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

AngioDynamics, Inc. (NASDAQ:ANGO) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 882,000 shares, a drop of 11.8% from the December 15th total of 1,000,000 shares. Based on an average trading volume of 625,200 shares, the short-interest ratio is currently 1.4 days.

Insider Activity

In other news, SVP Warren Nighan, Jr. sold 4,060 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $12.31, for a total value of $49,978.60. Following the completion of the sale, the senior vice president now owns 41,817 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. Insiders own 5.40% of the company’s stock.

Institutional Investors Weigh In On AngioDynamics

Several hedge funds and other institutional investors have recently bought and sold shares of ANGO. Quarry LP increased its holdings in shares of AngioDynamics by 40.9% during the third quarter. Quarry LP now owns 8,518 shares of the medical instruments supplier’s stock valued at $66,000 after acquiring an additional 2,471 shares in the last quarter. SG Americas Securities LLC grew its position in AngioDynamics by 21.3% in the 4th quarter. SG Americas Securities LLC now owns 16,102 shares of the medical instruments supplier’s stock valued at $147,000 after purchasing an additional 2,832 shares during the period. CWM LLC increased its stake in AngioDynamics by 981.3% during the 3rd quarter. CWM LLC now owns 9,732 shares of the medical instruments supplier’s stock valued at $76,000 after purchasing an additional 8,832 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in AngioDynamics during the third quarter worth $86,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of AngioDynamics by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 326,820 shares of the medical instruments supplier’s stock valued at $2,543,000 after buying an additional 11,599 shares in the last quarter. 89.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ANGO has been the subject of a number of recent analyst reports. HC Wainwright increased their target price on shares of AngioDynamics from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Canaccord Genuity Group decreased their price objective on shares of AngioDynamics from $13.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, October 4th.

AngioDynamics Price Performance

Shares of AngioDynamics stock opened at $12.43 on Friday. The stock’s 50-day moving average is $8.75 and its 200 day moving average is $7.65. AngioDynamics has a one year low of $5.26 and a one year high of $13.13. The firm has a market cap of $503.04 million, a price-to-earnings ratio of -2.21 and a beta of 0.59.

AngioDynamics (NASDAQ:ANGO) last announced its quarterly earnings data on Wednesday, January 8th. The medical instruments supplier reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.07. The company had revenue of $72.90 million during the quarter, compared to the consensus estimate of $70.93 million. AngioDynamics had a negative net margin of 79.38% and a negative return on equity of 7.26%. During the same quarter last year, the firm posted ($0.05) EPS. The company’s quarterly revenue was down .1% on a year-over-year basis. On average, sell-side analysts expect that AngioDynamics will post -0.36 EPS for the current fiscal year.

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.