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Raymond James lowers AngioDynamics (NASDAQ:ANGO) price target to $22.00

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AngioDynamics (NASDAQ:ANGO – Get Rating) had its price target reduced by investment analysts Raymond James from $25.00 to $22.00 in a research note released on Friday, Benzinga reports. The company currently has a “Strong Buy” rating on the medical device supplier’s stock. Raymond James’ price target would suggest a potential upside of 42.12% from the company’s current price.

Separately, StockNews.com began covering AngioDynamics in a research note on Wednesday, October 12. They issued a “hold” rating on the stock.

AngioDynamics up 13.7%

AngioDynamics shares opened at $15.48 on Friday. The company has a market capitalization of $605.42 million, a P/E ratio of -18.65 and a beta of 0.66. The stock has a fifty-day simple moving average of $13.38 and a 200-day simple moving average of $17.91. AngioDynamics has a 12-month low of $11.71 and a 12-month high of $26.36. The company has a current ratio of 2.28, a quick ratio of 1.41 and a debt ratio of 0.12.

AngioDynamics (NASDAQ:ANGO – Get Rating) last announced its results on Thursday, October 6. The medical device supplier reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.04). AngioDynamics recorded a negative net margin of 10.16% and a negative return on equity of 0.42%. The company posted revenue of $81.50 million in the quarter, compared to $83.43 million expected by analysts. During the same quarter of the previous year, the company achieved EPS of ($0.02). The company’s revenue for the quarter increased 5.8% year over year. On average, sell-side analysts expect AngioDynamics to post 0.01 earnings per share for the current fiscal year.

Insider buying and selling

Separately, CEO James C. Clemmer purchased 10,000 shares of the company in a transaction on Monday, October 10. The shares were purchased at an average cost of $15.00 per share, for a total transaction of $150,000.00. Following the completion of the purchase, the CEO now directly owns 450,407 shares of the company, valued at $6,756,105. The acquisition was disclosed in a filing with the SEC, which is available on the SEC’s website. 4.90% of the shares are currently held by company insiders.

Institutional entries and exits

A number of institutional investors have recently changed their positions in ANGO. BlackRock Inc. increased its stake in AngioDynamics by 1.9% in the third quarter. BlackRock Inc. now owns 6,411,415 shares of the medical device supplier valued at $131,177,000 after acquiring an additional 117,895 shares during the period. Victory Capital Management Inc. increased its stake in AngioDynamics shares by 3.4% during the 2nd quarter. Victory Capital Management Inc. now owns 2,933,155 shares of the medical device supplier valued at $56,757,000 after buying 96,263 additional shares last quarter. Dimensional Fund Advisors LP increased its holdings in AngioDynamics by 1.7% in Q1. Dimensional Fund Advisors LP now owns 2,750,872 shares of the medical device supplier worth $59,255,000 after purchasing an additional 46,173 shares during the period. Vanguard Group Inc. increased its stake in AngioDynamics by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 2,589,323 shares of the medical device supplier valued at $52,977,000 after acquiring 38,898 additional shares during the period. Finally, Polar Capital Holdings Plc increased its stake in AngioDynamics by 21.6% during the 1st quarter. Polar Capital Holdings Plc now owns 1,882,375 shares of the medical device supplier valued at $40,546,000 after acquiring an additional 334,649 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s shares.

About AngioDynamics

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AngioDynamics, Inc designs, manufactures and sells various medical, surgical and diagnostic devices used by healthcare professionals for the treatment of peripheral vascular disease and vascular access; and for use in oncology and surgery in the United States and around the world.

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