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.
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%.
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.
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.
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.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
AngioDynamics, Inc. (ANGO): Free Stock Analysis Report
IDEXX Laboratories, Inc. (IDXX): Free Stock Analysis Report
Inogen, Inc (INGN): Free Stock Analysis Report
Fluidigm Corporation (FLDM): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research