AngioDynamics (NASDAQ:ANGO) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?

Shares of AngioDynamics, Inc. (NASDAQ:ANGO) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.11 and traded as high as $9.06. AngioDynamics shares last traded at $8.91, with a volume of 218,279 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Canaccord Genuity Group dropped their price target on shares of AngioDynamics from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. HC Wainwright reiterated a “buy” rating and issued a $14.00 price target on shares of AngioDynamics in a research note on Tuesday, December 10th.

AngioDynamics Price Performance

The firm has a market cap of $362.05 million, a P/E ratio of -1.46 and a beta of 0.68. The firm’s 50-day moving average price is $7.56 and its 200 day moving average price is $7.13.

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

Insider Activity at AngioDynamics

In related news, CEO James C. Clemmer acquired 20,000 shares of AngioDynamics stock in a transaction that occurred on Monday, October 7th. The stock was acquired at an average price of $6.03 per share, for a total transaction of $120,600.00. Following the transaction, the chief executive officer now directly owns 681,582 shares of the company’s stock, valued at $4,109,939.46. This trade represents a 3.02 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders acquired a total of 22,568 shares of company stock valued at $135,847 in the last quarter. Insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On AngioDynamics

A number of hedge funds have recently added to or reduced their stakes in ANGO. Quarry LP increased its holdings in shares of AngioDynamics by 75.1% in the 2nd quarter. Quarry LP now owns 6,047 shares of the medical instruments supplier’s stock worth $37,000 after acquiring an additional 2,594 shares during the period. CWM LLC boosted its position in shares of AngioDynamics by 981.3% during the third quarter. CWM LLC now owns 9,732 shares of the medical instruments supplier’s stock worth $76,000 after buying an additional 8,832 shares during the period. Mackenzie Financial Corp acquired a new stake in AngioDynamics in the 2nd quarter valued at approximately $80,000. Wealth Enhancement Advisory Services LLC bought a new stake in AngioDynamics during the 3rd quarter valued at $86,000. Finally, AE Wealth Management LLC acquired a new position in AngioDynamics during the 2nd quarter worth $87,000. 89.43% of the stock is currently 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.