AngioDynamics (NASDAQ:ANGO) Shares Up 6.2% - Time to Buy?

AngioDynamics, Inc. (NASDAQ:ANGO - Get Free Report)'s share price rose 6.2% on Thursday . The stock traded as high as $12.91 and last traded at $12.93. Approximately 416,305 shares traded hands during trading, a decline of 66% from the average daily volume of 1,234,555 shares. The stock had previously closed at $12.17.

Analyst Upgrades and Downgrades

Several research firms recently commented on ANGO. HC Wainwright increased their price target on AngioDynamics from $14.00 to $15.00 and gave the company a "buy" rating in a report on Friday, January 10th. Canaccord Genuity Group cut their target price on AngioDynamics from $13.00 to $12.00 and set a "buy" rating for the company in a research note on Friday, October 4th.

AngioDynamics Stock Performance

The firm has a market cap of $516.80 million, a PE ratio of -2.27 and a beta of 0.59. The firm's 50 day moving average price is $8.54 and its two-hundred day moving average price is $7.57.

AngioDynamics (NASDAQ:ANGO - Get Free Report) last posted its earnings results on Wednesday, January 8th. The medical instruments supplier reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.07. The company had revenue of $72.90 million during the quarter, compared to analysts' expectations of $70.93 million. AngioDynamics had a negative return on equity of 7.26% and a negative net margin of 79.38%. The firm's quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.05) earnings per share. On average, analysts forecast that AngioDynamics, Inc. will post -0.36 earnings per share for the current year.

Institutional Investors Weigh In On AngioDynamics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP increased its holdings in AngioDynamics by 75.1% in the 2nd quarter. Quarry LP now owns 6,047 shares of the medical instruments supplier's stock valued at $37,000 after purchasing an additional 2,594 shares during the last quarter. CWM LLC grew its stake in shares of 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 buying an additional 8,832 shares in the last quarter. Mackenzie Financial Corp acquired a new stake in shares of AngioDynamics in the second quarter valued at $80,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of AngioDynamics in the 3rd quarter valued at $86,000. Finally, AE Wealth Management LLC acquired a new position in AngioDynamics during the 2nd quarter worth about $87,000. 89.43% of the stock is owned by hedge funds and other 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.

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