 after acquiring an additional 8,832 shares in the last quarter. 89.43% of the stock is currently owned by 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.