AngioDynamics (NASDAQ:ANGO) Shares Gap Down - Here's What Happened

AngioDynamics, Inc. (NASDAQ:ANGO - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $12.30, but opened at $11.61. AngioDynamics shares last traded at $12.39, with a volume of 670,475 shares.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Canaccord Genuity Group dropped their price target on AngioDynamics from $13.00 to $12.00 and set a "buy" rating on the stock in a research report on Friday, October 4th. HC Wainwright upped their target price on AngioDynamics from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday.

AngioDynamics Price Performance

The company has a market capitalization of $506.30 million, a price-to-earnings ratio of -2.05 and a beta of 0.59. The business has a fifty day moving average price of $8.34 and a 200 day moving average price of $7.49.

AngioDynamics (NASDAQ:ANGO - Get Free Report) last released its earnings results on Wednesday, January 8th. The medical instruments supplier reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.07. The firm had revenue of $72.90 million during the quarter, compared to analysts' expectations of $70.93 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 .1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.05) EPS. As a group, sell-side analysts predict that AngioDynamics, Inc. will post -0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ANGO. Quarry LP increased its holdings in AngioDynamics by 40.9% in the 3rd quarter. Quarry LP now owns 8,518 shares of the medical instruments supplier's stock valued at $66,000 after buying an additional 2,471 shares during the period. CWM LLC increased its stake in AngioDynamics by 981.3% in the third quarter. CWM LLC now owns 9,732 shares of the medical instruments supplier's stock valued at $76,000 after acquiring an additional 8,832 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in AngioDynamics in the third quarter worth about $86,000. Charles Schwab Investment Management Inc. lifted its stake in AngioDynamics by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 326,820 shares of the medical instruments supplier's stock worth $2,543,000 after purchasing an additional 11,599 shares during the period. Finally, Mackenzie Financial Corp acquired a new stake in AngioDynamics during the second quarter valued at approximately $80,000. 89.43% of the stock is owned by institutional investors.

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.