AngioDynamics, Inc. (NASDAQ:ANGO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday, July 20th.
According to Zacks, “AngioDynamics reported a mixed fourth quarter of fiscal 2017, wherein adjusted earnings beat the Zacks Consensus Estimate while revenues missed the same. The year-over-year decline at the company’s Peripheral Vascular, Vascular Access and Oncology & Surgery business segments marred revenues. Furthermore, the company expects earnings to fall sequentially in FY18. Lackluster performance by the oncology segment was primarily due to market withdrawal of the company’s flagship Acculis Microwave Tissue Ablation System, which also marred international sales. AngioDynamics has a high outstanding debt level at the end of the fourth quarter. This is likely to impose certain operating and financial restrictions, limiting the company’s core business strategies. Over the last one year, AngioDynamics has underperformed the broader industry in terms of price. However, growth in the core Angiographic Catheter business holds promise.”
Other equities analysts have also recently issued reports about the company. Craig Hallum set a $20.00 price target on AngioDynamics and gave the stock a “buy” rating in a report on Saturday, April 1st. Cantor Fitzgerald increased their price target on AngioDynamics from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, July 4th. Barclays PLC lowered their price target on AngioDynamics from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Wednesday, July 19th. Finally, Canaccord Genuity reiterated a “hold” rating and set a $17.00 price target on shares of AngioDynamics in a report on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. AngioDynamics has an average rating of “Hold” and a consensus price target of $18.50.
Shares of AngioDynamics (NASDAQ:ANGO) opened at 16.40 on Thursday. AngioDynamics has a 52 week low of $14.80 and a 52 week high of $18.18. The stock has a market cap of $601.13 million, a PE ratio of 86.32 and a beta of 1.15. The stock has a 50 day moving average of $16.21 and a 200-day moving average of $16.17.
AngioDynamics (NASDAQ:ANGO) last released its quarterly earnings results on Tuesday, July 18th. The medical instruments supplier reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The business had revenue of $86.90 million during the quarter, compared to analysts’ expectations of $90.72 million. AngioDynamics had a return on equity of 5.19% and a net margin of 2.00%. The company’s revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.19 EPS. Equities research analysts predict that AngioDynamics will post $0.67 earnings per share for the current fiscal year.
TRADEMARK VIOLATION WARNING: This report was originally published by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this report on another website, it was illegally stolen and republished in violation of US and international trademark & copyright laws. The original version of this report can be accessed at https://stocknewstimes.com/2017/08/10/angiodynamics-inc-ango-stock-rating-lowered-by-zacks-investment-research-updated-updated.html.
In other news, CEO James C. Clemmer bought 5,000 shares of the stock in a transaction that occurred on Friday, July 21st. The stock was bought at an average cost of $15.79 per share, for a total transaction of $78,950.00. Following the acquisition, the chief executive officer now directly owns 86,683 shares of the company’s stock, valued at approximately $1,368,724.57. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James C. Clemmer bought 20,000 shares of the stock in a transaction that occurred on Thursday, July 20th. The shares were purchased at an average price of $15.64 per share, with a total value of $312,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 86,683 shares in the company, valued at $1,355,722.12. The disclosure for this purchase can be found here. Insiders have purchased a total of 25,316 shares of company stock valued at $396,806 over the last 90 days. 1.88% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. Swiss National Bank boosted its position in shares of AngioDynamics by 9.3% in the second quarter. Swiss National Bank now owns 61,000 shares of the medical instruments supplier’s stock valued at $989,000 after buying an additional 5,200 shares during the last quarter. Chicago Equity Partners LLC boosted its position in shares of AngioDynamics by 87.7% in the second quarter. Chicago Equity Partners LLC now owns 49,090 shares of the medical instruments supplier’s stock valued at $796,000 after buying an additional 22,930 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of AngioDynamics by 9.8% in the second quarter. Principal Financial Group Inc. now owns 278,196 shares of the medical instruments supplier’s stock valued at $4,510,000 after buying an additional 24,722 shares during the last quarter. Neuberger Berman Group LLC bought a new position in shares of AngioDynamics during the second quarter valued at about $311,000. Finally, Airain ltd bought a new position in shares of AngioDynamics during the second quarter valued at about $320,000. Institutional investors and hedge funds own 85.84% of the company’s stock.
AngioDynamics Company Profile
AngioDynamics, Inc designs, manufactures and sells a range of medical, surgical and diagnostic devices used by professional healthcare providers for vascular access, for the treatment of peripheral vascular disease and for use in oncology and surgical settings. The Company’s devices are used in minimally invasive, image-guided procedures.
Get a free copy of the Zacks research report on AngioDynamics (ANGO)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AngioDynamics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AngioDynamics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
