Why AngioDynamics Stock Popped on Monday
Shares of medical device manufacturer AngioDynamics (NASDAQ: ANGO) jumped 5.3% through 12:05 p.m. ET on Monday ahead of its expected earnings release next month. This morning, investment bank H.C. Wainwright initiated coverage of AngioDynamics stock with a buy rating.
The company has a couple of key products: AlphaVac, a device for removing blood clots from veins; and NanoKnife, which uses electricity to destroy cancerous cells. With these and other tools, H.C. Wainwright says, AngioDynamics is a stock with the potential to "continue to grow at an annual rate around 20%," reports TheFly.com in coverage of Wainwright's report -- and that would help the stock nearly triple in price over the next 12 months to a target of $19.
But right now, AngioDynamics isn't growing anywhere near 20% annually. Last month, the company grew its revenue less than 5%, and was not profitable. Furthermore, according to data from S&P Global Market Intelligence, revenue growth has averaged something closer to 8.6% annually over the past three years. So if anything, the growth rate seems to be slowing down.
Source Fool.com
Angiodynamics Inc. Stock
The community is currently still undecided about Angiodynamics Inc. with 1 Buy predictions and 0 Sell predictions.
As a result the target price of 13 € shows a very positive potential of 50.29% compared to the current price of 8.65 € for Angiodynamics Inc..
