AngioDynamics (NASDAQ:ANGO) Shares Cross Above 200 Day Moving Average – Should You Sell?

AngioDynamics, Inc. (NASDAQ:ANGO) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.73 and traded as high as $7.49. AngioDynamics shares last traded at $7.44, with a volume of 435,277 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have weighed in on ANGO shares. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 target price on shares of AngioDynamics in a research note on Friday, October 4th. Canaccord Genuity Group decreased their price objective on AngioDynamics from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, October 4th.

AngioDynamics Stock Up 3.3 %

The firm has a market capitalization of $302.29 million, a price-to-earnings ratio of -1.22 and a beta of 0.67. The company’s fifty day moving average is $7.03 and its two-hundred day moving average is $6.73.

AngioDynamics (NASDAQ:ANGO) last announced its quarterly earnings data on Thursday, October 3rd. The medical instruments supplier reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $67.50 million during the quarter, compared to analysts’ expectations of $67.93 million. During the same period in the previous year, the firm earned ($0.12) earnings per share. The firm’s quarterly revenue was down 14.2% compared to the same quarter last year. On average, equities research analysts expect that AngioDynamics, Inc. will post -0.41 EPS for the current year.

Insider Activity at AngioDynamics

In other news, CEO James C. Clemmer acquired 20,000 shares of the firm’s stock in a transaction that occurred 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 completion of the acquisition, the chief executive officer now owns 681,582 shares in the company, valued at $4,109,939.46. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have bought 22,568 shares of company stock worth $135,847 in the last ninety days. Company insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On AngioDynamics

Several hedge funds have recently bought and sold shares of ANGO. Systematic Financial Management LP raised its stake 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 buying an additional 162,972 shares during the period. Millennium Management LLC increased its holdings 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 worth $10,850,000 after acquiring an additional 529,861 shares in the last quarter. 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 purchasing an additional 107,764 shares during the period. Royce & Associates LP lifted its holdings in shares of AngioDynamics by 10.8% during the 3rd quarter. Royce & Associates LP now owns 986,073 shares of the medical instruments supplier’s stock valued at $7,672,000 after purchasing an additional 96,138 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its position in shares of AngioDynamics by 142.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 911,443 shares of the medical instruments supplier’s stock valued at $7,091,000 after purchasing an additional 535,958 shares during the period. 89.43% of the stock is currently owned by institutional investors and hedge funds.

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.