AngioDynamics (NASDAQ:ANGO – Get Rating) issued an update on its FY23 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.01-0.06 for the period, compared to the consensus estimate of $0.01. The company issued revenue guidance of $342-346 million, compared to the consensus revenue estimate of $342.48 million. AngioDynamics also updated its FY 2023 guidance to $0.01-$0.06 EPS.
Wall Street Analysts Forecast Growth
ANGO has been the topic of several recent research reports. Raymond James cut their target price on AngioDynamics from $25.00 to $22.00 and set a strong-buy rating on the stock in a report on Friday. StockNews.com started coverage on AngioDynamics in a research note on Wednesday, October 12th. They issued a hold rating on the stock.
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AngioDynamics Stock Performance
NASDAQ:ANGO opened at $15.17 on Friday. The firm has a market capitalization of $593.27 million, a PE ratio of -18.28 and a beta of 0.66. AngioDynamics has a 1 year low of $11.71 and a 1 year high of $24.87. The company has a current ratio of 2.28, a quick ratio of 1.41 and a debt-to-equity ratio of 0.12. The firm's fifty day simple moving average is $13.41 and its 200 day simple moving average is $17.89.
AngioDynamics (NASDAQ:ANGO – Get Rating) last issued its quarterly earnings results on Thursday, October 6th. The medical instruments supplier reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.04). The business had revenue of $81.50 million during the quarter, compared to analyst estimates of $83.43 million. AngioDynamics had a negative net
margin of 10.16% and a negative return on equity of 0.42%. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.02) earnings per share. On average, sell-side analysts anticipate that AngioDynamics will post 0.01 EPS for the current year.
Insider Activity at AngioDynamics
In other AngioDynamics news, CEO James C. Clemmer purchased 10,000 shares of the company's stock in a transaction on Monday, October 10th. The shares were bought at an average cost of $15.00 per share, with a total value of $150,000.00. Following the transaction, the chief executive officer now directly owns 450,407 shares in the company, valued at approximately $6,756,105. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.90% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On AngioDynamics
Several hedge funds and other institutional investors have recently modified their holdings of ANGO. Point72 Hong Kong Ltd bought a new stake in AngioDynamics in the 1st quarter valued at $36,000. Captrust Financial Advisors raised its position in shares of AngioDynamics by 95.1% during the first quarter. Captrust Financial Advisors now owns 2,883 shares of the medical instruments supplier's stock valued at $62,000 after buying an additional 1,405 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of AngioDynamics by 187.1% in the third quarter. Tower Research Capital LLC TRC now owns 4,442 shares of the medical instruments supplier's stock valued at $91,000 after buying an additional 2,895 shares during the period. UBS Group AG lifted its stake in shares of AngioDynamics by 764.3% in the third quarter. UBS Group AG now owns 5,670 shares of the medical instruments supplier's stock valued at $116,000 after buying an additional 5,014 shares during the period. Finally, Jane Street Group LLC acquired a new stake in AngioDynamics during the third quarter worth about $206,000. Institutional investors and hedge funds own 94.94% of the company's stock.
About AngioDynamics
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AngioDynamics, Inc designs, manufactures, and sells various medical, surgical, and diagnostic devices used by professional healthcare providers for the treatment of peripheral vascular disease and vascular access; and for use in oncology and surgical settings in the United States and internationally.
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