Short Interest in AngioDynamics, Inc. (NASDAQ:ANGO) Declines By 11.8%

AngioDynamics, Inc. (NASDAQ:ANGO) saw a significant decline in short interest in the month of 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 trading volume of 625,200 shares, the days-to-cover ratio is currently 1.4 days.

AngioDynamics Stock Performance

Shares of ANGO stock opened at $12.43 on Friday. AngioDynamics has a fifty-two week low of $5.26 and a fifty-two week high of $13.13. The stock’s fifty day moving average price is $8.75 and its two-hundred day moving average price is $7.65. The company has a market cap of $503.04 million, a PE ratio of -2.21 and a beta of 0.59.

AngioDynamics (NASDAQ:ANGO) last released its quarterly earnings data on Wednesday, January 8th. The medical instruments supplier reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.07. The business had revenue of $72.90 million for the quarter, compared to analyst estimates of $70.93 million. AngioDynamics had a negative return on equity of 7.26% and a negative net margin of 79.38%. AngioDynamics’s revenue was down .1% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) earnings per share. On average, equities analysts predict that AngioDynamics will post -0.36 EPS for the current fiscal year.

Insider Activity

In related news, SVP Warren Nighan, Jr. sold 4,060 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $12.31, for a total transaction of $49,978.60. Following the sale, the senior vice president now owns 41,817 shares of the company’s stock, valued at $514,767.27. This represents a 8.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AngioDynamics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP boosted its position in AngioDynamics by 75.1% in the second quarter. Quarry LP now owns 6,047 shares of the medical instruments supplier’s stock valued at $37,000 after buying an additional 2,594 shares in the last quarter. CWM LLC lifted its stake in shares of AngioDynamics by 981.3% in the 3rd quarter. CWM LLC now owns 9,732 shares of the medical instruments supplier’s stock valued at $76,000 after acquiring an additional 8,832 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of AngioDynamics during the 3rd quarter valued at $86,000. Mackenzie Financial Corp bought a new stake in AngioDynamics during the 2nd quarter worth $80,000. Finally, SG Americas Securities LLC acquired a new position in AngioDynamics in the 3rd quarter worth about $103,000. 89.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. HC Wainwright raised their price target on AngioDynamics from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Canaccord Genuity Group decreased their target price on shares of AngioDynamics from $13.00 to $12.00 and set a “buy” rating on the stock in a report 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.