AngioDynamics (ANGO) Stock Drops Despite Market Gains: Important Facts to Note
AngioDynamics (ANGO) closed the latest trading day at $6.86, indicating a -1.15% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 0.12%. Elsewhere, the Dow saw a downswing of 0.13%, while the tech-heavy Nasdaq appreciated by 0.07%.
The the stock of medical device maker has by 0% in the past month, leading the Medical sector's loss of 1.93% and undershooting the S&P 500's gain of 4.23%.
The upcoming earnings release of AngioDynamics will be of great interest to investors. The company's earnings per share (EPS) are projected to be -$0.08, reflecting a 900% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $81.65 million, down 4.43% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.32 per share and revenue of $328.92 million, indicating changes of -433.33% and -2.9%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for AngioDynamics. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, AngioDynamics possesses 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 86, positioning it in the top 35% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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AngioDynamics, Inc. (ANGO) : Free Stock Analysis Report
