Gabelli Downgrades AngioDynamics (ANGO) to Sell; CEO Change and Weak Q4 Results
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Price: $15.68 -0.88%
Rating Summary:
8 Buy, 6 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
8 Buy, 6 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Gabelli downgraded AngioDynamics (NASDAQ: ANGO) from Hold to Sell.
Gabelli analyst says, "There is simply too much uncertainty with the CEO transition, the impending loss of the LC bead distribution agreement (13% of sales), and potential acquisitions. Quarterly results remain erratic and the development of the IRE technology remains a multiyear project. These challenges more than offset a reasonable 6x EBITDA valuation and $5.00 per share in net cash."
For more ratings news on AngioDynamics click here and for the rating history of AngioDynamics click here.
Shares of AngioDynamics closed at $14.57 yesterday.
Gabelli analyst says, "There is simply too much uncertainty with the CEO transition, the impending loss of the LC bead distribution agreement (13% of sales), and potential acquisitions. Quarterly results remain erratic and the development of the IRE technology remains a multiyear project. These challenges more than offset a reasonable 6x EBITDA valuation and $5.00 per share in net cash."
For more ratings news on AngioDynamics click here and for the rating history of AngioDynamics click here.
Shares of AngioDynamics closed at $14.57 yesterday.
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