AngioDynamics Inc.ANGO saw a big move last session, as the company's shares fell by almost 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for ANGO, as the stock is now down almost 16% in the past one-month time frame.
On Oct 8, 2015, the company posted first quarter of fiscal 2016 results, where adjusted earnings of 11 cents per share for the were in line with the Zacks Consensus Estimate, but plunged 31.3% on a year-over-year basis. Sales declined 4.2% year over year and also lagged estimates.
The medical devices provider has seen a mixed track record when it comes to current year estimate revisions over the past few weeks (0 increases, 2 decreases), and the consensus for earnings hasn't been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
ANGO currently has a Zacks Rank #4 (Sell).
Investors interested in the Medical Instruments industry may consider better-ranked stock like Cesca Therapeutics Inc. KOOL , which carries a Zacks Rank #1 (Strong Buy).
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ANGIODYNAMICS (ANGO): Free Stock Analysis Report
CESCA THERAP (KOOL): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
