Canaccord Genuity Maintains a 'Buy' on AngioDynamics (ANGO); FDA's Infinite Wisdom (or Lack Thereof) Strikes Again
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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 lowered from $18.50 to $17.75.
Analyst, Jason R. Mills, said, "Maintains rating following news that ANGO is reducing its sales guidance by ~$2.5M or ~1% of total revenue based on the net effect of a NanoKnife (NK) software recall, partially offset by higher prospects for its VenaCure product. We are lowering our estimates slightly but still model acceleration in organic sales growth (ex-LC Bead sales) to 6% in F2012 and 9% in F2013. We think the stock is inexpensive (1.0x EV/C2012E sales vs. 2.0x group) and note the company generates considerable cash ($24M+ FCF in F12E). We would be buyers of ANGO here."
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 $13.59 yesterday.
Analyst, Jason R. Mills, said, "Maintains rating following news that ANGO is reducing its sales guidance by ~$2.5M or ~1% of total revenue based on the net effect of a NanoKnife (NK) software recall, partially offset by higher prospects for its VenaCure product. We are lowering our estimates slightly but still model acceleration in organic sales growth (ex-LC Bead sales) to 6% in F2012 and 9% in F2013. We think the stock is inexpensive (1.0x EV/C2012E sales vs. 2.0x group) and note the company generates considerable cash ($24M+ FCF in F12E). We would be buyers of ANGO here."
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 $13.59 yesterday.
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