AngioDynamics Inc. (NASDAQ:ANGO) has reported that Warren Nighan Jr., the company's Senior Vice President of Quality and Regulatory, has recently purchased shares of the company's stock. According to the latest filings, the executive made two separate transactions, acquiring a total of 868 shares.
The first purchase, made on October 7, involved 768 shares at a price of $6.09 each. A subsequent acquisition on October 10 saw an additional 100 shares bought at $6.08 apiece. The combined value of these transactions amounted to over $5,285.
Following these purchases, Nighan now holds 45,877 shares of AngioDynamics. The transactions, which reflect the executive's confidence in the company, were conducted directly and are now part of his growing stake in the medical device manufacturer.
Investors often monitor insider buying as it can signal executives' positive outlook on their company's future prospects. AngioDynamics Inc., headquartered in Latham, New York, specializes in the development and marketing of medical, surgical, and diagnostic devices.
In other recent news, AngioDynamics has reported a modest 1.1% year-over-year increase in revenue for the first quarter of fiscal year 2025, totaling $67.5 million. Despite the slight miss in sales, H.C. Wainwright and Oppenheimer have maintained their positive stance on the company, reiterating a Buy and Outperform rating respectively. The MedTech segment, including Auryon and AlphaVac products, saw a nearly 9% revenue boost, despite a 4% decline in the Med Device segment. Furthermore, AngioDynamics is transitioning to outsourced manufacturing, expected to result in significant annual savings by fiscal 2027. Despite mixed performance across different segments, AngioDynamics has reaffirmed its revenue guidance for fiscal year 2025, expected to fall between $282 million and $288 million. These recent developments reflect changes in the company's operational strategy and market dynamics. AngioDynamics remains optimistic about its future growth prospects, with management indicating potential cash flow positivity by fiscal year 2026.
InvestingPro Insights
The recent insider buying by Warren Nighan Jr. at AngioDynamics Inc. (NASDAQ:ANGO) comes at a time when the company's stock appears to be in oversold territory, according to an InvestingPro Tip. This could suggest that the executive sees potential value in the shares at current levels.
Despite the company's recent challenges, including a 12.85% revenue decline in the last twelve months to $292.73 million, AngioDynamics maintains a strong balance sheet. An InvestingPro Tip highlights that the company holds more cash than debt, which could provide financial flexibility as it navigates the current market conditions.
The stock's recent performance has been lackluster, with a 17.73% decline over the past month. However, this downturn has brought AngioDynamics' market capitalization to $248.28 million, potentially presenting an opportunity for value-oriented investors who share Nighan's apparent optimism.
It's worth noting that AngioDynamics faces some headwinds, as it is not currently profitable and analysts do not anticipate profitability in the near term. The company's price-to-book ratio stands at 1.26, which may interest investors looking for companies trading close to their book value.
For those seeking a more comprehensive analysis, InvestingPro offers 7 additional tips for AngioDynamics, providing a deeper understanding of the company's financial health and market position.
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