Lapides Asset Management LLC Buys 101,000 Shares of AngioDynamics, Inc. (NASDAQ:ANGO)

Lapides Asset Management LLC grew its stake in shares of AngioDynamics, Inc. (NASDAQ:ANGO) by 79.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 228,100 shares of the medical instruments supplier’s stock after acquiring an additional 101,000 shares during the period. AngioDynamics comprises approximately 1.3% of Lapides Asset Management LLC’s investment portfolio, making the stock its 29th biggest holding. Lapides Asset Management LLC owned approximately 0.61% of AngioDynamics worth $2,320,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its stake in AngioDynamics by 1,915.4% in the first quarter. The Manufacturers Life Insurance Company now owns 448,814 shares of the medical instruments supplier’s stock worth $4,681,000 after buying an additional 426,545 shares in the last quarter. Nuveen Asset Management LLC raised its stake in AngioDynamics by 105.8% in the fourth quarter. Nuveen Asset Management LLC now owns 541,551 shares of the medical instruments supplier’s stock worth $8,670,000 after buying an additional 278,403 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in AngioDynamics by 92.8% in the second quarter. Assenagon Asset Management S.A. now owns 526,300 shares of the medical instruments supplier’s stock worth $5,352,000 after buying an additional 253,343 shares in the last quarter. Victory Capital Management Inc. raised its stake in AngioDynamics by 4.7% in the first quarter. Victory Capital Management Inc. now owns 4,802,085 shares of the medical instruments supplier’s stock worth $50,086,000 after buying an additional 213,802 shares in the last quarter. Finally, State Street Corp raised its stake in AngioDynamics by 12.3% in the first quarter. State Street Corp now owns 1,716,857 shares of the medical instruments supplier’s stock worth $17,907,000 after buying an additional 188,263 shares in the last quarter. 97.82% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently commented on the stock. BidaskClub downgraded shares of AngioDynamics from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 13th. Canaccord Genuity reaffirmed a “hold” rating and set a $14.00 price target on shares of AngioDynamics in a research report on Friday, July 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $17.50.

Shares of ANGO stock traded down $0.24 during trading hours on Friday, reaching $8.26. 710,223 shares of the company’s stock were exchanged, compared to its average volume of 298,453. The stock’s 50 day moving average is $9.82 and its 200-day moving average is $11.02. The company has a market cap of $310.79 million, a price-to-earnings ratio of -1.90 and a beta of 0.70. The company has a current ratio of 2.97, a quick ratio of 1.80 and a debt-to-equity ratio of 0.12. AngioDynamics, Inc. has a fifty-two week low of $7.48 and a fifty-two week high of $21.08.

AngioDynamics (NASDAQ:ANGO) last issued its quarterly earnings results on Thursday, July 16th. The medical instruments supplier reported ($0.06) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.06). The business had revenue of $58.30 million for the quarter, compared to the consensus estimate of $62.86 million. AngioDynamics had a positive return on equity of 0.62% and a negative net margin of 62.76%. The business’s quarterly revenue was down 18.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 earnings per share. Equities analysts anticipate that AngioDynamics, Inc. will post -0.1 EPS for the current year.

About AngioDynamics

AngioDynamics, Inc designs, manufactures, and sells various medical, surgical, and diagnostic devices for the treatment of peripheral vascular disease, vascular access, and for use in oncology and surgical settings in the United States and internationally. The company provides AngioVac venous drainage system that includes venous drainage cannula for the removal of fresh, soft thrombi, or emboli during extracorporeal bypass; and cardiopulmonary bypass circuit for use in procedures during extracorporeal circulatory support.

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Institutional Ownership by Quarter for AngioDynamics (NASDAQ:ANGO)

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