AngioDynamics (ANGO) Trading Down 10.9% on Disappointing Earnings
AngioDynamics, Inc. (NASDAQ:ANGO) shares dropped 10.9% on Thursday following a weaker than expected earnings announcement. The stock traded as low as $20.75 and last traded at $21.60. Approximately 1,019,400 shares were traded during trading, an increase of 319% from the average daily volume of 243,545 shares. The stock had previously closed at $24.23.
The medical instruments supplier reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.02). AngioDynamics had a net margin of 4.74% and a return on equity of 5.21%. The business had revenue of $85.34 million for the quarter, compared to analysts’ expectations of $84.05 million. During the same quarter in the previous year, the company earned $0.13 earnings per share. The business’s quarterly revenue was down .1% on a year-over-year basis.
Several research firms have issued reports on ANGO. Zacks Investment Research upgraded shares of AngioDynamics from a “sell” rating to a “hold” rating in a research report on Tuesday, September 11th. BidaskClub upgraded shares of AngioDynamics from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 24th. Canaccord Genuity restated a “hold” rating and set a $20.00 price target on shares of AngioDynamics in a research report on Thursday, July 12th. Finally, Raymond James lowered shares of AngioDynamics from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 11th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $18.44.
The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.08 and a current ratio of 2.93. The firm has a market capitalization of $884.24 million, a price-to-earnings ratio of 29.08 and a beta of 0.93.
AngioDynamics Company Profile (NASDAQ:ANGO)
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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