Why AngioDynamics (ANGO) Outpaced the Stock Market Today
AngioDynamics (ANGO) closed the latest trading day at $6.17, indicating a +1.31% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily gain of 0.58%. Elsewhere, the Dow gained 0.91%, while the tech-heavy Nasdaq added 0.3%.
Coming into today, shares of the medical device maker had gained 3.4% in the past month. In that same time, the Medical sector gained 2.39%, while the S&P 500 gained 4.61%.
Investors will be eagerly watching for the performance of AngioDynamics in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.12, indicating a 300% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $78.23 million, indicating a 3.08% decrease compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.39 per share and a revenue of $320.79 million, indicating changes of -550% and -5.3%, respectively, from the former 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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 no change in the Zacks Consensus EPS estimate. AngioDynamics is currently a Zacks Rank #4 (Sell).
The Medical - Instruments industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 103, positioning it in the top 41% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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AngioDynamics, Inc. (ANGO) : Free Stock Analysis Report
