The latest trading session saw AngioDynamics (ANGO) closing at $6.85, indicating a +1.33% correction from its last day. This change topped the S&P 500’s 0.41% gain on the day. Meanwhile, the Dow experienced growth of 0.53%, and the technology-dominated Nasdaq saw an increase of 0.46%.
Shares of the medical device maker witnessed a gain of 2.11% over the previous month, beating the performance of the Medical sector with its gain of 1.82% and underperforming the S&P 500’s gain of 7.62%.
The investment community will be paying close attention to AngioDynamics’ earnings performance in its next release. In that report, analysts expect AngioDynamics to post earnings of -$0.08 per share. This would mark a year-over-year decline of 900%. Together, our most recent consensus estimate forecasts revenue of $81.65 million, indicating a 4.43% downward move from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest that analysts expect earnings of -$0.32 per share and revenue of $328.92 million. These totals would mark changes of -433.33% and -2.9%, respectively, from last year.
In addition, it would be beneficial for investors to check any recent changes in analyst projections for AngioDynamics. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive rating revisions a sign of optimism about the company’s business outlook.
Our research suggests that these changes in valuations have a direct relationship with upcoming stock price performance. To exploit this, we created the Zacks Rank, a quantitative model that incorporates these rating changes and presents a viable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has a remarkable history of outperformance, externally verified, with #1 stocks returning an average annual gain of +25% since 1988. During the last 30 days, the Zacks Consensus EPS estimate remained unchanged. Right now, AngioDynamics owns a Zacks Rank of #3 (Hold).
The Medical – Instrument industry is part of the Medical sector. This industry, which currently has a Zacks Industry Rank of 70, finds itself in the top 28% rungs of all 250+ industries.
The Zacks Industry Rank assesses the vitality of our specific industry groups by computing the average Zacks Rank of the individual stocks included in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock movement metrics during the next trading sessions.
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AngioDynamics, Inc. (ANGO): Free Analysis Report
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