Why AngioDynamics (ANGO) Dipped More Than Broader Market Today
AngioDynamics (ANGO) closed at $5.67 in the latest trading session, marking a -1.39% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.65% for the day. On the other hand, the Dow registered a loss of 0.18%, and the technology-centric Nasdaq decreased by 1.16%.
The the stock of medical device maker has fallen by 6.5% in the past month, lagging the Medical sector's gain of 3.18% and the S&P 500's gain of 3.4%.
The investment community will be paying close attention to the earnings performance of AngioDynamics in its upcoming release. The company is expected to report EPS of -$0.14, down 366.67% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $76.71 million, indicating a 4.96% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.43 per share and a revenue of $316.15 million, indicating changes of -616.67% and -6.67%, respectively, from the former year.
It is also important to note the 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Within the past 30 days, our consensus EPS projection has moved 10.9% lower. AngioDynamics currently has a Zacks Rank of #3 (Hold).
The Medical - Instruments industry is part of the Medical sector. With its current Zacks Industry Rank of 67, this industry ranks in the top 27% of all industries, numbering over 250.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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AngioDynamics, Inc. (ANGO) : Free Stock Analysis Report
