AngioDynamics (ANGO) Gains But Lags Market: What You Should Know
AngioDynamics (ANGO) closed the latest trading day at $5.50, indicating a +0.18% change from the previous session's end. This move lagged the S&P 500's daily gain of 0.8%. Meanwhile, the Dow experienced a rise of 0.23%, and the technology-dominated Nasdaq saw an increase of 1.14%.
Shares of the medical device maker witnessed a loss of 8.65% over the previous month, trailing the performance of the Medical sector with its gain of 3.58% and the S&P 500's gain of 5.2%.
The upcoming earnings release of AngioDynamics will be of great interest to investors. The company's earnings per share (EPS) are projected to be -$0.11, reflecting a 266.67% decrease from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $76.71 million, indicating a 4.96% decline compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.43 per share and revenue of $316.15 million. These totals would mark changes of -616.67% and -6.67%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for AngioDynamics. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 12.34% fall in the Zacks Consensus EPS estimate. As of now, AngioDynamics holds a Zacks Rank of #3 (Hold).
The Medical - Instruments industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 69, positioning it in the top 28% of all 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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AngioDynamics, Inc. (ANGO) : Free Stock Analysis Report
