Canaccord Genuity Maintains a 'Buy' on AngioDynamics (ANGO); FQ2/12 Preview: Be Patient
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Price: $15.75 -0.44%
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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Canaccord Genuity maintains a 'Buy' on AngioDynamics (NASDAQ: ANGO) price target of $18.50.
Canaccord analyst, Jason R. Mills, said, "Coming off a surprisingly strong FQ1 (Aug) – coupled with more potential catalysts in the second half of F2012 (Dec-May ’12) – we expect FQ2 (Nov) results to be in line to modestly below our expectations. That said, we think there is a pathway for ANGO to meet or exceed relatively conservative F2012 guidance if NanoKnife continues to ramp and the new CEO is effective in reinvigorating the base business trends via new products and a re-energized sales force in H2/F2012."
"For FQ2 we model revenue of $56.3M (+6% Y/Y) and EPS of $0.10...We model Oncology sales $17.8M (+12%), Access growth of +4% Y/Y and Peripheral Vascular growth of 2% Y/Y...Our F2012 revenue estimate of $219M is near the bottom of the company’s guidance range and could prove conservative, in our view, if 1) ANGO consummates an acquisition, 2) the base business re-accelerates and/or 3) NanoKnife sales OUS exceed our expectations. To wit, we think NanoKnife and/or venous ablation represent the best potential upside drivers in H2/F2012."
For an analyst ratings summary and ratings history on AngioDynamics click here. For more ratings news on AngioDynamics click here.
Shares of AngioDynamics closed at $14.51 yesterday.
Canaccord analyst, Jason R. Mills, said, "Coming off a surprisingly strong FQ1 (Aug) – coupled with more potential catalysts in the second half of F2012 (Dec-May ’12) – we expect FQ2 (Nov) results to be in line to modestly below our expectations. That said, we think there is a pathway for ANGO to meet or exceed relatively conservative F2012 guidance if NanoKnife continues to ramp and the new CEO is effective in reinvigorating the base business trends via new products and a re-energized sales force in H2/F2012."
"For FQ2 we model revenue of $56.3M (+6% Y/Y) and EPS of $0.10...We model Oncology sales $17.8M (+12%), Access growth of +4% Y/Y and Peripheral Vascular growth of 2% Y/Y...Our F2012 revenue estimate of $219M is near the bottom of the company’s guidance range and could prove conservative, in our view, if 1) ANGO consummates an acquisition, 2) the base business re-accelerates and/or 3) NanoKnife sales OUS exceed our expectations. To wit, we think NanoKnife and/or venous ablation represent the best potential upside drivers in H2/F2012."
For an analyst ratings summary and ratings history on AngioDynamics click here. For more ratings news on AngioDynamics click here.
Shares of AngioDynamics closed at $14.51 yesterday.
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