AngioDynamics, Inc. (NASDAQ:ANGO) Short Interest Down 11.8% in December

AngioDynamics, Inc. (NASDAQ:ANGO) was the recipient of a large decline in short interest in December. As of December 31st, there was short interest totalling 882,000 shares, a decline of 11.8% from the December 15th total of 1,000,000 shares. Based on an average daily trading volume, of 625,200 shares, the days-to-cover ratio is currently 1.4 days.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. HC Wainwright raised their target price on shares of AngioDynamics from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Canaccord Genuity Group lowered their target price on AngioDynamics from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, October 4th.

AngioDynamics Stock Down 2.5 %

Shares of ANGO stock traded down $0.32 during trading hours on Friday, reaching $12.45. The company’s stock had a trading volume of 212,057 shares, compared to its average volume of 1,199,643. AngioDynamics has a fifty-two week low of $5.26 and a fifty-two week high of $13.13. The company has a market capitalization of $503.85 million, a price-to-earnings ratio of -2.20 and a beta of 0.59. The firm’s 50 day simple moving average is $8.65 and its 200-day simple moving average is $7.60.

AngioDynamics (NASDAQ:ANGO) last released its earnings results on Wednesday, January 8th. The medical instruments supplier reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.07. The firm had revenue of $72.90 million for 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 business’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.05) earnings per share. Sell-side analysts predict that AngioDynamics will post -0.36 earnings per share for the current year.

Institutional Trading of AngioDynamics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP increased its position 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 acquiring an additional 2,594 shares during the period. CWM LLC lifted 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 buying an additional 8,832 shares during the period. Mackenzie Financial Corp bought a new stake in AngioDynamics during the second quarter valued at $80,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of AngioDynamics in the 3rd quarter worth about $86,000. Finally, AE Wealth Management LLC acquired a new position in shares of AngioDynamics in the 2nd quarter valued at about $87,000. 89.43% of the stock is currently owned by institutional investors.

About AngioDynamics

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.