Why AngioDynamics Stock Is Sinking Today

Shares of (NASDAQ: ANGO) were sinking 13.1% as of 11:02 a.m. ET. The sell-off came after the medical technology company announced its third-quarter results before the market open.

Those results were actually quite good. AngioDynamics reported Q3 revenue of $79.4 million, up 8.8% year-over-year on a pro forma basis and higher than the consensus Wall Street estimate of $76.4 million. The company posted an adjusted loss of $59,000, which amounted to roughly $0.00 per share. Analysts expected an adjusted net loss of $0.10 per share.

So why did this medical device stock sell off so heavily? Probably because AngioDynamics announced the unexpected retirement of CEO Jim Clemmer.

Source Fool.com

Angiodynamics Inc. Aktie

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