AngioDynamics (NASDAQ:ANGO) Share Price Passes Above 200 Day Moving Average - What's Next?

AngioDynamics, Inc. (NASDAQ:ANGO - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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 traded.

Wall Street Analysts Forecast Growth

ANGO has been the subject of several research reports. Canaccord Genuity Group lowered their price objective on shares of AngioDynamics from $13.00 to $12.00 and set a "buy" rating for the company in a research report on Friday, October 4th. HC Wainwright restated a "buy" rating and issued a $14.00 price objective on shares of AngioDynamics in a research report on Tuesday, December 10th.

AngioDynamics Stock Performance

The company has a market cap of $362.05 million, a price-to-earnings ratio of -1.46 and a beta of 0.68. The firm's 50-day moving average price is $7.56 and its 200 day moving average price is $7.13.

AngioDynamics (NASDAQ:ANGO - Get Free Report) last released its earnings results on Thursday, October 3rd. The medical instruments supplier reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.15) by $0.04. The firm had revenue of $67.50 million during the quarter, compared to analyst estimates of $67.93 million. AngioDynamics had a negative net margin of 83.95% and a negative return on equity of 5.86%. The business's quarterly revenue was down 14.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.12) EPS. As a group, equities research analysts predict that AngioDynamics, Inc. will post -0.41 EPS for the current fiscal year.

Insider Buying and Selling at AngioDynamics

In other news, CEO James C. Clemmer purchased 20,000 shares of AngioDynamics stock in a transaction dated Monday, October 7th. The shares were bought at an average cost of $6.03 per share, with a total value of $120,600.00. Following the completion of the transaction, the chief executive officer now directly owns 681,582 shares in the company, valued at $4,109,939.46. This trade represents a 3.02 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders have purchased 22,568 shares of company stock valued at $135,847. 5.40% of the stock is currently owned by company insiders.

Institutional Trading of AngioDynamics

Several hedge funds have recently added to or reduced their stakes in ANGO. Quarry LP grew its stake in AngioDynamics by 75.1% in the second quarter. Quarry LP now owns 6,047 shares of the medical instruments supplier's stock valued at $37,000 after acquiring an additional 2,594 shares during the period. CWM LLC lifted its holdings in shares of AngioDynamics by 981.3% during the 3rd quarter. CWM LLC now owns 9,732 shares of the medical instruments supplier's stock valued at $76,000 after purchasing an additional 8,832 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of AngioDynamics in the 3rd quarter valued at approximately $86,000. SG Americas Securities LLC bought a new stake in AngioDynamics during the 3rd quarter worth approximately $103,000. Finally, Mackenzie Financial Corp acquired a new stake in AngioDynamics during the 2nd quarter worth approximately $80,000. Institutional investors and hedge funds 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.