AngioDynamics, Inc. (NASDAQ:ANGO) Sees Significant Increase in Short Interest

AngioDynamics, Inc. (NASDAQ:ANGO) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totaling 2,161,213 shares, a growth of 18.7% from the March 31st total of 1,821,431 shares. Currently, 5.6% of the shares of the company are short sold. Based on an average trading volume of 661,671 shares, the short-interest ratio is presently 3.3 days.

Analysts Set New Price Targets

ANGO has been the subject of several research reports. Zacks Research downgraded shares of AngioDynamics from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Freedom Capital upgraded shares of AngioDynamics to a “strong-buy” rating in a research report on Monday, April 6th. Canaccord Genuity Group cut their price objective on shares of AngioDynamics from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of AngioDynamics in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.67.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Essex Investment Management Co. LLC raised its position in AngioDynamics by 41.9% during the third quarter. Essex Investment Management Co. LLC now owns 327,396 shares of the medical instruments supplier’s stock valued at $3,657,000 after purchasing an additional 96,639 shares in the last quarter. Bastion Asset Management Inc. raised its position in AngioDynamics by 31.8% during the third quarter. Bastion Asset Management Inc. now owns 1,264,003 shares of the medical instruments supplier’s stock valued at $13,442,000 after purchasing an additional 304,960 shares in the last quarter. Divisadero Street Capital Management LP raised its position in AngioDynamics by 8.3% during the third quarter. Divisadero Street Capital Management LP now owns 3,678,125 shares of the medical instruments supplier’s stock valued at $41,085,000 after purchasing an additional 282,695 shares in the last quarter. Acuitas Investments LLC raised its position in AngioDynamics by 12.7% during the third quarter. Acuitas Investments LLC now owns 498,530 shares of the medical instruments supplier’s stock valued at $5,569,000 after purchasing an additional 56,300 shares in the last quarter. Finally, Weber Capital Management LLC ADV acquired a new position in AngioDynamics during the fourth quarter valued at approximately $17,978,000. 89.43% of the stock is owned by institutional investors.

AngioDynamics Stock Up 2.0%

Shares of ANGO traded up $0.22 during mid-day trading on Friday, hitting $11.16. 260,378 shares of the company’s stock were exchanged, compared to its average volume of 536,331. AngioDynamics has a 52 week low of $8.36 and a 52 week high of $13.99. The stock’s 50-day simple moving average is $10.81 and its 200-day simple moving average is $11.49. The firm has a market cap of $461.12 million, a price-to-earnings ratio of -14.88 and a beta of 0.43.

AngioDynamics (NASDAQ:ANGO) last announced its earnings results on Thursday, April 2nd. The medical instruments supplier reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.04. AngioDynamics had a negative net margin of 10.01% and a negative return on equity of 4.66%. The company had revenue of $78.42 million for the quarter, compared to analysts’ expectations of $76.77 million. Analysts forecast that AngioDynamics will post -0.19 earnings per share for the current fiscal year.

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.