Short Interest in AngioDynamics, Inc. (NASDAQ:ANGO) Drops By 16.9%

AngioDynamics, Inc. (NASDAQ:ANGO) saw 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 days-to-cover ratio is presently 2.6 days.

Insider Transactions at AngioDynamics

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

Hedge Funds Weigh In On AngioDynamics

A number of institutional investors have recently made changes to their positions in ANGO. BNP Paribas Financial Markets grew its position in shares of AngioDynamics by 40.5% during the first quarter. BNP Paribas Financial Markets now owns 117,046 shares of the medical instruments supplier’s stock worth $687,000 after buying an additional 33,742 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in AngioDynamics by 44.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 15,627 shares of the medical instruments supplier’s stock valued at $92,000 after acquiring an additional 4,780 shares during the last quarter. Acadian Asset Management LLC grew its holdings in AngioDynamics by 11.9% during the 1st quarter. Acadian Asset Management LLC now owns 1,012,186 shares of the medical instruments supplier’s stock worth $5,940,000 after acquiring an additional 107,764 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of AngioDynamics by 9.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 33,772 shares of the medical instruments supplier’s stock worth $199,000 after purchasing an additional 2,821 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in shares of AngioDynamics in the 1st quarter valued at about $106,000. 89.43% of the stock is owned by institutional investors and hedge funds.

AngioDynamics Trading Down 0.6 %

ANGO opened at $6.81 on Friday. AngioDynamics has a twelve month low of $5.26 and a twelve month high of $8.25. The firm has a market cap of $276.69 million, a price-to-earnings ratio of -1.12 and a beta of 0.67. The company has a fifty day simple moving average of $7.01 and a 200 day simple moving average of $6.75.

AngioDynamics (NASDAQ:ANGO) last announced its earnings results 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 company had revenue of $67.50 million during the quarter, compared to the consensus estimate of $67.93 million. During the same period last year, the firm earned ($0.12) earnings per share. The company’s revenue was down 14.2% on a year-over-year basis. On average, analysts forecast that AngioDynamics will post -0.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on ANGO shares. Canaccord Genuity Group reduced their target price on shares of AngioDynamics from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Friday, October 4th. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 target price on shares of AngioDynamics in a research report on Friday, October 4th.

About AngioDynamics

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.