Shares of AngioDynamics Inc. (NASDAQ:ANGO) shot up 2.1% on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $16.81 and last traded at $16.81, with a volume of 200,432 shares. The stock had previously closed at $16.47.
The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. AngioDynamics had a positive return on equity of 3.94% and a negative net margin of 12.57%. The firm had revenue of $88.10 million for the quarter. During the same quarter last year, the company earned $0.11 earnings per share. The business’s revenue was up 5.3% on a year-over-year basis.
A number of brokerages have weighed in on ANGO. Zacks Investment Research upgraded AngioDynamics from a “sell” rating to a “hold” rating in a research report on Thursday, August 11th. KeyCorp set a $18.00 price target on AngioDynamics and gave the company a “buy” rating in a research report on Monday, September 12th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $15.20.
In other news, major shareholder Avista Capital Partners Gp, Ll sold 2,241,000 shares of the company’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $14.62, for a total transaction of $32,763,420.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David F. Burgstahler sold 2,250,000 shares of the company’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $14.62, for a total value of $32,895,000.00. Following the transaction, the director now directly owns 23,988 shares in the company, valued at approximately $350,704.56. The disclosure for this sale can be found here. 1.88% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the stock. RGM Capital LLC raised its position in shares of AngioDynamics by 1.5% in the first quarter. RGM Capital LLC now owns 3,385,402 shares of the company’s stock valued at $41,607,000 after buying an additional 49,202 shares during the period. Dimensional Fund Advisors LP raised its position in shares of AngioDynamics by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,968,384 shares of the company’s stock valued at $42,655,000 after buying an additional 121,841 shares during the period. BlackRock Fund Advisors raised its position in shares of AngioDynamics by 6.3% in the second quarter. BlackRock Fund Advisors now owns 1,796,317 shares of the company’s stock valued at $25,813,000 after buying an additional 106,151 shares during the period. Systematic Financial Management LP raised its position in shares of AngioDynamics by 11.4% in the second quarter. Systematic Financial Management LP now owns 871,046 shares of the company’s stock valued at $12,516,000 after buying an additional 88,967 shares during the period. Finally, Royce & Associates LP raised its position in shares of AngioDynamics by 4.3% in the second quarter. Royce & Associates LP now owns 752,109 shares of the company’s stock valued at $10,808,000 after buying an additional 31,308 shares during the period. 69.29% of the stock is currently owned by institutional investors and hedge funds.
The stock’s 50-day moving average is $16.81 and its 200 day moving average is $14.29. The stock’s market cap is $601.87 million.
AngioDynamics, Inc designs, manufactures and sells a range of medical, surgical and diagnostic devices used by professional healthcare providers for vascular access, for the treatment of peripheral vascular disease, and for use in oncology and surgical settings. The Company’s devices are used in minimally invasive, image-guided procedures.
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