AngioDynamics (NASDAQ:ANGO) Shares Gap Down – Time to Sell?

AngioDynamics, Inc. (NASDAQ:ANGO)’s share price gapped down prior to trading on Monday . The stock had previously closed at $12.30, but opened at $11.61. AngioDynamics shares last traded at $12.39, with a volume of 670,475 shares changing hands.

Analyst Ratings Changes

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

AngioDynamics Price Performance

The company has a market capitalization of $505.89 million, a price-to-earnings ratio of -2.04 and a beta of 0.59. The business’s 50-day moving average price is $8.23 and its two-hundred day moving average price is $7.45.

AngioDynamics (NASDAQ:ANGO) last announced its quarterly earnings data on Wednesday, January 8th. The medical instruments supplier reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.07. The firm 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 5.86% and a negative net margin of 83.95%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.05) EPS. As a group, research analysts predict that AngioDynamics, Inc. will post -0.41 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ANGO. Segall Bryant & Hamill LLC boosted its holdings in shares of AngioDynamics by 142.7% in 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 purchasing an additional 535,958 shares in the last quarter. Millennium Management LLC grew its position in AngioDynamics by 41.9% in the second quarter. Millennium Management LLC now owns 1,793,454 shares of the medical instruments supplier’s stock valued at $10,850,000 after acquiring an additional 529,861 shares during the last quarter. Systematic Financial Management LP raised its stake in AngioDynamics by 14.3% during the third quarter. Systematic Financial Management LP now owns 2,410,346 shares of the medical instruments supplier’s stock worth $18,752,000 after acquiring an additional 300,785 shares in the last quarter. First Eagle Investment Management LLC bought a new position in shares of AngioDynamics in the second quarter worth about $1,321,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of AngioDynamics by 28.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 553,161 shares of the medical instruments supplier’s stock valued at $4,304,000 after purchasing an additional 123,271 shares in the last quarter. 89.43% of the stock is owned by institutional investors.

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.