AngioDynamics (ANGO) Stock Sinks As Market Gains: Here's Why
In the latest market close, AngioDynamics (ANGO) reached $6.09, with a -0.98% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.57% for the day. Elsewhere, the Dow saw a downswing of 0.14%, while the tech-heavy Nasdaq appreciated by 1.25%.
The medical device maker's shares have seen an increase of 1.49% over the last month, not keeping up with the Medical sector's gain of 2.05% and the S&P 500's gain of 5.07%.
The upcoming earnings release of AngioDynamics will be of great interest to investors. The company's earnings per share (EPS) are projected to be -$0.12, reflecting a 300% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $78.23 million, showing a 3.08% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.39 per share and revenue of $320.79 million. These totals would mark changes of -550% and -5.3%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for AngioDynamics. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, AngioDynamics possesses a Zacks Rank of #4 (Sell).
The Medical - Instruments industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 158, which puts it in the bottom 38% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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AngioDynamics, Inc. (ANGO) : Free Stock Analysis Report
