AngioDynamics (ANGO) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of AngioDynamics (NASDAQ:ANGO) from a buy rating to a hold rating in a research report released on Wednesday.

According to Zacks, “AngioDynamics exited the fiscal second quarter on a solid note, with earnings and revenues beating estimates. The company continues to gain from its core Oncology business unit, courtesy of strong NanoKnife business. Per management, Fluid Management, AngioVac and Ports and Dialysis products saw growth in the quarter. Recent acquisitions of BioSentry and RadiaDyne are contributing to results as well. Targeted investments in the thrombus management portfolio indicate focus on innovation. Significant expansion in gross and operating margins is an added positive. The company retained its fiscal 2019 outlook. On the flip side, headwinds in the company’s Venous Insufficiency business and sluggish show by the radiofrequency ablation products raise concerns. However, management stated that declines in Venous business line are gradually reducing. Additionally, PICCs revenues dropped in the quarter.”

Several other equities research analysts have also commented on the company. BidaskClub lowered AngioDynamics from a strong-buy rating to a buy rating in a research note on Wednesday, March 6th. Canaccord Genuity boosted their price target on AngioDynamics from $20.00 to $23.00 and gave the stock a hold rating in a research note on Monday, January 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $21.11.

Shares of ANGO opened at $21.75 on Wednesday. AngioDynamics has a twelve month low of $15.26 and a twelve month high of $24.49. The company has a market capitalization of $807.73 million, a price-to-earnings ratio of 29.39 and a beta of 0.75. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.86 and a current ratio of 2.88.

AngioDynamics (NASDAQ:ANGO) last announced its quarterly earnings data on Friday, January 4th. The medical instruments supplier reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.01. AngioDynamics had a return on equity of 5.85% and a net margin of 5.10%. The company had revenue of $91.50 million for the quarter, compared to analyst estimates of $89.24 million. During the same quarter in the previous year, the company earned $0.16 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. Analysts expect that AngioDynamics will post 0.86 EPS for the current year.

Large investors have recently made changes to their positions in the company. Financial Gravity Companies Inc. purchased a new stake in shares of AngioDynamics during the 4th quarter worth approximately $43,000. Quantamental Technologies LLC purchased a new stake in shares of AngioDynamics during the 4th quarter worth approximately $67,000. Advisor Group Inc. boosted its stake in shares of AngioDynamics by 21.4% during the 4th quarter. Advisor Group Inc. now owns 3,405 shares of the medical instruments supplier’s stock worth $68,000 after acquiring an additional 601 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of AngioDynamics by 28.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,315 shares of the medical instruments supplier’s stock worth $107,000 after acquiring an additional 1,181 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new stake in AngioDynamics in the 4th quarter valued at approximately $113,000. 99.90% of the stock is currently owned by institutional investors and hedge funds.

AngioDynamics Company Profile

AngioDynamics, Inc designs, manufactures, and sells various medical, surgical, and diagnostic devices for the treatment of peripheral vascular disease, vascular access, and for use in oncology and surgical settings in the United States and internationally. The company provides AngioVac venous drainage system that includes venous drainage cannula for the removal of fresh, soft thrombi, or emboli during extracorporeal bypass; and cardiopulmonary bypass circuit for use in procedures during extracorporeal circulatory support.

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