AngioDynamics (NASDAQ:ANGO) Given New $16.00 Price Target at Canaccord Genuity Group

AngioDynamics (NASDAQ:ANGO) had its price target reduced by Canaccord Genuity Group from $18.00 to $16.00 in a report released on Monday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the medical instruments supplier’s stock.

Several other analysts also recently commented on ANGO. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AngioDynamics in a report on Wednesday, January 21st. Zacks Research downgraded shares of AngioDynamics from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Finally, Wall Street Zen downgraded shares of AngioDynamics from a “buy” rating to a “hold” rating in a report on Sunday, December 21st. Three equities research 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 MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $18.67.

AngioDynamics Price Performance

Shares of ANGO opened at $9.84 on Monday. The firm has a 50-day moving average of $10.84 and a 200-day moving average of $11.55. AngioDynamics has a one year low of $8.36 and a one year high of $13.99. The company has a market cap of $405.60 million, a PE ratio of -13.12 and a beta of 0.43.

AngioDynamics (NASDAQ:ANGO) last announced its quarterly earnings data on Thursday, April 2nd. The medical instruments supplier reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. The company had revenue of $78.42 million during the quarter, compared to the consensus estimate of $76.77 million. AngioDynamics had a negative net margin of 10.01% and a negative return on equity of 4.66%. Analysts expect that AngioDynamics will post -0.37 earnings per share for the current year.

Institutional Trading of AngioDynamics

Several hedge funds and other institutional investors have recently modified their holdings of ANGO. Divisadero Street Capital Management LP boosted its holdings in AngioDynamics by 253.7% in the 2nd quarter. Divisadero Street Capital Management LP now owns 3,395,430 shares of the medical instruments supplier’s stock valued at $33,683,000 after purchasing an additional 2,435,365 shares during the period. Kotler Kevin bought a new stake in AngioDynamics in the 4th quarter valued at about $21,997,000. Weber Capital Management LLC ADV bought a new stake in AngioDynamics in the 4th quarter valued at about $17,978,000. UBS Group AG boosted its holdings in AngioDynamics by 83.6% in the 3rd quarter. UBS Group AG now owns 1,102,488 shares of the medical instruments supplier’s stock valued at $12,315,000 after purchasing an additional 501,881 shares during the period. Finally, Millennium Management LLC boosted its holdings in AngioDynamics by 28.1% in the 3rd quarter. Millennium Management LLC now owns 1,793,152 shares of the medical instruments supplier’s stock valued at $20,030,000 after purchasing an additional 393,682 shares during the period. Institutional investors own 89.43% of the company’s stock.

About AngioDynamics

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.