AngioDynamics (NASDAQ:ANGO) Cut to Hold at Zacks Research

Zacks Research cut shares of AngioDynamics (NASDAQ:ANGO) from a strong-buy rating to a hold rating in a research note released on Monday,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of AngioDynamics in a report on Wednesday, January 21st. Wall Street Zen downgraded shares of AngioDynamics from a “buy” rating to a “hold” rating in a report on Sunday, December 21st. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $19.33.

AngioDynamics Stock Up 5.0%

Shares of ANGO opened at $11.94 on Monday. The business has a fifty day moving average of $10.86 and a 200 day moving average of $11.55. The company has a market cap of $492.17 million, a PE ratio of -17.82 and a beta of 0.43. AngioDynamics has a 52-week low of $8.36 and a 52-week high of $13.99.

Institutional Trading of AngioDynamics

A number of large investors have recently made changes to their positions in the stock. Essex Investment Management Co. LLC increased its stake in AngioDynamics by 41.9% in the 3rd quarter. Essex Investment Management Co. LLC now owns 327,396 shares of the medical instruments supplier’s stock worth $3,657,000 after buying an additional 96,639 shares during the period. Bastion Asset Management Inc. boosted its position in AngioDynamics by 31.8% in the 3rd quarter. Bastion Asset Management Inc. now owns 1,264,003 shares of the medical instruments supplier’s stock valued at $13,442,000 after buying an additional 304,960 shares during the period. Divisadero Street Capital Management LP grew its stake in AngioDynamics by 8.3% in the 3rd quarter. Divisadero Street Capital Management LP now owns 3,678,125 shares of the medical instruments supplier’s stock worth $41,085,000 after acquiring an additional 282,695 shares in the last quarter. Stonepine Capital Management LLC bought a new position in AngioDynamics in the 2nd quarter worth about $765,000. Finally, Acuitas Investments LLC increased its position in shares of AngioDynamics by 12.7% during the third quarter. Acuitas Investments LLC now owns 498,530 shares of the medical instruments supplier’s stock worth $5,569,000 after acquiring an additional 56,300 shares during the period. 89.43% of the stock is owned by hedge funds and other institutional investors.

AngioDynamics Company Profile

AngioDynamics, Inc is a medical technology company headquartered in Latham, New York, that develops, manufactures and markets a broad range of minimally invasive medical devices. The company’s products focus on three core areas: vascular access, peripheral vascular intervention and interventional oncology. Its solutions are designed to improve procedural outcomes, reduce complications and enhance patient comfort in hospital and outpatient settings.

In the vascular access segment, AngioDynamics offers a portfolio of devices including implanted ports, peripherally inserted central catheters (PICCs), hemodialysis catheters and specialty blood management products.