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AngioDynamics (ANGO) Beats on Q3 Earnings, Raises 2017 View

Zacks Equity Research

Headquartered in Latham, NY, AngioDynamics Inc. ANGO, a leading provider of minimally invasive medical devices, reported adjusted earnings of 19 cents per share in the third quarter of fiscal 2017. Earnings beat the Zacks Consensus Estimate by 4 cents and increased from 15 cents in the year-ago period.

Meanwhile, net sales for the quarter came in at $85.6 million compared with $87.4 million a year ago. This also came in below the Zacks Consensus Estimate of $88 million.

Stock Performance

The price performance of the stock was favorable over the last six months. AngioDynamics rose by 0.75% while the Zacks classified Medical Instruments sub-industry lost almost 2.42%.



 

Segment Details

Peripheral Vascular (PV) business sales were $48.5 million compared with $49.8 million in the year-ago quarter.

Vascular Access net sales were $23.7 million compared with $24.9 million a year ago.

Oncology/Surgery net sales in the fiscal third quarter were $13.0 million compared with $12.1 million in the year-ago quarter.

Overall U.S. net sales in the reported quarter were $67.4 million compared with $69.5 million in the year-ago quarter. Overall international net sales were $17.8 million compared with $17.2 million a year ago.

Financial Condition

AngioDynamics gave a strong cash flow performance in the third quarter of fiscal 2017. Per management, the company generated $14.4 million in operating cash flow and $14.0 million in free cash flow.

Additionally, AngioDynamics ended the quarter with $35.6 million in cash and cash equivalents. The company had an outstanding long-term debt worth $92.5 million.

AngioDynamics, Inc. Price, Consensus and EPS Surprise

 

AngioDynamics, Inc. Price, Consensus and EPS Surprise | AngioDynamics, Inc. Quote

Fiscal 2017 Guidance

For fiscal 2017, the company raised the adjusted earnings guidance range to 68–70 cents from 65–67 cents per share guided previously.

The company revised its revenue guidance from $355 million to $360 million to a range of $352 million to $355 million.

Furthermore, free cash flow is expected at over $35 million.

Our Take

We are upbeat on the primary areas of strength for AngioDynamics that include the platforms of BioFlo Midline in the Vascular Access franchise and NanoKnife within the Oncology/Surgery segment.

Zacks Rank & Other Picks

AngioDynamics has a Zacks Rank #2 (Buy).

Other stocks worth considering in the broader medical sector include Inogen Inc. INGN, IDEXX Laboratories, Inc. IDXX and Fluidigm Corporation FLDM. Notably, Inogen and IDEXX Laboratories sport a Zacks Rank #1 (Strong Buy) while Fluidigm carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.

Inogen has a long-term expected earnings growth rate of 17.50%. Notably, the stock registered an impressive one-year return of 70.6%.

IDEXX Laboratories has a long-term expected earnings growth rate of 15.04%. Additionally, the stock has an impressive one-year return of 97.5%.

Fluidigm has a long-term expected earnings growth rate of 25%. The stock delivered a positive earnings surprise of 1.6% last quarter.

 

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AngioDynamics, Inc. (ANGO): Free Stock Analysis Report
 
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