Millennium Management LLC recently announced the acquisition of new stake in Angiodynamic Inc (NASDAQ:ANGO). The institutional investor has increased its shareholding in the Healthcare company by 99.04% to 2.7 million shares with purchase of 1.34 million shares. This fresh investment now brings its stake to 6.77% valued currently at $21.15 million. In addition, Systematic Financial Management L raised its holdings by 0.48 million to 1.9 million shares. And Morgan Stanley & Co. LLC has lifted its position by 390.99% or 1.12 million shares – to 1.41 million shares.
With over 0.5 million Angiodynamic Inc (ANGO) shares trading Friday and a closing price of $6.00 on the day, the dollar volume was approximately $2.98 million. The shares have shown a negative half year performance of -37.69% and its price on 01/12/24 lost nearly -0.99%. Currently, there are 39.61M common shares owned by the public and among those 38.57M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for ANGO have a consensus price objective of $15.00. The analysts have set the share’s price value over the next 12 months at a high of $18.00 and a low of $10.00. The average price target is 60.0% above its recent price level and an upside to the estimated low will see the stock gain 40.0% over that period. But an upside of 66.67% will see the stock hit the forecast high price target while median target price for the stock is $17.00.
Insiders at the company have transacted a total of 46 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 16 of these insider trades were purchases, accounting for 286,702 shares. Insider sales of the common stock occurred on 30 occasions, with total insider shares sold totaling 80,460 shares.
The top 3 mutual fund holders in Angiodynamic Inc are Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market ETF owns 1.21 million shares of the company’s stock, all valued at over $9.51 million. iShares Russell 2000 ETF sold 2718.0 shares to see its total holdings shrink to 1.02 million shares valued at over $8.04 million and representing 2.57% of the shares outstanding. Vanguard Extended Market Index Fu bought 1615.0 shares to bring its total holdings to over 0.6 million shares at a value of $4.73 million. Vanguard Extended Market Index Fu now owns shares totaling to 1.51% of the shares outstanding.
Shares of Angiodynamic Inc (NASDAQ: ANGO) opened at $6.14, up $0.08 from a prior closing price of $6.06. However, the script later moved the day high at 6.19, down -0.99%. The company’s stock has a 5-day price change of -3.38% and -6.40% over the past three months. ANGO shares are trading -23.47% year to date (YTD), with the 12-month market performance down to -54.99% lower. It has a 12-month low price of $5.72 and touched a high of $14.08 over the same period. ANGO has an average intraday trading volume of 588.45K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -18.46%, -13.80%, and -27.57% respectively.
Institutional ownership of Angiodynamic Inc (NASDAQ: ANGO) shares accounts for 91.24% of the company’s 39.61M shares outstanding. Mutual fund holders own 59.40%, while other institutional holders and individual stakeholders account for 64.74% and 26.54% respectively.
It has a market capitalization of $239.16M and a beta (3y monthly) value of 0.70. The earnings-per-share (ttm) stands at -$0.36. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.25% over the week and 4.02% over the month.
Analysts forecast that Angiodynamic Inc (ANGO) will achieve an EPS of -$0.12 for the current quarter, -$0.09 for the next quarter and -$0.25 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.13 while analysts give the company a high EPS estimate of -$0.12. Comparatively, EPS for the current quarter was -$0.03 a year ago. Earnings per share for the fiscal year are expected to decrease by -545.83%, and 36.77% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Angiodynamic Inc (ANGO) as a “Strong Buy” at a consensus score of 1.75. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 1 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ANGO, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on September 25, 2023, with the firm’s price target at $19.
