AngioDynamics (ANGO) Stock Slides as Market Rises: Facts to Know Before You Trade
AngioDynamics (ANGO) closed the latest trading day at $6.74, indicating a -0.15% change from the previous session's end. This change lagged the S&P 500's 0.1% gain on the day. At the same time, the Dow added 0.24%, and the tech-heavy Nasdaq gained 0.29%.
Prior to today's trading, shares of the medical device maker had gained 6.47% over the past month. This has lagged the Medical sector's gain of 6.5% and the S&P 500's gain of 10.68% in that time.
The investment community will be paying close attention to the earnings performance of AngioDynamics in its upcoming release. The company is forecasted to report an EPS of -$0.08, showcasing a 900% downward movement from the corresponding quarter of the prior 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.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.32 per share and revenue of $328.92 million. These totals would mark changes of -433.33% and -2.9%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for AngioDynamics. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. AngioDynamics is currently a Zacks Rank #3 (Hold).
The Medical - Instruments industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 72, finds itself in the top 29% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ANGO in the coming trading sessions, be sure to utilize Zacks.com.
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AngioDynamics, Inc. (ANGO) : Free Stock Analysis Report
