The latest trading session saw AngioDynamics (ANGO) ending at $6.85, denoting a +1.33% adjustment from its last day's close. This change outpaced the S&P 500's 0.41% gain on the day. Meanwhile, the Dow experienced a rise of 0.53%, and the technology-dominated Nasdaq saw an increase of 0.46%.
Shares of the medical device maker witnessed a gain of 2.11% over the previous month, beating the performance of the Medical sector with its gain of 1.82% and underperforming the S&P 500's gain of 7.62%.
The investment community will be paying close attention to the earnings performance of AngioDynamics in its upcoming release. In that report, analysts expect AngioDynamics to post earnings of -$0.08 per share. This would mark a year-over-year decline of 900%. Alongside, our most recent consensus estimate is anticipating revenue of $81.65 million, indicating a 4.43% downward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.32 per share and revenue of $328.92 million. These totals would mark changes of -433.33% and -2.9%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for AngioDynamics. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, AngioDynamics possesses 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 70, finds itself in the top 28% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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