AngioDynamics (NASDAQ:ANGO) Given a $17.00 Price Target by Canaccord Genuity Group Analysts

AngioDynamics (NASDAQ:ANGO) has been assigned a $17.00 target price by stock analysts at Canaccord Genuity Group in a report released on Wednesday, MarketBeat reports. The brokerage currently has a “buy” rating on the medical instruments supplier’s stock. Canaccord Genuity Group’s price target would suggest a potential upside of 94.51% from the stock’s current price.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price target (up previously from $15.00) on shares of AngioDynamics in a research report on Monday, April 7th.

AngioDynamics Trading Up 1.6%

NASDAQ ANGO opened at $8.74 on Wednesday. The stock has a market cap of $354.93 million, a PE ratio of -10.53 and a beta of 0.60. AngioDynamics has a twelve month low of $5.83 and a twelve month high of $13.50. The stock has a fifty day simple moving average of $9.88 and a 200-day simple moving average of $10.07.

AngioDynamics (NASDAQ:ANGO) last posted its earnings results on Tuesday, July 15th. The medical instruments supplier reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.09. AngioDynamics had a negative return on equity of 3.20% and a negative net margin of 11.62%. The firm had revenue of $80.16 million for the quarter, compared to analyst estimates of $74.26 million. During the same quarter in the prior year, the company earned ($0.06) EPS. AngioDynamics’s revenue was up 13.0% on a year-over-year basis. Research analysts predict that AngioDynamics will post -0.37 EPS for the current year.

Institutional Investors Weigh In On AngioDynamics

Several hedge funds and other institutional investors have recently made changes to their positions in ANGO. Quinn Opportunity Partners LLC acquired a new stake in shares of AngioDynamics during the 4th quarter worth about $92,000. ProShare Advisors LLC acquired a new stake in shares of AngioDynamics during the 4th quarter worth about $100,000. Graham Capital Management L.P. acquired a new stake in shares of AngioDynamics during the 4th quarter worth about $106,000. OneDigital Investment Advisors LLC raised its position in shares of AngioDynamics by 14.0% during the 4th quarter. OneDigital Investment Advisors LLC now owns 12,137 shares of the medical instruments supplier’s stock worth $111,000 after acquiring an additional 1,490 shares in the last quarter. Finally, Cerity Partners LLC raised its position in shares of AngioDynamics by 22.0% during the 1st quarter. Cerity Partners LLC now owns 12,929 shares of the medical instruments supplier’s stock worth $121,000 after acquiring an additional 2,333 shares in the last quarter. Institutional investors and hedge funds own 89.43% of the company’s stock.

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.