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Here's Why AngioDynamics (ANGO) Gained But Lagged the Market Today
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In the latest market close, AngioDynamics (ANGO - Free Report) reached $5.99, with a +1.7% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 2.11%. Elsewhere, the Dow gained 1.18%, while the tech-heavy Nasdaq added 2.96%.
The the stock of medical device maker has fallen by 1.83% in the past month, lagging the Medical sector's gain of 3.98% and the S&P 500's gain of 3.08%.
The investment community will be closely monitoring the performance of AngioDynamics in its forthcoming earnings report. On that day, AngioDynamics is projected to report earnings of -$0.14 per share, which would represent a year-over-year decline of 366.67%. Alongside, our most recent consensus estimate is anticipating revenue of $76.71 million, indicating a 4.96% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.43 per share and a revenue of $316.15 million, indicating changes of -616.67% and -6.67%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for AngioDynamics. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 12.34% lower. AngioDynamics presently features a Zacks Rank of #3 (Hold).
The Medical - Instruments industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 79, finds itself in the top 32% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Here's Why AngioDynamics (ANGO) Gained But Lagged the Market Today
In the latest market close, AngioDynamics (ANGO - Free Report) reached $5.99, with a +1.7% movement compared to the previous day. The stock's change was less than the S&P 500's daily gain of 2.11%. Elsewhere, the Dow gained 1.18%, while the tech-heavy Nasdaq added 2.96%.
The the stock of medical device maker has fallen by 1.83% in the past month, lagging the Medical sector's gain of 3.98% and the S&P 500's gain of 3.08%.
The investment community will be closely monitoring the performance of AngioDynamics in its forthcoming earnings report. On that day, AngioDynamics is projected to report earnings of -$0.14 per share, which would represent a year-over-year decline of 366.67%. Alongside, our most recent consensus estimate is anticipating revenue of $76.71 million, indicating a 4.96% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.43 per share and a revenue of $316.15 million, indicating changes of -616.67% and -6.67%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for AngioDynamics. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 12.34% lower. AngioDynamics presently features a Zacks Rank of #3 (Hold).
The Medical - Instruments industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 79, finds itself in the top 32% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.