AngioDynamics (NASDAQ:ANGO) Share Price Crosses Above 200-Day Moving Average – Here’s Why

AngioDynamics, Inc. (NASDAQ:ANGO)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.11 and traded as high as $9.06. AngioDynamics shares last traded at $8.91, with a volume of 218,279 shares trading hands.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. HC Wainwright reiterated a “buy” rating and set a $14.00 price objective on shares of AngioDynamics in a research note on Tuesday, December 10th. Canaccord Genuity Group cut their price objective on AngioDynamics from $13.00 to $12.00 and set a “buy” rating for the company in a report on Friday, October 4th.

AngioDynamics Price Performance

The company has a market cap of $362.05 million, a P/E ratio of -1.46 and a beta of 0.68. The company has a fifty day simple moving average of $7.56 and a 200-day simple moving average of $7.13.

AngioDynamics (NASDAQ:ANGO) last announced its earnings results on Thursday, October 3rd. The medical instruments supplier reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.04. AngioDynamics had a negative return on equity of 5.86% and a negative net margin of 83.95%. The company had revenue of $67.50 million for the quarter, compared to analyst estimates of $67.93 million. During the same period in the previous year, the firm earned ($0.12) earnings per share. AngioDynamics’s revenue for the quarter was down 14.2% compared to the same quarter last year. On average, analysts anticipate that AngioDynamics, Inc. will post -0.41 EPS for the current year.

Insider Buying and Selling at AngioDynamics

In other AngioDynamics news, CEO James C. Clemmer bought 20,000 shares of AngioDynamics stock in a transaction dated Monday, October 7th. The stock was bought at an average price of $6.03 per share, for a total transaction of $120,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 681,582 shares of the company’s stock, valued at approximately $4,109,939.46. This trade represents a 3.02 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders bought 22,568 shares of company stock valued at $135,847. 5.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ANGO. Segall Bryant & Hamill LLC boosted its position in AngioDynamics by 142.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 911,443 shares of the medical instruments supplier’s stock worth $7,091,000 after acquiring an additional 535,958 shares during the period. Millennium Management LLC lifted its position in shares of AngioDynamics by 41.9% in the second quarter. Millennium Management LLC now owns 1,793,454 shares of the medical instruments supplier’s stock worth $10,850,000 after purchasing an additional 529,861 shares in the last quarter. Systematic Financial Management LP grew its position in AngioDynamics by 14.3% during the third quarter. Systematic Financial Management LP now owns 2,410,346 shares of the medical instruments supplier’s stock valued at $18,752,000 after purchasing an additional 300,785 shares in the last quarter. First Eagle Investment Management LLC acquired a new position in AngioDynamics in the 2nd quarter valued at approximately $1,321,000. Finally, JPMorgan Chase & Co. lifted its position in AngioDynamics by 28.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 553,161 shares of the medical instruments supplier’s stock worth $4,304,000 after buying an additional 123,271 shares in the last quarter. Hedge funds and other institutional investors own 89.43% of the company’s stock.

AngioDynamics Company Profile

AngioDynamics, Inc, a medical technology company, engages in the design, manufacture, and sale of medical, surgical, and diagnostic devices for the use in treating peripheral vascular disease, and oncology and surgical settings in the United States and internationally. The company offers Auryon Atherectomy system that is designed to deliver an optimized wavelength, pulse width, and amplitude to remove lesions while preserving vessel wall endothelium.