Short Interest in AngioDynamics, Inc. (NASDAQ:ANGO) Rises By 31.0%

AngioDynamics, Inc. (NASDAQ:ANGO) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 1,480,000 shares, a growth of 31.0% from the September 30th total of 1,130,000 shares. Based on an average daily trading volume, of 507,600 shares, the days-to-cover ratio is presently 2.9 days.

Insider Activity

In other news, CEO James C. Clemmer bought 20,000 shares of the stock in a transaction on Monday, October 7th. The stock was purchased at an average price of $6.03 per share, for a total transaction of $120,600.00. Following the acquisition, the chief executive officer now owns 681,582 shares in the company, valued at approximately $4,109,939.46. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders purchased 22,568 shares of company stock worth $135,847 over the last quarter. 5.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AngioDynamics

Hedge funds have recently added to or reduced their stakes in the business. Systematic Financial Management LP raised its position in AngioDynamics by 8.4% during the 2nd quarter. Systematic Financial Management LP now owns 2,109,561 shares of the medical instruments supplier’s stock worth $12,763,000 after purchasing an additional 162,972 shares during the last quarter. Millennium Management LLC increased its stake in shares of AngioDynamics by 41.9% in the second quarter. Millennium Management LLC now owns 1,793,454 shares of the medical instruments supplier’s stock valued at $10,850,000 after buying an additional 529,861 shares during the period. Acadian Asset Management LLC raised its position in shares of AngioDynamics by 11.9% during 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 last quarter. Western Standard LLC lifted its stake in shares of AngioDynamics by 878.5% in the first quarter. Western Standard LLC now owns 523,393 shares of the medical instruments supplier’s stock worth $3,072,000 after acquiring an additional 469,906 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in AngioDynamics by 7.2% in the third quarter. Assenagon Asset Management S.A. now owns 425,108 shares of the medical instruments supplier’s stock valued at $3,307,000 after acquiring an additional 28,499 shares during the last quarter. 89.43% of the stock is currently owned by institutional investors and hedge funds.

AngioDynamics Stock Down 5.1 %

ANGO stock opened at $6.73 on Monday. AngioDynamics has a 52 week low of $5.26 and a 52 week high of $8.25. The business has a 50-day simple moving average of $7.15 and a 200 day simple moving average of $6.68. The company has a market cap of $269.57 million, a PE ratio of -1.39 and a beta of 0.65.

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

Wall Street Analyst Weigh In

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

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.