AngioDynamics, Inc. (ANGO) Expected to Post Quarterly Sales of $88.90 Million

Equities research analysts expect AngioDynamics, Inc. (NASDAQ:ANGO) to post $88.90 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for AngioDynamics’ earnings. The highest sales estimate is $90.10 million and the lowest is $87.70 million. AngioDynamics posted sales of $86.71 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.5%. The company is expected to report its next quarterly earnings results on Thursday, January 3rd.

According to Zacks, analysts expect that AngioDynamics will report full-year sales of $357.05 million for the current financial year, with estimates ranging from $355.70 million to $358.39 million. For the next financial year, analysts anticipate that the company will post sales of $366.72 million, with estimates ranging from $364.50 million to $368.94 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover AngioDynamics.

AngioDynamics (NASDAQ:ANGO) last announced its quarterly earnings results on Thursday, September 27th. The medical instruments supplier reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.02). AngioDynamics had a net margin of 4.62% and a return on equity of 5.44%. The business had revenue of $85.34 million during the quarter, compared to analyst estimates of $84.05 million. During the same quarter last year, the company posted $0.13 earnings per share. The company’s revenue was down .1% compared to the same quarter last year.

Several brokerages have issued reports on ANGO. Zacks Investment Research upgraded shares of AngioDynamics from a “sell” rating to a “hold” rating in a research report on Tuesday, September 11th. BidaskClub upgraded shares of AngioDynamics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 8th. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $18.44.

In other news, CFO Michael Greiner sold 1,939 shares of the stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $21.53, for a total transaction of $41,746.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of ANGO. Principal Financial Group Inc. increased its position in shares of AngioDynamics by 2.7% during the first quarter. Principal Financial Group Inc. now owns 298,168 shares of the medical instruments supplier’s stock worth $5,143,000 after buying an additional 7,871 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in shares of AngioDynamics during the second quarter worth $191,000. Massachusetts Financial Services Co. MA increased its position in shares of AngioDynamics by 15.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 71,979 shares of the medical instruments supplier’s stock worth $1,600,000 after buying an additional 9,860 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in shares of AngioDynamics during the second quarter worth $205,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of AngioDynamics by 58.0% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 164,089 shares of the medical instruments supplier’s stock worth $3,649,000 after buying an additional 60,239 shares during the period.

NASDAQ ANGO traded up $0.23 on Tuesday, hitting $21.16. The company’s stock had a trading volume of 114,369 shares, compared to its average volume of 123,470. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.55 and a current ratio of 2.64. AngioDynamics has a 1-year low of $15.16 and a 1-year high of $24.49. The stock has a market cap of $768.79 million, a P/E ratio of 28.59 and a beta of 0.78.

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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Earnings History and Estimates for AngioDynamics (NASDAQ:ANGO)

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