AngioDynamics (NASDAQ:ANGO) Issues Earnings Results

AngioDynamics (NASDAQ:ANGO) released its earnings results on Thursday. The medical instruments supplier reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.03, MarketWatch Earnings reports. AngioDynamics had a positive return on equity of 0.41% and a negative net margin of 10.84%. The firm had revenue of $77.00 million during the quarter, compared to analyst estimates of $71.31 million. During the same period last year, the business posted $0.02 earnings per share. AngioDynamics’s revenue was up 9.7% compared to the same quarter last year. AngioDynamics updated its FY 2022 guidance to $0.000-$0.050 EPS and its FY22 guidance to $0.00-0.05 EPS.

NASDAQ ANGO opened at $25.94 on Friday. The firm’s fifty day moving average price is $26.77 and its 200 day moving average price is $25.25. AngioDynamics has a 12 month low of $10.17 and a 12 month high of $30.25. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.45 and a quick ratio of 1.60. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of -31.63 and a beta of 0.83.

An institutional investor recently raised its position in AngioDynamics stock. Morgan Stanley increased its position in AngioDynamics, Inc. (NASDAQ:ANGO) by 88.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 289,456 shares of the medical instruments supplier’s stock after purchasing an additional 135,460 shares during the period. Morgan Stanley owned 0.75% of AngioDynamics worth $7,853,000 at the end of the most recent quarter. 96.45% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently commented on ANGO shares. TheStreet raised AngioDynamics from a “d+” rating to a “c” rating in a research report on Tuesday, July 13th. Oppenheimer started coverage on shares of AngioDynamics in a report on Friday, August 20th. They set a “market perform” rating for the company. Raymond James raised their price objective on shares of AngioDynamics from $27.00 to $32.00 and gave the company a “strong-buy” rating in a report on Friday, July 9th. Finally, Canaccord Genuity increased their target price on AngioDynamics from $24.00 to $28.00 and gave the company a “hold” rating in a report on Wednesday, July 14th. Three investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $27.33.

About AngioDynamics

AngioDynamics, Inc is a medical device company, which engages in the development, manufacture, and sale of medical devices for vascular access, surgery, peripheral vascular disease, and oncology. It offers ablation systems, fluid management systems, vascular access, angiographic, drainage. thrombolytic, and venous products.

Read More: How Important is Technical Analysis of Stocks

Earnings History for AngioDynamics (NASDAQ:ANGO)

Receive News & Ratings for AngioDynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AngioDynamics and related companies with MarketBeat.com's FREE daily email newsletter.