AngioDynamics (ANGO - Free Report) shares soared 7.9% in the last trading session to close at $22.47. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2% loss over the past four weeks.
AngioDynamics recorded a strong price increase, courtesy of its encouraging third-quarter fiscal 2021 results. While adjusted earnings per share of 2 cents beat the Zacks Consensus Estimate of a loss of 3 cents per share, revenues surpassed the consensus mark by 4% in the quarter under review. Market is also upbeat about the company’s raised fiscal 2021 guidance (compared to the prior announcement), wherein both earnings and revenue projections exceeded the Zacks Consensus Estimate.
Price and Consensus
This medical device maker is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of 133.3%. Revenues are expected to be $71.8 million, up 23% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For AngioDynamics, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ANGO going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
AngioDynamics (ANGO - Free Report) shares soared 7.9% in the last trading session to close at $22.47. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 2% loss over the past four weeks.
AngioDynamics recorded a strong price increase, courtesy of its encouraging third-quarter fiscal 2021 results. While adjusted earnings per share of 2 cents beat the Zacks Consensus Estimate of a loss of 3 cents per share, revenues surpassed the consensus mark by 4% in the quarter under review. Market is also upbeat about the company’s raised fiscal 2021 guidance (compared to the prior announcement), wherein both earnings and revenue projections exceeded the Zacks Consensus Estimate.
Price and Consensus
This medical device maker is expected to post quarterly earnings of $0.02 per share in its upcoming report, which represents a year-over-year change of 133.3%. Revenues are expected to be $71.8 million, up 23% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For AngioDynamics, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ANGO going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on ANGO - FREE