AngioDynamics, Inc. (NASDAQ:ANGO) Short Interest Down 16.9% in October

AngioDynamics, Inc. (NASDAQ:ANGO) was the recipient of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 1,230,000 shares, a drop of 16.9% from the October 15th total of 1,480,000 shares. Based on an average daily volume of 479,100 shares, the short-interest ratio is currently 2.6 days.

Insider Activity

In other AngioDynamics news, CEO James C. Clemmer bought 20,000 shares of AngioDynamics stock in a transaction on Monday, October 7th. The shares were acquired at an average price of $6.03 per share, for a total transaction of $120,600.00. Following the completion of the purchase, the chief executive officer now directly owns 681,582 shares in the company, valued at approximately $4,109,939.46. This trade represents a 3.02 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have bought 22,568 shares of company stock worth $135,847 in the last three months. Company insiders own 5.40% of the company’s stock.

Institutional Trading of AngioDynamics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC raised its holdings in shares of AngioDynamics by 142.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 911,443 shares of the medical instruments supplier’s stock valued at $7,091,000 after buying an additional 535,958 shares during the period. Millennium Management LLC raised its position in shares of 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 purchasing an additional 529,861 shares during the period. Western Standard LLC raised its stake in AngioDynamics by 878.5% during the 1st quarter. Western Standard LLC now owns 523,393 shares of the medical instruments supplier’s stock valued at $3,072,000 after acquiring an additional 469,906 shares in the last quarter. First Eagle Investment Management LLC bought a new position in shares of AngioDynamics in the second quarter valued at approximately $1,321,000. Finally, Systematic Financial Management LP raised its stake in shares of AngioDynamics by 8.4% in the 2nd quarter. Systematic Financial Management LP now owns 2,109,561 shares of the medical instruments supplier’s stock worth $12,763,000 after buying an additional 162,972 shares in the last quarter. Hedge funds and other institutional investors own 89.43% of the company’s stock.

AngioDynamics Stock Down 0.7 %

Shares of ANGO stock traded down $0.05 during trading hours on Friday, reaching $6.80. 170,125 shares of the stock were exchanged, compared to its average volume of 527,426. The business’s fifty day moving average is $7.02 and its two-hundred day moving average is $6.75. AngioDynamics has a 12-month low of $5.26 and a 12-month high of $8.25.

AngioDynamics (NASDAQ:ANGO) last issued its quarterly earnings data on Thursday, October 3rd. The medical instruments supplier reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.04. The company had revenue of $67.50 million during the quarter, compared to analysts’ expectations of $67.93 million. AngioDynamics had a negative return on equity of 5.86% and a negative net margin of 83.95%. The firm’s revenue for the quarter was down 14.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.12) earnings per share. On average, equities research analysts anticipate that AngioDynamics will post -0.41 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Canaccord Genuity Group lowered their price objective on shares of AngioDynamics from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, October 4th. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of AngioDynamics in a research note on Friday, October 4th.

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.