AngioDynamics (ANGO) Falls More Steeply Than Broader Market: What Investors Need to Know
AngioDynamics (ANGO) closed the most recent trading day at $6.77, moving -1.31% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.54% for the day. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq lost 0.84%.
Coming into today, shares of the medical device maker had gained 0.73% in the past month. In that same time, the Medical sector gained 5.53%, while the S&P 500 gained 8.62%.
Analysts and investors alike will be keeping a close eye on the performance of AngioDynamics in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.08, reflecting a 900% decrease from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $81.65 million, reflecting a 4.43% fall from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.32 per share and a revenue of $328.92 million, representing changes of -433.33% and -2.9%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for AngioDynamics. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, AngioDynamics holds a Zacks Rank of #3 (Hold).
The Medical - Instruments industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 74, placing it within the top 30% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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AngioDynamics, Inc. (ANGO) : Free Stock Analysis Report
