AngioDynamics (NASDAQ:ANGO) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

AngioDynamics, Inc. (NASDAQ:ANGO)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.68 and traded as high as $7.34. AngioDynamics shares last traded at $7.27, with a volume of 1,677,140 shares traded.

Analysts Set New Price Targets

Several equities analysts have recently commented 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 note on Friday, October 4th. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price target on shares of AngioDynamics in a research report on Friday, October 4th.

AngioDynamics Trading Down 0.7 %

The business’s 50 day moving average price is $7.17 and its two-hundred day moving average price is $6.68. The stock has a market cap of $283.99 million, a P/E ratio of -1.48 and a beta of 0.65.

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

Insider Activity

In other AngioDynamics news, CEO James C. Clemmer bought 20,000 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was acquired at an average price of $6.03 per share, with a total value of $120,600.00. Following the completion of the purchase, the chief executive officer now owns 681,582 shares of the company’s stock, valued at approximately $4,109,939.46. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have acquired 22,568 shares of company stock worth $135,847. Corporate insiders own 5.10% of the company’s stock.

Institutional Investors Weigh In On AngioDynamics

Institutional investors have recently made changes to their positions in the company. Millennium Management LLC lifted its position in AngioDynamics by 41.9% in the 2nd 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 in the last quarter. Western Standard LLC raised its stake in shares of AngioDynamics by 878.5% in the first quarter. Western Standard LLC now owns 523,393 shares of the medical instruments supplier’s stock worth $3,072,000 after purchasing an additional 469,906 shares during the last quarter. First Eagle Investment Management LLC bought a new position in shares of AngioDynamics during the second quarter valued at $1,321,000. Systematic Financial Management LP boosted its position in shares of AngioDynamics by 8.4% during the second quarter. Systematic Financial Management LP now owns 2,109,561 shares of the medical instruments supplier’s stock valued at $12,763,000 after buying an additional 162,972 shares during the last quarter. Finally, Kennedy Capital Management LLC increased its holdings in AngioDynamics by 425.0% in the 1st quarter. Kennedy Capital Management LLC now owns 190,236 shares of the medical instruments supplier’s stock worth $1,117,000 after buying an additional 154,002 shares in the last quarter. Hedge funds and other 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.