AngioDynamics (NASDAQ:ANGO) Profit Outlook Misses Estimates; Shatters Sales Forecast

AngioDynamics, Inc (NASDAQ:ANGO) estimate fiscal Q3 earnings lower than analyst forecasts and lower its sales outlook, as the company mentioned weaker-than-forecasted procedure volumes and capital equipment sales.

Shares of the medical-device company plunged 4.1% to settle at $12.07 in afterhours trading session.

The Latham, New York based AngioDynamics expects adjusted Q3 earnings of 4 cents to 6 cents per share, while Thomson Reuters analysts survey most recently forecasted EPS of 9 cents.

AngioDynamics presently estimate net sales of almost $82 million, low from its earlier outlook of sales in the range of $89 million to $90 million.

The company announced in January that its fiscal Q2 earnings plunged 15% as higher input expenses and outlays masked higher vascular sales.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Vascular Solutions, Inc. (NASDAQ:VASC) rose +0.66% to settle at $15.25, Merit Medical Systems, Inc. (NASDAQ:MMSI) moved up +1.38% to end at $12.46 while Theragenics Corporation (NYSE:TGX) jumped +3.03% to finish at $1.70 on Friday.

AngioDynamics, Inc. (NASDAQ:ANGO) last session’s volume of 506,888 shares was surprisingly higher than its average volume of 101,302 shares. The stock after opening at $11.50 hit high price of $11.50 and then closed at $10.99 by scoring -12.64%.

The liquidity measure in recent quarter results of the company was recorded 2.51 as current ratio and on the other side the debt to equity ratio was 0.28 and long-term debt to equity ratio remained at 0.26. The Company had total cash of $21.48 million at hand and a book value per share as $15.12 in the most recent quarter.

The stock’s price volatility was 3.21% for a week and 2.41% for a month as well as price volatility’s Average True Range for 14 days was 0.38 and its beta remained at 0.74.

ANGO generated revenue of $279.68 million in the previous twelve months and earned -$7.55 million. The Company showed a negative -2.70% in the net profit margin as well as in its operating margin which remained at -1.36%. Company’s annual sales growth for the past five years was 14.60%.

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