Essex Investment Management Co. LLC Buys New Position in AngioDynamics, Inc. (NASDAQ:ANGO)

Essex Investment Management Co. LLC bought a new stake in shares of AngioDynamics, Inc. (NASDAQ:ANGO) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 179,190 shares of the medical instruments supplier’s stock, valued at approximately $1,683,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Systematic Financial Management LP lifted its position in shares of AngioDynamics by 4.6% in the 4th quarter. Systematic Financial Management LP now owns 2,521,065 shares of the medical instruments supplier’s stock worth $23,093,000 after acquiring an additional 110,719 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of AngioDynamics by 10.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,488,667 shares of the medical instruments supplier’s stock worth $13,636,000 after acquiring an additional 135,007 shares during the period. Nuveen Asset Management LLC lifted its position in shares of AngioDynamics by 37.4% in the 4th quarter. Nuveen Asset Management LLC now owns 1,296,366 shares of the medical instruments supplier’s stock worth $11,875,000 after acquiring an additional 353,070 shares during the period. Geode Capital Management LLC lifted its position in shares of AngioDynamics by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 974,302 shares of the medical instruments supplier’s stock worth $8,927,000 after acquiring an additional 13,535 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of AngioDynamics by 46.0% in the 4th quarter. JPMorgan Chase & Co. now owns 807,483 shares of the medical instruments supplier’s stock worth $7,397,000 after acquiring an additional 254,322 shares during the period. Institutional investors own 89.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ANGO shares. Lake Street Capital started coverage on AngioDynamics in a report on Wednesday, July 16th. They issued a “buy” rating and a $24.00 target price for the company. Canaccord Genuity Group increased their target price on AngioDynamics from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Finally, HC Wainwright reissued a “buy” rating and issued a $16.00 target price on shares of AngioDynamics in a report on Wednesday, July 16th.

AngioDynamics Stock Performance

Shares of ANGO opened at $9.12 on Wednesday. AngioDynamics, Inc. has a 1 year low of $5.83 and a 1 year high of $13.50. The stock has a 50 day simple moving average of $9.82 and a 200-day simple moving average of $9.99. The stock has a market cap of $370.58 million, a PE ratio of -10.99 and a beta of 0.60.

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

AngioDynamics 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.