AngioDynamics (NASDAQ:ANGO) Stock Price Passes Above 200-Day Moving Average - Here's What Happened

AngioDynamics, Inc. (NASDAQ:ANGO - Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.68 and traded as high as $7.34. AngioDynamics shares last traded at $7.27, with a volume of 1,677,140 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. HC Wainwright reissued a "buy" rating and set a $14.00 price target on shares of AngioDynamics in a research report on Friday, October 4th. Canaccord Genuity Group dropped their target price on shares of AngioDynamics from $13.00 to $12.00 and set a "buy" rating on the stock in a research report on Friday, October 4th.

AngioDynamics Price Performance

The stock has a fifty day moving average of $7.17 and a 200 day moving average of $6.68. The stock has a market cap of $285.99 million, a price-to-earnings ratio of -1.48 and a beta of 0.65.

AngioDynamics (NASDAQ:ANGO - Get Free Report) last announced its quarterly earnings data on Thursday, October 3rd. The medical instruments supplier reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.04. The business had revenue of $67.50 million during the quarter, compared to analysts' expectations 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 period in the previous year, the business posted ($0.12) EPS. As a group, equities analysts expect that AngioDynamics, Inc. will post -0.41 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO James C. Clemmer bought 20,000 shares of the company's stock in a transaction that occurred on Monday, October 7th. The shares were purchased at an average cost of $6.03 per share, with a total value of $120,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 681,582 shares in the company, valued at approximately $4,109,939.46. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders purchased a total of 22,568 shares of company stock valued at $135,847 in the last quarter. 5.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ballentine Partners LLC purchased a new stake in shares of AngioDynamics during the 3rd quarter worth about $141,000. Assenagon Asset Management S.A. boosted its position in AngioDynamics by 7.2% during the third quarter. Assenagon Asset Management S.A. now owns 425,108 shares of the medical instruments supplier's stock worth $3,307,000 after purchasing an additional 28,499 shares in the last quarter. CWM LLC grew its holdings 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 purchasing an additional 8,832 shares during the period. SG Americas Securities LLC acquired a new stake in AngioDynamics in the third quarter valued at approximately $103,000. Finally, Quarry LP increased its position in shares of 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 buying an additional 2,594 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.