Why Angiodynamics Stock Sank Today
A fairly uninspiring set of quarterly results pushed (NASDAQ: ANGO) stock down in value on Wednesday. The medical device and technology company saw its share price dip by almost 3% on the day, contrasting with the 0.8% gain of the S 500 index.
For its first quarter of fiscal 2024, AngioDynamics booked net sales of $78.7 million. The two revenue streams that make up that figure, medical technology and medical devices, both saw increases. Technology posted the largest leap, with its take rising by over 13% year over year to $25.9 million. Devices advanced by slightly more than 2% to $52.8 million.
As for profitability, AngioDynamics posted a non-GAAP (adjusted) net loss of $4.8 million ($0.12 per share), nearly double the $2.5 million deficit in the same quarter of fiscal 2023.
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 slightly positive potential of 2.36% compared to the current price of 12.7 € for Angiodynamics Inc..
