AngioDynamics (NASDAQ:ANGO) Shares Gap Up on Insider Buying Activity


Shares of AngioDynamics, Inc. (NASDAQ:ANGO) gapped up before the market opened on Thursday after an insider bought additional shares in the company. The stock had previously closed at $22.08, but opened at $23.47. AngioDynamics shares last traded at $23.87, with a volume of 2,394 shares changing hands. Specifically, SVP Dave Helsel sold 3,494 shares of the firm’s stock in a transaction that occurred on Wednesday, October 20th. The stock was sold at an average price of $27.97, for a total transaction of $97,727.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Scott Centea sold 12,000 shares of the stock in a transaction that occurred on Friday, October 15th. The stock was sold at an average price of $27.92, for a total value of $335,040.00. The disclosure for this sale can be found here. Company insiders own 4.80% of the company’s stock.

ANGO has been the subject of several recent research reports. Zacks Investment Research cut AngioDynamics from a “strong-buy” rating to a “hold” rating and set a $27.00 price target for the company. in a research report on Wednesday, December 1st. upgraded AngioDynamics from a “hold” rating to a “buy” rating and boosted their target price for the stock from $28.00 to $37.00 in a research report on Friday, October 15th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, AngioDynamics has an average rating of “Buy” and an average target price of $32.00.

The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.54 and a current ratio of 2.43. The stock’s fifty day moving average is $27.25 and its 200 day moving average is $27.08. The stock has a market cap of $914.57 million, a P/E ratio of -24.11 and a beta of 0.89.

AngioDynamics (NASDAQ:ANGO) last issued its quarterly earnings data on Wednesday, January 5th. The medical instruments supplier reported ($0.02) earnings per share (EPS) for the quarter. AngioDynamics had a negative net margin of 12.64% and a negative return on equity of 0.24%. The business had revenue of $78.30 million for the quarter, compared to analysts’ expectations of $77.90 million. During the same period in the previous year, the business earned $0.01 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. Equities research analysts predict that AngioDynamics, Inc. will post -0.01 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Hong Kong Ltd boosted its position in AngioDynamics by 38.8% in the 3rd quarter. Point72 Hong Kong Ltd now owns 1,728 shares of the medical instruments supplier’s stock valued at $45,000 after buying an additional 483 shares during the period. HighTower Advisors LLC lifted its position in shares of AngioDynamics by 2.7% during the 3rd quarter. HighTower Advisors LLC now owns 19,871 shares of the medical instruments supplier’s stock worth $516,000 after purchasing an additional 519 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of AngioDynamics by 0.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,340 shares of the medical instruments supplier’s stock worth $2,234,000 after purchasing an additional 707 shares during the last quarter. First Mercantile Trust Co. lifted its position in shares of AngioDynamics by 25.4% during the 3rd quarter. First Mercantile Trust Co. now owns 4,626 shares of the medical instruments supplier’s stock worth $120,000 after purchasing an additional 937 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in shares of AngioDynamics by 7.6% during the 3rd quarter. Louisiana State Employees Retirement System now owns 18,500 shares of the medical instruments supplier’s stock worth $480,000 after purchasing an additional 1,300 shares during the last quarter. 93.45% of the stock is currently owned by institutional investors and hedge funds.

About AngioDynamics (NASDAQ:ANGO)

AngioDynamics, Inc is a medical device company, which engages in the development, manufacture, and sale of medical devices for vascular access, surgery, peripheral vascular disease, and oncology. It offers ablation systems, fluid management systems, vascular access, angiographic, drainage. thrombolytic, and venous products.

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