Insider Buying: AngioDynamics, Inc. (NASDAQ:ANGO) CEO Acquires $120,600.00 in Stock

AngioDynamics, Inc. (NASDAQ:ANGO) CEO James C. Clemmer acquired 20,000 shares of AngioDynamics stock in a transaction dated Monday, October 7th. The shares were acquired at an average price of $6.03 per share, with a total value of $120,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 681,582 shares of the company’s stock, valued at approximately $4,109,939.46. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

AngioDynamics Price Performance

Shares of ANGO opened at $6.14 on Friday. The stock’s fifty day moving average price is $7.34 and its two-hundred day moving average price is $6.64. AngioDynamics, Inc. has a 1 year low of $5.26 and a 1 year high of $8.25. The firm has a market cap of $245.94 million, a PE ratio of -1.27 and a beta of 0.65.

AngioDynamics (NASDAQ:ANGO) last issued its earnings results on Thursday, October 3rd. The medical instruments supplier reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.04. The business had revenue of $67.50 million for the quarter, compared to analysts’ expectations of $67.93 million. AngioDynamics had a negative net margin of 61.55% and a negative return on equity of 4.91%. The business’s revenue for the quarter was down 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.12) EPS. Sell-side analysts anticipate that AngioDynamics, Inc. will post -0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its position 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 valued at $10,850,000 after acquiring an additional 529,861 shares during the period. Fund 1 Investments LLC purchased a new stake in AngioDynamics in the 4th quarter worth approximately $3,896,000. Western Standard LLC boosted its holdings in AngioDynamics by 878.5% in the 1st quarter. Western Standard LLC now owns 523,393 shares of the medical instruments supplier’s stock valued at $3,072,000 after purchasing an additional 469,906 shares during the period. First Eagle Investment Management LLC purchased a new position in shares of AngioDynamics during the 2nd quarter valued at $1,321,000. Finally, Systematic Financial Management LP increased its holdings in shares of AngioDynamics by 8.4% in the second quarter. Systematic Financial Management LP now owns 2,109,561 shares of the medical instruments supplier’s stock worth $12,763,000 after purchasing an additional 162,972 shares during the period. Hedge funds and other institutional investors own 89.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on ANGO. Canaccord Genuity Group cut their price target on AngioDynamics from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, October 4th. HC Wainwright restated a “buy” rating and issued a $14.00 target price on shares of AngioDynamics in a research note on Friday, October 4th.

About AngioDynamics

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.