UPDATE: Canaccord Genuity Downgrades AngioDynamics (ANGO) to Hold; Waiting For Navilyst Synergies To Kick In
Tweet
Share
E-mailGet Alerts ANGO Hot Sheet
Price: $15.82 -1.56%
Rating Summary:
8 Buy, 6 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
8 Buy, 6 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Join SI Premium – FREE
(Updated - June 25, 2012 8:22 AM EDT)
Canaccord Genuity downgraded AngioDynamics (NASDAQ: ANGO) from Buy to Hold with a price target of $14.40 (from $16.50).
Analyst, Jason R. Mills, said, "We move to the sidelines on ANGO, as we await evidence the company can deliver stated synergies from the Navilyst acquisition (recently closed) – i.e., $360M in F2013E revenue and $60M in 2013E adjusted EBITDA. We note over 60% of Navilyst’s revenue comes from fluid management, which is a new call point for ANGO (interventional cardiologists) and carries lower gross margins (low 40% range), which, coupled with the normal challenges associated with integrating a large acquisition such as this, presents near-term risk to investors as management works to realize sales and cost synergies."
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 $12.05 yesterday.
Canaccord Genuity downgraded AngioDynamics (NASDAQ: ANGO) from Buy to Hold with a price target of $14.40 (from $16.50).
Analyst, Jason R. Mills, said, "We move to the sidelines on ANGO, as we await evidence the company can deliver stated synergies from the Navilyst acquisition (recently closed) – i.e., $360M in F2013E revenue and $60M in 2013E adjusted EBITDA. We note over 60% of Navilyst’s revenue comes from fluid management, which is a new call point for ANGO (interventional cardiologists) and carries lower gross margins (low 40% range), which, coupled with the normal challenges associated with integrating a large acquisition such as this, presents near-term risk to investors as management works to realize sales and cost synergies."
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 $12.05 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Unicycive Therapeutics (UNCY) PT Raised to $15 at Benchmark Following Q2 Results
- Marti Technologies (MRT) PT Raised to $6 at Benchmark on Stronger Growth, Improved Earnings Visibility
- Nordson (NDSN) PT Raised to $370 at Oppenheimer
Create E-mail Alert Related Categories
Analyst PT Change, DowngradesRelated Entities
Canaccord GenuitySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
