AngioDynamics, Inc. (NASDAQ:ANGO) Sees Large Increase in Short Interest

AngioDynamics, Inc. (NASDAQ:ANGO) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 1,470,000 shares, a growth of 78.6% from the January 15th total of 822,900 shares. Based on an average trading volume of 677,900 shares, the short-interest ratio is currently 2.2 days.

Insider Transactions at AngioDynamics

In other news, SVP Warren Nighan, Jr. sold 4,060 shares of the company’s 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 directly owns 41,817 shares of the company’s stock, valued at $514,767.27. This represents a 8.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.40% of the company’s stock.

Hedge Funds Weigh In On AngioDynamics

A number of hedge funds and other institutional investors have recently bought and sold shares of ANGO. Systematic Financial Management LP raised its stake in shares of AngioDynamics by 14.3% during the third quarter. Systematic Financial Management LP now owns 2,410,346 shares of the medical instruments supplier’s stock worth $18,752,000 after purchasing an additional 300,785 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in AngioDynamics by 10.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,488,667 shares of the medical instruments supplier’s stock worth $13,636,000 after purchasing an additional 135,007 shares during the period. Segall Bryant & Hamill LLC raised its stake in shares of AngioDynamics by 55.3% in the 4th quarter. Segall Bryant & Hamill LLC now owns 1,415,156 shares of the medical instruments supplier’s stock valued at $12,963,000 after acquiring an additional 503,713 shares during the period. Royce & Associates LP grew its holdings in AngioDynamics by 13.5% during the 4th quarter. Royce & Associates LP now owns 1,119,385 shares of the medical instruments supplier’s stock valued at $10,254,000 after purchasing an additional 133,312 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in AngioDynamics by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 974,302 shares of the medical instruments supplier’s stock worth $8,927,000 after acquiring an additional 13,535 shares in the last quarter. 89.43% of the stock is currently owned by hedge funds and other institutional investors.

AngioDynamics Stock Down 0.6 %

Shares of NASDAQ ANGO traded down $0.07 during mid-day trading on Friday, reaching $10.47. 26,903 shares of the company were exchanged, compared to its average volume of 854,380. The firm has a 50-day moving average of $10.49 and a 200 day moving average of $8.32. AngioDynamics has a 1 year low of $5.26 and a 1 year high of $13.50. The stock has a market cap of $423.52 million, a price-to-earnings ratio of -1.86 and a beta of 0.60.

AngioDynamics (NASDAQ:ANGO) last announced its quarterly earnings data on Wednesday, January 8th. The medical instruments supplier reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.07. AngioDynamics had a negative return on equity of 7.26% and a negative net margin of 79.38%. The business had revenue of $72.90 million for the quarter, compared to analyst estimates of $70.93 million. During the same period in the prior year, the company earned ($0.05) earnings per share. The company’s revenue was down .1% on a year-over-year basis. On average, equities analysts forecast that AngioDynamics will post -0.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright upped their price objective on AngioDynamics from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, January 10th.

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.