Lake Street Capital Begins Coverage on AngioDynamics (NASDAQ:ANGO)

Equities researchers at Lake Street Capital began coverage on shares of AngioDynamics (NASDAQ:ANGO) in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $24.00 price target on the medical instruments supplier’s stock. Lake Street Capital’s price objective points to a potential upside of 174.60% from the stock’s current price.

Other equities analysts have also issued reports about the stock. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 target price on shares of AngioDynamics in a research note on Wednesday. Canaccord Genuity Group set a $17.00 target price on shares of AngioDynamics and gave the stock a “buy” rating in a research note on Wednesday.

AngioDynamics Stock Up 1.6%

ANGO opened at $8.74 on Wednesday. AngioDynamics has a 12 month low of $5.83 and a 12 month high of $13.50. The company has a fifty day simple moving average of $9.88 and a 200 day simple moving average of $10.07. The stock has a market cap of $354.93 million, a P/E ratio of -10.53 and a beta of 0.60.

AngioDynamics (NASDAQ:ANGO) last released its quarterly earnings data on Tuesday, July 15th. The medical instruments supplier reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.09. AngioDynamics had a negative net margin of 11.62% and a negative return on equity of 3.20%. The business had revenue of $80.16 million during the quarter, compared to analysts’ expectations of $74.26 million. During the same quarter in the prior year, the company earned ($0.06) EPS. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. On average, equities research analysts expect that AngioDynamics will post -0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AngioDynamics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Systematic Financial Management LP boosted its stake in AngioDynamics by 4.6% in the 4th quarter. Systematic Financial Management LP now owns 2,521,065 shares of the medical instruments supplier’s stock worth $23,093,000 after purchasing an additional 110,719 shares during the period. Vanguard Group Inc. boosted its stake in shares of AngioDynamics by 8.7% during the 1st quarter. Vanguard Group Inc. now owns 2,492,563 shares of the medical instruments supplier’s stock worth $23,405,000 after buying an additional 199,944 shares during the last quarter. Armistice Capital LLC boosted its stake in shares of AngioDynamics by 140.1% during the 1st quarter. Armistice Capital LLC now owns 2,094,000 shares of the medical instruments supplier’s stock worth $19,663,000 after buying an additional 1,222,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of AngioDynamics by 10.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,488,667 shares of the medical instruments supplier’s stock worth $13,636,000 after buying an additional 135,007 shares during the last quarter. Finally, Segall Bryant & Hamill LLC boosted its stake in shares of AngioDynamics by 55.3% during the 4th quarter. Segall Bryant & Hamill LLC now owns 1,415,156 shares of the medical instruments supplier’s stock worth $12,963,000 after buying an additional 503,713 shares during the last quarter. 89.43% of the stock is owned by institutional investors and hedge funds.

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.