We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
AngioDynamics (ANGO) at a 52-Week High: What's Driving It?
Read MoreHide Full Article
Shares of AngioDynamics Inc. (ANGO - Free Report) reached a new 52-week high of $22.71 on Mar 9, before closing the session marginally lower at $ 21.77. The stock has rallied 34.5% since its second-quarter earnings announcement on Jan 7.
The company is witnessing an uptrend in its stock price, prompted by robust performance in the Vascular Interventions and Therapies and the Vascular Access businesses during the second quarter. AngioDynamics is witnessing continued strong momentum from its Auryon Atherectomy System launch. The NanoKnife platform continues to be a major plus. However, the company is exposed to stringent regulatory environment and pricing headwinds due to stiff competition.
Let’s delve deeper
Key Growth Catalysts
Impressive Q2 Performance: AngioDynamics’ strong performance in the second quarter buoys optimism. The company witnessed solid technology platform performance with strong sales growth in the AngioVac arm. The recent launch of Auryon Atherectomy System contributed to growth. Vascular Interventions and Therapies and the Vascular Access segments revenues rose during the reported quarter. Reaffirmation of its fiscal 2021 outlook instills investor optimism.
Growth in NanoKnife: AngioDynamics continues to witness strong momentum in its NanoKnife platform with robust disposable sales in the second quarter of fiscal 2021 on strong capital sales in fiscal 2020 as well as increased visibility of this technology’s uniqueness. Moreover, NanoKnife probe sales grew 30% in the reported quarter driven by 76% growth in the United States. Considering solid performance of the Nanoknife platform, AngioDynamics recently launched the NanoKnife 3.0 generator.
Positive Long-Term Outlook: The bullish stock trend reflects a positive long-term outlook, an expanding product portfolio, an innovative pipeline and improving operating efficiency. AngioDynamics continues to focus on investments in its three key technologies – AngioVac, Auryon and NanoKnife – which will enhance its market opportunities. The company expects to boost its portfolio with a strong pipeline, which includes AngioVac 4.0. along with double and triple lumen catheters to be used for dialysis. Additionally, a dual-source group purchasing agreement with Premier to supply implantable infusion ports buoys optimism.
AngioDynamics is riding on acquisitions and strategic alliances like Microsulis, Navilyst, Vortex Medical, NanoKnife and RITA Medical. The recent acquisition of C3 Wave PICC tip location system is expected to positively impact PICC product lines over the long run.
Downsides
Stringent Regulatory Environment: AngioDynamics is exposed to a stringent regulatory environment. Regulatory setbacks might dampen approvals for pipeline products, which will in turn hurt overall growth. The company is also facing regulatory delays in its Asian markets, which is a concern.
Pricing Headwinds & Competition: AngioDynamics is exposed to pricing headwinds stemming from lower selling prices of peripheral vascular products due to aggressive price competition. The company faces stiff competition from device makers like Boston Scientific, Becton, Dickinson & Company and Merit Medical.
Zacks Rank and Key Picks
Currently, AngioDynamics carries a Zacks Rank #3 (Hold).
Bioanalytical Systems has a projected long-term earnings growth rate of 15%.
ConforMIS has an estimated long-term earnings growth rate of 42%.
Hologic has a projected long-term earnings growth rate of 15%.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Image: Bigstock
AngioDynamics (ANGO) at a 52-Week High: What's Driving It?
Shares of AngioDynamics Inc. (ANGO - Free Report) reached a new 52-week high of $22.71 on Mar 9, before closing the session marginally lower at $ 21.77. The stock has rallied 34.5% since its second-quarter earnings announcement on Jan 7.
The company is witnessing an uptrend in its stock price, prompted by robust performance in the Vascular Interventions and Therapies and the Vascular Access businesses during the second quarter. AngioDynamics is witnessing continued strong momentum from its Auryon Atherectomy System launch. The NanoKnife platform continues to be a major plus. However, the company is exposed to stringent regulatory environment and pricing headwinds due to stiff competition.
Let’s delve deeper
Key Growth Catalysts
Impressive Q2 Performance: AngioDynamics’ strong performance in the second quarter buoys optimism. The company witnessed solid technology platform performance with strong sales growth in the AngioVac arm. The recent launch of Auryon Atherectomy System contributed to growth. Vascular Interventions and Therapies and the Vascular Access segments revenues rose during the reported quarter. Reaffirmation of its fiscal 2021 outlook instills investor optimism.
Growth in NanoKnife: AngioDynamics continues to witness strong momentum in its NanoKnife platform with robust disposable sales in the second quarter of fiscal 2021 on strong capital sales in fiscal 2020 as well as increased visibility of this technology’s uniqueness. Moreover, NanoKnife probe sales grew 30% in the reported quarter driven by 76% growth in the United States. Considering solid performance of the Nanoknife platform, AngioDynamics recently launched the NanoKnife 3.0 generator.
Positive Long-Term Outlook: The bullish stock trend reflects a positive long-term outlook, an expanding product portfolio, an innovative pipeline and improving operating efficiency. AngioDynamics continues to focus on investments in its three key technologies – AngioVac, Auryon and NanoKnife – which will enhance its market opportunities. The company expects to boost its portfolio with a strong pipeline, which includes AngioVac 4.0. along with double and triple lumen catheters to be used for dialysis. Additionally, a dual-source group purchasing agreement with Premier to supply implantable infusion ports buoys optimism.
AngioDynamics is riding on acquisitions and strategic alliances like Microsulis, Navilyst, Vortex Medical, NanoKnife and RITA Medical. The recent acquisition of C3 Wave PICC tip location system is expected to positively impact PICC product lines over the long run.
Downsides
Stringent Regulatory Environment: AngioDynamics is exposed to a stringent regulatory environment. Regulatory setbacks might dampen approvals for pipeline products, which will in turn hurt overall growth. The company is also facing regulatory delays in its Asian markets, which is a concern.
Pricing Headwinds & Competition: AngioDynamics is exposed to pricing headwinds stemming from lower selling prices of peripheral vascular products due to aggressive price competition. The company faces stiff competition from device makers like Boston Scientific, Becton, Dickinson & Company and Merit Medical.
Zacks Rank and Key Picks
Currently, AngioDynamics carries a Zacks Rank #3 (Hold).
A few better-ranked stocks from the broader medical space are Bioanalytical Systems, Inc. , ConforMIS, Inc. and Hologic, Inc. (HOLX - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of Zacks #1 Rank (Strong Buy) stocks here.
Bioanalytical Systems has a projected long-term earnings growth rate of 15%.
ConforMIS has an estimated long-term earnings growth rate of 42%.
Hologic has a projected long-term earnings growth rate of 15%.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>