Short Interest in AngioDynamics, Inc. (NASDAQ:ANGO) Declines By 16.9%

AngioDynamics, Inc. (NASDAQ:ANGO) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 1,230,000 shares, a drop of 16.9% from the October 15th total of 1,480,000 shares. Based on an average daily trading volume, of 479,100 shares, the short-interest ratio is presently 2.6 days.

Wall Street Analysts Forecast Growth

ANGO has been the subject of a number of recent research reports. Canaccord Genuity Group lowered their price objective on AngioDynamics from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, October 4th. HC Wainwright reiterated a “buy” rating and issued a $14.00 price target on shares of AngioDynamics in a research note on Friday, October 4th.

AngioDynamics Price Performance

Shares of NASDAQ:ANGO opened at $6.81 on Friday. AngioDynamics has a 1 year low of $5.26 and a 1 year high of $8.25. The company has a market cap of $276.72 million, a P/E ratio of -1.12 and a beta of 0.67. The stock’s fifty day moving average price is $7.00 and its 200-day moving average price is $6.76.

AngioDynamics (NASDAQ:ANGO) last issued its quarterly earnings data on Thursday, October 3rd. The medical instruments supplier reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.04. AngioDynamics had a negative net margin of 83.95% and a negative return on equity of 5.86%. The company had revenue of $67.50 million for the quarter, compared to the consensus estimate of $67.93 million. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. The firm’s revenue for the quarter was down 14.2% compared to the same quarter last year. On average, sell-side analysts anticipate that AngioDynamics will post -0.41 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO James C. Clemmer acquired 20,000 shares of the stock in a transaction on Monday, October 7th. The stock was acquired at an average price of $6.03 per share, with a total value of $120,600.00. Following the completion of the transaction, the chief executive officer now owns 681,582 shares of the company’s stock, valued at $4,109,939.46. This represents a 3.02 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders purchased 22,568 shares of company stock worth $135,847 over the last three months. Company insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On AngioDynamics

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets boosted its position in AngioDynamics by 40.5% in the first quarter. BNP Paribas Financial Markets now owns 117,046 shares of the medical instruments supplier’s stock worth $687,000 after purchasing an additional 33,742 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in AngioDynamics by 44.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 15,627 shares of the medical instruments supplier’s stock valued at $92,000 after buying an additional 4,780 shares during the last quarter. Acadian Asset Management LLC raised its position in AngioDynamics by 11.9% in the first quarter. Acadian Asset Management LLC now owns 1,012,186 shares of the medical instruments supplier’s stock worth $5,940,000 after acquiring an additional 107,764 shares during the period. Price T Rowe Associates Inc. MD raised its position in AngioDynamics by 9.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 33,772 shares of the medical instruments supplier’s stock worth $199,000 after acquiring an additional 2,821 shares during the period. Finally, Bayesian Capital Management LP purchased a new position in shares of AngioDynamics during the 1st quarter worth $106,000. 89.43% of the stock is currently 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.