AngioDynamics (NASDAQ:ANGO) Now Covered by Analysts at Lake Street Capital

Lake Street Capital initiated coverage on shares of AngioDynamics (NASDAQ:ANGO) in a report released on Wednesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $24.00 target price on the medical instruments supplier’s stock.

Several other equities analysts have also commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $16.00 target price on shares of AngioDynamics in a report on Wednesday. Canaccord Genuity Group set a $17.00 target price on shares of AngioDynamics and gave the company a “buy” rating in a report on Wednesday.

AngioDynamics Stock Performance

AngioDynamics stock opened at $8.69 on Wednesday. The firm’s fifty day moving average price is $9.86 and its 200-day moving average price is $10.07. The stock has a market cap of $352.90 million, a P/E ratio of -10.47 and a beta of 0.60. AngioDynamics has a fifty-two week low of $5.83 and a fifty-two week high of $13.50.

AngioDynamics (NASDAQ:ANGO) last released its earnings results on Tuesday, July 15th. The medical instruments supplier reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.09. AngioDynamics had a negative net margin of 11.62% and a negative return on equity of 3.20%. The company had revenue of $80.16 million for the quarter, compared to analyst estimates of $74.26 million. During the same quarter last year, the firm earned ($0.06) EPS. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, analysts predict that AngioDynamics will post -0.37 earnings per share for the current year.

Institutional Investors Weigh In On AngioDynamics

A number of large investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in AngioDynamics by 4.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,968 shares of the medical instruments supplier’s stock worth $201,000 after acquiring an additional 969 shares during the last quarter. Invesco Ltd. grew its holdings in AngioDynamics by 1.2% in the 4th quarter. Invesco Ltd. now owns 119,249 shares of the medical instruments supplier’s stock worth $1,092,000 after acquiring an additional 1,451 shares during the last quarter. OneDigital Investment Advisors LLC grew its holdings in AngioDynamics by 14.0% in the 4th quarter. OneDigital Investment Advisors LLC now owns 12,137 shares of the medical instruments supplier’s stock worth $111,000 after acquiring an additional 1,490 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in AngioDynamics by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 329,090 shares of the medical instruments supplier’s stock worth $3,014,000 after acquiring an additional 2,270 shares during the last quarter. Finally, Cerity Partners LLC grew its holdings in AngioDynamics by 22.0% in the 1st quarter. Cerity Partners LLC now owns 12,929 shares of the medical instruments supplier’s stock worth $121,000 after acquiring an additional 2,333 shares during the last quarter. Institutional investors own 89.43% of the company’s stock.

AngioDynamics Company Profile

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.