AngioDynamics, Inc. (NASDAQ:ANGO) Sees Significant Decrease in Short Interest

AngioDynamics, Inc. (NASDAQ:ANGO) saw a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 1,000,000 shares, a decrease of 12.3% from the November 30th total of 1,140,000 shares. Based on an average daily volume of 582,000 shares, the short-interest ratio is presently 1.7 days.

Insiders Place Their Bets

In related news, CEO James C. Clemmer acquired 20,000 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was acquired at an average price of $6.03 per share, for a total transaction of $120,600.00. Following the purchase, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired 22,568 shares of company stock worth $135,847 over the last three months. Company insiders own 5.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Segall Bryant & Hamill LLC boosted its stake in shares of AngioDynamics by 142.7% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 911,443 shares of the medical instruments supplier’s stock worth $7,091,000 after purchasing an additional 535,958 shares during the last quarter. Millennium Management LLC lifted its position in AngioDynamics by 41.9% during the second quarter. Millennium Management LLC now owns 1,793,454 shares of the medical instruments supplier’s stock worth $10,850,000 after buying an additional 529,861 shares during the period. Systematic Financial Management LP grew its holdings in AngioDynamics by 14.3% in the 3rd quarter. Systematic Financial Management LP now owns 2,410,346 shares of the medical instruments supplier’s stock valued at $18,752,000 after buying an additional 300,785 shares during the period. First Eagle Investment Management LLC purchased a new stake in AngioDynamics in the second quarter valued at approximately $1,321,000. Finally, JPMorgan Chase & Co. raised its stake in AngioDynamics by 28.7% during the third quarter. JPMorgan Chase & Co. now owns 553,161 shares of the medical instruments supplier’s stock worth $4,304,000 after purchasing an additional 123,271 shares during the period. Institutional investors and hedge funds own 89.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on ANGO. Canaccord Genuity Group dropped their price objective 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. HC Wainwright reiterated a “buy” rating and issued a $14.00 price objective on shares of AngioDynamics in a research note on Tuesday, December 10th.

AngioDynamics Stock Up 1.6 %

Shares of NASDAQ:ANGO opened at $9.05 on Tuesday. AngioDynamics has a 52 week low of $5.26 and a 52 week high of $9.58. The company has a 50-day moving average price of $7.61 and a 200 day moving average price of $7.16. The company has a market cap of $367.74 million, a P/E ratio of -1.49 and a beta of 0.68.

AngioDynamics (NASDAQ:ANGO) last posted its quarterly earnings results on Thursday, October 3rd. The medical instruments supplier reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.04. The business had revenue of $67.50 million for 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 revenue for the quarter was down 14.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.12) EPS. Analysts expect that AngioDynamics will post -0.41 EPS for the current year.

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.