Connor Clark & Lunn Investment Management Ltd. Increases Stake in AngioDynamics, Inc. (NASDAQ:ANGO)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in AngioDynamics, Inc. (NASDAQ:ANGO) by 37.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 230,156 shares of the medical instruments supplier’s stock after buying an additional 62,496 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.57% of AngioDynamics worth $1,791,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Quarry LP boosted its holdings in AngioDynamics by 75.1% in the second quarter. Quarry LP now owns 6,047 shares of the medical instruments supplier’s stock valued at $37,000 after purchasing an additional 2,594 shares during the period. CWM LLC grew its position in shares of AngioDynamics by 981.3% during the third quarter. CWM LLC now owns 9,732 shares of the medical instruments supplier’s stock worth $76,000 after buying an additional 8,832 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of AngioDynamics during the third quarter worth approximately $86,000. Mackenzie Financial Corp acquired a new stake in AngioDynamics in the second quarter valued at approximately $80,000. Finally, SG Americas Securities LLC purchased a new position in AngioDynamics in the third quarter worth approximately $103,000. Institutional investors and hedge funds own 89.43% of the company’s stock.

Insider Activity at AngioDynamics

In other AngioDynamics news, CEO James C. Clemmer bought 20,000 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were acquired at an average cost of $6.03 per share, with a total value of $120,600.00. Following the acquisition, the chief executive officer now directly owns 681,582 shares of the company’s stock, valued at $4,109,939.46. The trade was a 3.02 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders bought a total of 22,568 shares of company stock valued at $135,847 in the last three months. 5.40% of the stock is currently owned by company insiders.

AngioDynamics Trading Up 2.3 %

ANGO stock opened at $6.99 on Tuesday. The stock has a market cap of $284.03 million, a P/E ratio of -1.15 and a beta of 0.67. AngioDynamics, Inc. has a twelve month low of $5.26 and a twelve month high of $8.25. The company’s 50 day moving average is $6.94 and its two-hundred day moving average is $6.80.

AngioDynamics (NASDAQ:ANGO) last announced its quarterly earnings results on Thursday, October 3rd. The medical instruments supplier reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.04. AngioDynamics had a negative net margin of 83.95% and a negative return on equity of 5.86%. The firm had revenue of $67.50 million for the quarter, compared to analyst estimates of $67.93 million. During the same period last year, the business earned ($0.12) EPS. AngioDynamics’s revenue for the quarter was down 14.2% compared to the same quarter last year. On average, equities research analysts predict that AngioDynamics, Inc. will post -0.41 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. HC Wainwright reissued a “buy” rating and issued a $14.00 price objective on shares of AngioDynamics in a research report on Friday, October 4th. Canaccord Genuity Group cut their price target on AngioDynamics from $13.00 to $12.00 and set a “buy” rating on the stock 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.