AngioDynamics, Inc. (NASDAQ:ANGO) Sees Significant Drop in Short Interest

AngioDynamics, Inc. (NASDAQ:ANGO) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 1,260,000 shares, a decline of 9.4% from the August 15th total of 1,390,000 shares. Based on an average daily volume of 522,800 shares, the short-interest ratio is currently 2.4 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ANGO. Armistice Capital LLC acquired a new position in AngioDynamics in the 4th quarter valued at about $6,272,000. 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 worth $10,850,000 after acquiring an additional 529,861 shares during the period. Fund 1 Investments LLC acquired a new stake in AngioDynamics during the fourth quarter worth $3,896,000. Western Standard LLC lifted its stake in shares of AngioDynamics by 878.5% in the 1st quarter. Western Standard LLC now owns 523,393 shares of the medical instruments supplier’s stock valued at $3,072,000 after purchasing an additional 469,906 shares during the last quarter. Finally, First Eagle Investment Management LLC purchased a new position in shares of AngioDynamics during the 2nd quarter worth $1,321,000. Institutional investors and hedge funds own 89.43% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on ANGO. HC Wainwright reiterated a “buy” rating and issued a $14.00 price objective on shares of AngioDynamics in a report on Wednesday, July 17th. Canaccord Genuity Group lowered their price target on AngioDynamics from $18.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $12.25.

AngioDynamics Trading Up 1.7 %

Shares of NASDAQ ANGO opened at $7.64 on Wednesday. The stock has a market cap of $306.02 million, a PE ratio of -1.58 and a beta of 0.65. AngioDynamics has a 12-month low of $5.26 and a 12-month high of $8.25. The company has a 50-day moving average of $7.35 and a 200 day moving average of $6.47.

AngioDynamics (NASDAQ:ANGO) last posted its quarterly earnings results on Tuesday, July 16th. The medical instruments supplier reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.11. AngioDynamics had a negative return on equity of 4.91% and a negative net margin of 61.55%. The business had revenue of $71.00 million during the quarter, compared to analyst estimates of $70.86 million. During the same period in the prior year, the business earned $0.02 earnings per share. The business’s revenue was down 22.1% compared to the same quarter last year. On average, sell-side analysts forecast that AngioDynamics will post -0.41 EPS for the current fiscal year.

AngioDynamics Company Profile

AngioDynamics, Inc provides invasive medical devices used by professional healthcare providers for vascular access, surgery, peripheral vascular disease and oncology in the United States and internationally. It offers Auryon Atherectomy system that is designed to deliver an optimized wavelength, pulse width, and amplitude to remove lesions while preserving vessel wall endothelium for treatment of peripheral arterial disease.