AngioDynamics (ANGO) Flat As Market Sinks: What You Should Know
In the latest trading session, AngioDynamics (ANGO) closed at $8.58, marking no change from the previous day. This change was narrower than the S&P 500's daily loss of 0.77%. Meanwhile, the Dow lost 0.84%, and the Nasdaq, a tech-heavy index, lost 1.17%.
Coming into today, shares of the medical device maker had lost 3.81% in the past month. In that same time, the Medical sector gained 1.39%, while the S&P 500 lost 2.13%.
Investors will be hoping for strength from AngioDynamics as it approaches its next earnings release. On that day, AngioDynamics is projected to report earnings of -$0.13 per share, which would represent a year-over-year decline of 116.67%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $77.76 million, down 4.64% from the year-ago period.
ANGO's full-year Zacks Consensus Estimates are calling for earnings of -$0.32 per share and revenue of $329.09 million. These results would represent year-over-year changes of -433.33% and -2.85%, respectively.
Any recent changes to analyst estimates for AngioDynamics should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. AngioDynamics is holding a Zacks Rank of #4 (Sell) right now.
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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AngioDynamics, Inc. (ANGO) : Free Stock Analysis Report
