AngioDynamics (NASDAQ:ANGO) Shares Gap Up Following Better-Than-Expected Earnings

AngioDynamics, Inc. (NASDAQ:ANGO) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $11.07, but opened at $12.73. AngioDynamics shares last traded at $12.23, with a volume of 1,790,836 shares traded.

The medical instruments supplier reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. The company had revenue of $75.71 million during the quarter, compared to the consensus estimate of $72.69 million. AngioDynamics had a negative return on equity of 3.20% and a negative net margin of 11.62%.The firm’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.11) earnings per share. AngioDynamics has set its FY 2026 guidance at -0.330–0.230 EPS.

Analyst Ratings Changes

A number of equities analysts recently commented on ANGO shares. Lake Street Capital began coverage on AngioDynamics in a research note on Wednesday, July 16th. They issued a “buy” rating and a $24.00 price objective on the stock. Canaccord Genuity Group boosted their price target on shares of AngioDynamics from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. HC Wainwright reiterated a “buy” rating and set a $16.00 price objective on shares of AngioDynamics in a research report on Wednesday, July 16th. Finally, Wall Street Zen upgraded shares of AngioDynamics from a “hold” rating to a “buy” rating in a report on Saturday, August 16th. Three analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $19.00.

Hedge Funds Weigh In On AngioDynamics

Several large investors have recently added to or reduced their stakes in the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in AngioDynamics by 13.5% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 16,747 shares of the medical instruments supplier’s stock worth $166,000 after purchasing an additional 1,989 shares in the last quarter. Cerity Partners LLC grew its holdings in AngioDynamics by 22.0% during the first quarter. Cerity Partners LLC now owns 12,929 shares of the medical instruments supplier’s stock worth $121,000 after buying an additional 2,333 shares in the last quarter. Rhumbline Advisers raised its position in AngioDynamics by 4.3% in the 2nd quarter. Rhumbline Advisers now owns 61,337 shares of the medical instruments supplier’s stock valued at $608,000 after buying an additional 2,510 shares during the last quarter. Invesco Ltd. lifted its stake in AngioDynamics by 2.2% during the 2nd quarter. Invesco Ltd. now owns 122,596 shares of the medical instruments supplier’s stock valued at $1,216,000 after acquiring an additional 2,667 shares in the last quarter. Finally, State of Wyoming purchased a new position in AngioDynamics during the 2nd quarter worth $31,000. Institutional investors own 89.43% of the company’s stock.

AngioDynamics Stock Performance

The company’s 50 day moving average price is $9.89 and its 200-day moving average price is $9.74. The stock has a market cap of $482.23 million, a P/E ratio of -14.14 and a beta of 0.78.

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.