- H.C. Wainwright maintained its Buy rating on AngioDynamics but lowered its price target to $18.
- AngioDynamics reported a 6.9% revenue increase to $80.9 million and a narrowed adjusted loss of 4 cents per share for Q1 fiscal 2027.
- Despite positive Q1 results and strong Med Tech sales, AngioDynamics’ shares experienced a significant drop of over 21%.
H.C. Wainwright maintains its Buy rating on AngioDynamics (NASDAQ: ANGO) but lowers its price target from $19 to $18. The medical device stock trades at $10.68 when the update is posted. AngioDynamics makes medical devices, including its Auryon, AlphaVac and NanoKnife products.
The rating update follows AngioDynamics’ first-quarter fiscal 2027 results. Revenue rises 6.9% from a year earlier to $80.9 million. The adjusted loss narrows to 4 cents per share from 10 cents a year earlier. An adjusted loss excludes certain costs, giving investors another way to track the company’s operating performance and financial health.
Med Tech sales grow 13.2% to $39.9 million, with AlphaVac sales up 37.4%. Gross margin reaches 59.4%, an increase of 410 basis points, or 4.1 percentage points. Gross margin shows how much sales revenue remains after direct production costs. The operating loss narrows to $7.3 million, as highlighted by Zacks.
The stronger Q1 fiscal results do not prevent a sharp share-price drop. Shares fall more than 21% on Thursday despite beating analysts’ earnings expectations, as highlighted by Benzinga. About 1.94 million shares change hands, nearly 3.8 times the 100-day average. AngioDynamics also names Eric Honroth president and CEO, effective Nov. 2, succeeding Jim Clemmer.
