AngioDynamics (NASDAQ:ANGO) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

AngioDynamics, Inc. (NASDAQ:ANGO) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-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 changing hands.

Analysts Set New Price Targets

Several research firms have recently weighed in on ANGO. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of AngioDynamics in a research note on Friday, October 4th. Canaccord Genuity Group reduced 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.

AngioDynamics Stock Down 0.7 %

The business’s 50-day moving average price is $7.17 and its 200 day moving average price is $6.68. The company has a market capitalization of $283.99 million, a P/E ratio of -1.48 and a beta of 0.65.

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

Insider Activity

In related news, CEO James C. Clemmer bought 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was bought at an average cost of $6.03 per share, for a total transaction of $120,600.00. Following the completion of the transaction, the chief executive officer now owns 681,582 shares of the company’s stock, valued at approximately $4,109,939.46. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have purchased 22,568 shares of company stock worth $135,847. 5.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AngioDynamics

A number of large investors have recently modified their holdings of the company. Quarry LP grew its position in AngioDynamics by 75.1% during the second quarter. Quarry LP now owns 6,047 shares of the medical instruments supplier’s stock valued at $37,000 after acquiring an additional 2,594 shares during the last quarter. CWM LLC boosted its stake in shares of AngioDynamics by 981.3% in the 3rd quarter. CWM LLC now owns 9,732 shares of the medical instruments supplier’s stock valued at $76,000 after purchasing an additional 8,832 shares in the last quarter. Mackenzie Financial Corp bought a new position in shares of AngioDynamics during the 2nd quarter valued at $80,000. Wealth Enhancement Advisory Services LLC purchased a new position in AngioDynamics in the 3rd quarter worth $86,000. Finally, AE Wealth Management LLC bought a new stake in AngioDynamics in the second quarter worth $87,000. 89.43% of the stock is owned by hedge funds and other 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.